Taboola.com’s (TBLA) Buy Rating Reiterated at Needham & Company LLC

Needham & Company LLC reaffirmed their buy rating on shares of Taboola.com (NASDAQ:TBLA) in a research note released on Thursday,Benzinga reports. Needham & Company LLC currently has a $4.00 price objective on the stock.

A number of other equities research analysts also recently weighed in on the stock. Citizens Jmp downgraded shares of Taboola.com from an “outperform” rating to a “market perform” rating in a research note on Thursday, February 27th. B. Riley downgraded shares of Taboola.com from a “buy” rating to a “neutral” rating and lowered their price target for the stock from $5.00 to $4.00 in a report on Thursday, February 27th. JMP Securities cut their price objective on Taboola.com from $6.00 to $5.00 and set a “market outperform” rating on the stock in a report on Monday, January 27th. Benchmark restated a “buy” rating and set a $5.00 price objective on shares of Taboola.com in a research report on Tuesday, February 25th. Finally, Oppenheimer reissued a “market perform” rating on shares of Taboola.com in a research note on Wednesday, February 26th. Three analysts have rated the stock with a hold rating and three have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, Taboola.com has an average rating of “Moderate Buy” and an average price target of $4.38.

Taboola.com Stock Down 2.3 %

NASDAQ TBLA opened at $2.96 on Thursday. The business has a fifty day moving average price of $3.39 and a two-hundred day moving average price of $3.49. The stock has a market capitalization of $872.21 million, a PE ratio of -29.60 and a beta of 1.33. Taboola.com has a fifty-two week low of $2.69 and a fifty-two week high of $4.60. The company has a debt-to-equity ratio of 0.14, a current ratio of 1.31 and a quick ratio of 1.31.

Taboola.com declared that its board has approved a share buyback program on Wednesday, February 26th that authorizes the company to repurchase $200.00 million in outstanding shares. This repurchase authorization authorizes the company to purchase up to 22.2% of its shares through open market purchases. Shares repurchase programs are typically an indication that the company’s board of directors believes its shares are undervalued.

Insider Activity at Taboola.com

In other Taboola.com news, Director Zvi Limon bought 168,506 shares of the stock in a transaction on Thursday, February 27th. The stock was acquired at an average cost of $2.93 per share, for a total transaction of $493,722.58. Following the completion of the acquisition, the director now owns 2,987,383 shares in the company, valued at $8,753,032.19. This trade represents a 5.98 % increase in their position. The acquisition was disclosed in a document filed with the SEC, which is available at this link. Also, CEO Adam Singolda purchased 60,229 shares of the business’s stock in a transaction on Friday, February 28th. The shares were acquired at an average price of $2.72 per share, for a total transaction of $163,822.88. Following the completion of the acquisition, the chief executive officer now directly owns 14,462,943 shares in the company, valued at approximately $39,339,204.96. This represents a 0.42 % increase in their position. The disclosure for this purchase can be found here. 22.40% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Taboola.com

Institutional investors have recently made changes to their positions in the stock. Wolverine Trading LLC grew its stake in shares of Taboola.com by 98.4% in the 4th quarter. Wolverine Trading LLC now owns 17,063 shares of the company’s stock valued at $63,000 after buying an additional 8,463 shares during the period. R Squared Ltd bought a new position in Taboola.com in the fourth quarter worth approximately $68,000. Virtu Financial LLC acquired a new stake in Taboola.com in the fourth quarter valued at approximately $81,000. Aquatic Capital Management LLC bought a new stake in shares of Taboola.com during the fourth quarter valued at approximately $103,000. Finally, KLP Kapitalforvaltning AS acquired a new position in shares of Taboola.com during the fourth quarter worth approximately $109,000. Institutional investors and hedge funds own 42.89% of the company’s stock.

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.