Needham & Company LLC Reaffirms Buy Rating for Taboola.com (NASDAQ:TBLA)

Taboola.com (NASDAQ:TBLA)‘s stock had its “buy” rating reiterated by Needham & Company LLC in a report issued on Thursday,Benzinga reports. They presently have a $4.00 price objective on the stock. Needham & Company LLC’s price target would suggest a potential upside of 35.14% from the stock’s current price.

Several other equities analysts also recently issued reports on the company. JMP Securities cut their target price on Taboola.com from $6.00 to $5.00 and set a “market outperform” rating on the stock in a research report on Monday, January 27th. Citizens Jmp cut Taboola.com from an “outperform” rating to a “market perform” rating in a research note on Thursday, February 27th. Oppenheimer reissued a “market perform” rating on shares of Taboola.com in a research report on Wednesday, February 26th. Benchmark reaffirmed a “buy” rating and issued a $5.00 price objective on shares of Taboola.com in a report on Tuesday, February 25th. Finally, B. Riley cut shares of Taboola.com from a “buy” rating to a “neutral” rating and reduced their target price for the stock from $5.00 to $4.00 in a report on Thursday, February 27th. Three research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $4.38.

Taboola.com Stock Down 2.3 %

Shares of TBLA stock opened at $2.96 on Thursday. 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 company has a market cap of $872.21 million, a price-to-earnings ratio of -29.60 and a beta of 1.33. The stock’s fifty day moving average price is $3.39 and its 200 day moving average price is $3.48. Taboola.com has a 1-year low of $2.69 and a 1-year high of $4.60.

Taboola.com announced that its Board of Directors has authorized a stock 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 purchase up to 22.2% of its shares through open market purchases. Shares buyback programs are generally an indication that the company’s leadership believes its shares are undervalued.

Insider Transactions at Taboola.com

In related news, CEO Adam Singolda acquired 60,229 shares of the business’s stock in a transaction on Friday, February 28th. The shares were bought at an average price of $2.72 per share, with a total value of $163,822.88. Following the completion of the acquisition, the chief executive officer now owns 14,462,943 shares in the company, valued at $39,339,204.96. This trade represents a 0.42 % increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Director Zvi Limon purchased 168,506 shares of the business’s stock in a transaction that occurred on Thursday, February 27th. The shares were bought at an average price 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 ownership of the stock. The disclosure for this purchase can be found here. Corporate insiders own 22.40% of the company’s stock.

Institutional Trading of Taboola.com

Several institutional investors and hedge funds have recently bought and sold shares of the business. Wolverine Trading LLC lifted 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 worth $63,000 after acquiring an additional 8,463 shares during the period. R Squared Ltd acquired a new stake in shares of Taboola.com in the 4th quarter valued at approximately $68,000. Virtu Financial LLC acquired a new position in Taboola.com during the fourth quarter worth $81,000. Aquatic Capital Management LLC purchased a new position in Taboola.com in the fourth quarter worth $103,000. Finally, KLP Kapitalforvaltning AS acquired a new stake in Taboola.com in the fourth quarter valued at $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.