Taboola.com (NASDAQ:TBLA) Downgraded by Citizens Jmp to “Market Perform”

Citizens Jmp downgraded shares of Taboola.com (NASDAQ:TBLA) from an outperform rating to a market perform rating in a report released on Thursday, MarketBeat.com reports.

A number of other research analysts also recently weighed in on TBLA. Benchmark reaffirmed a “buy” rating and set a $5.00 price target on shares of Taboola.com in a research note on Tuesday. Oppenheimer reaffirmed a “market perform” rating on shares of Taboola.com in a research note on Wednesday. B. Riley downgraded Taboola.com from a “buy” rating to a “neutral” rating and dropped their price target for the stock from $5.00 to $4.00 in a research note on Thursday. JMP Securities dropped their price target on Taboola.com from $6.00 to $5.00 and set a “market outperform” rating on the stock in a research note on Monday, January 27th. Finally, Needham & Company LLC reaffirmed a “buy” rating and set a $5.00 price target on shares of Taboola.com in a research note on Friday, January 17th. Three equities research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $4.80.

Taboola.com Stock Down 8.7 %

Shares of NASDAQ:TBLA opened at $2.82 on Thursday. The company has a market capitalization of $823.43 million, a price-to-earnings ratio of -28.20 and a beta of 1.27. The company has a debt-to-equity ratio of 0.14, a current ratio of 1.31 and a quick ratio of 1.31. The business’s 50-day moving average is $3.72 and its 200-day moving average is $3.54. Taboola.com has a 1 year low of $2.82 and a 1 year high of $4.96.

Taboola.com announced that its Board of Directors has approved a share repurchase program on Wednesday, February 26th that authorizes the company to buyback $200.00 million in shares. This buyback authorization authorizes the company to purchase up to 22.2% of its shares through open market purchases. Shares buyback programs are often a sign that the company’s board believes its stock is undervalued.

Institutional Trading of Taboola.com

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Wellington Management Group LLP increased its holdings in Taboola.com by 6.1% during the 4th quarter. Wellington Management Group LLP now owns 19,205,915 shares of the company’s stock worth $70,102,000 after purchasing an additional 1,109,602 shares in the last quarter. Phoenix Financial Ltd. increased its holdings in Taboola.com by 1.4% during the 4th quarter. Phoenix Financial Ltd. now owns 7,397,680 shares of the company’s stock worth $27,002,000 after purchasing an additional 98,800 shares in the last quarter. Millennium Management LLC grew its holdings in shares of Taboola.com by 42.9% in the fourth quarter. Millennium Management LLC now owns 2,217,442 shares of the company’s stock valued at $8,094,000 after acquiring an additional 665,944 shares in the last quarter. Renaissance Technologies LLC grew its holdings in shares of Taboola.com by 40.2% in the fourth quarter. Renaissance Technologies LLC now owns 1,546,300 shares of the company’s stock valued at $5,644,000 after acquiring an additional 443,700 shares in the last quarter. Finally, Connor Clark & Lunn Investment Management Ltd. grew its holdings in shares of Taboola.com by 4.5% in the fourth quarter. Connor Clark & Lunn Investment Management Ltd. now owns 1,480,668 shares of the company’s stock valued at $5,404,000 after acquiring an additional 63,324 shares in the last quarter. 42.89% of the stock is owned by institutional investors.

Taboola.com Company Profile

Taboola.com Ltd., together with its subsidiaries, operates an artificial intelligence-based algorithmic engine platform in Israel, the United States, the United Kingdom, Germany, and internationally. It offers Taboola, a platform that partners with websites, devices, and mobile apps to recommend editorial content and advertisements on the open web to users.