Taboola.com’s (TBLA) Buy Rating Reaffirmed at Benchmark

Benchmark reiterated their buy rating on shares of Taboola.com (NASDAQ:TBLA) in a report published on Thursday,Benzinga reports. The brokerage currently has a $4.50 price target on the stock.

Several other research analysts also recently commented on TBLA. B. Riley downgraded shares of Taboola.com from a “buy” rating to a “neutral” rating and reduced their price target for the stock from $5.00 to $4.00 in a research note on Thursday, February 27th. JMP Securities decreased their price target on Taboola.com from $6.00 to $5.00 and set a “market outperform” rating for the company in a research note on Monday, January 27th. Citizens Jmp lowered Taboola.com from an “outperform” rating to a “market perform” rating in a report on Thursday, February 27th. Needham & Company LLC reissued a “buy” rating and set a $4.00 target price on shares of Taboola.com in a report on Thursday. Finally, Oppenheimer reaffirmed a “market perform” rating on shares of Taboola.com in a research report on Wednesday, February 26th. Three research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $4.38.

Taboola.com Stock Performance

NASDAQ:TBLA opened at $3.03 on Thursday. The company has a debt-to-equity ratio of 0.14, a quick ratio of 1.31 and a current ratio of 1.31. Taboola.com has a fifty-two week low of $2.69 and a fifty-two week high of $4.60. The firm has a market capitalization of $892.83 million, a PE ratio of -30.30 and a beta of 1.33. The stock’s fifty day moving average is $3.41 and its 200 day moving average is $3.49.

Taboola.com declared that its Board of Directors has initiated a share repurchase program on Wednesday, February 26th that allows the company to buyback $200.00 million in outstanding shares. This buyback authorization allows the company to reacquire up to 22.2% of its stock through open market purchases. Stock buyback programs are typically a sign that the company’s management believes its stock is undervalued.

Insider Buying and Selling at Taboola.com

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

Institutional Investors Weigh In On Taboola.com

A number of large investors have recently modified their holdings of TBLA. Wolverine Trading LLC lifted its position in Taboola.com by 98.4% during the fourth quarter. Wolverine Trading LLC now owns 17,063 shares of the company’s stock worth $63,000 after buying an additional 8,463 shares in the last quarter. R Squared Ltd purchased a new stake in shares of Taboola.com in the fourth quarter valued at about $68,000. Virtu Financial LLC purchased a new position in Taboola.com during the fourth quarter worth about $81,000. Aquatic Capital Management LLC acquired a new position in Taboola.com in the 4th quarter valued at about $103,000. Finally, KLP Kapitalforvaltning AS purchased a new stake in shares of Taboola.com in the 4th quarter valued at approximately $109,000. Hedge funds and other institutional investors own 42.89% of the company’s stock.

About Taboola.com

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.