Taboola.com (NASDAQ:TBLA) Shares Gap Up – Here’s What Happened

Taboola.com Ltd. (NASDAQ:TBLA) shares gapped up before the market opened on Thursday . The stock had previously closed at $3.30, but opened at $3.50. Taboola.com shares last traded at $3.59, with a volume of 245,680 shares trading hands.

Wall Street Analysts Forecast Growth

A number of analysts have recently issued reports on the stock. Benchmark reissued a “buy” rating and set a $5.00 target price on shares of Taboola.com in a research note on Monday, October 7th. Needham & Company LLC reissued a “buy” rating and set a $5.00 target price on shares of Taboola.com in a research note on Friday, November 8th. Four investment analysts have rated the stock with a buy rating, Based on data from MarketBeat, the stock has a consensus rating of “Buy” and an average target price of $5.31.

Taboola.com Trading Down 2.2 %

The stock’s 50 day moving average is $3.36 and its two-hundred day moving average is $3.49. The company has a market capitalization of $1.03 billion, a PE ratio of -35.30 and a beta of 1.28. The company has a quick ratio of 1.31, a current ratio of 1.31 and a debt-to-equity ratio of 0.14.

Taboola.com (NASDAQ:TBLA) last released its quarterly earnings data on Thursday, November 7th. The company reported ($0.02) earnings per share for the quarter, missing analysts’ consensus estimates of $0.02 by ($0.04). Taboola.com had a negative return on equity of 1.68% and a negative net margin of 1.96%. The business had revenue of $433.10 million during the quarter, compared to analysts’ expectations of $429.43 million. During the same period last year, the company earned ($0.02) earnings per share.

Insider Buying and Selling

In other Taboola.com news, Director Richard T. Scanlon sold 250,000 shares of the business’s stock in a transaction dated Tuesday, November 19th. The shares were sold at an average price of $3.16, for a total value of $790,000.00. Following the completion of the transaction, the director now directly owns 70,642 shares in the company, valued at approximately $223,228.72. The trade was a 77.97 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, Director Lynda M. Clarizio sold 29,606 shares of the business’s stock in a transaction dated Thursday, August 29th. The stock was sold at an average price of $3.61, for a total transaction of $106,877.66. Following the completion of the transaction, the director now owns 176,158 shares of the company’s stock, valued at $635,930.38. This represents a 14.39 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 22.40% of the stock is owned by insiders.

Hedge Funds Weigh In On Taboola.com

Large investors have recently added to or reduced their stakes in the company. nVerses Capital LLC increased its holdings in shares of Taboola.com by 74.5% during the third quarter. nVerses Capital LLC now owns 9,600 shares of the company’s stock valued at $32,000 after acquiring an additional 4,100 shares in the last quarter. Bayesian Capital Management LP acquired a new position in shares of Taboola.com during the first quarter valued at about $61,000. Point72 Asset Management L.P. acquired a new position in shares of Taboola.com during the second quarter valued at about $47,000. Aigen Investment Management LP acquired a new position in shares of Taboola.com during the third quarter valued at about $63,000. Finally, EverSource Wealth Advisors LLC acquired a new position in shares of Taboola.com during the second quarter valued at about $69,000. 42.89% of the stock is currently 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.