Taboola.com Ltd. (NASDAQ:TBLA) Receives Consensus Recommendation of “Moderate Buy” from Analysts

Shares of Taboola.com Ltd. (NASDAQ:TBLA) have earned a consensus rating of “Moderate Buy” from the six research firms that are covering the firm, MarketBeat reports. Three research analysts have rated the stock with a hold recommendation and three have assigned a buy recommendation to the company. The average 12 month price objective among brokers that have updated their coverage on the stock in the last year is $4.38.

A number of brokerages have recently weighed in on TBLA. JMP Securities cut their target price on shares of 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. Oppenheimer reiterated a “market perform” rating on shares of Taboola.com in a report on Wednesday, February 26th. Benchmark restated a “buy” rating and set a $4.50 price target on shares of Taboola.com in a research note on Thursday. Citizens Jmp lowered Taboola.com from an “outperform” rating to a “market perform” rating in a research note on Thursday, February 27th. Finally, B. Riley cut shares of Taboola.com from a “buy” rating to a “neutral” rating and lowered their target price for the company from $5.00 to $4.00 in a research note on Thursday, February 27th.

Insider Transactions at Taboola.com

In other news, CEO Adam Singolda purchased 60,229 shares of the stock in a transaction that occurred on Friday, February 28th. The stock was purchased 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 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 transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, Director Zvi Limon bought 168,506 shares of the stock in a transaction on Thursday, February 27th. The stock was purchased at an average price of $2.93 per share, with a total value of $493,722.58. Following the completion of the acquisition, the director now directly owns 2,987,383 shares in the company, valued at approximately $8,753,032.19. This trade represents a 5.98 % increase in their position. The disclosure for this purchase can be found here. Company insiders own 22.40% of the company’s stock.

Hedge Funds Weigh In On Taboola.com

Several institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Harbor Capital Advisors Inc. lifted its position in shares of Taboola.com by 22.6% during the fourth quarter. Harbor Capital Advisors Inc. now owns 33,051 shares of the company’s stock valued at $121,000 after buying an additional 6,094 shares during the last quarter. Meitav Investment House Ltd. lifted its position in Taboola.com by 9.4% during the fourth quarter. Meitav Investment House Ltd. now owns 75,500 shares of the company’s stock valued at $279,000 after acquiring an additional 6,500 shares during the last quarter. Tidal Investments LLC boosted its stake in Taboola.com by 4.6% in the third quarter. Tidal Investments LLC now owns 183,856 shares of the company’s stock valued at $618,000 after acquiring an additional 8,127 shares in the last quarter. Wolverine Trading LLC grew its holdings in Taboola.com by 98.4% in the fourth quarter. Wolverine Trading LLC now owns 17,063 shares of the company’s stock worth $63,000 after purchasing an additional 8,463 shares during the last quarter. Finally, State Street Corp increased its position in shares of Taboola.com by 5.5% during the third quarter. State Street Corp now owns 305,350 shares of the company’s stock worth $1,026,000 after purchasing an additional 16,055 shares in the last quarter. Hedge funds and other institutional investors own 42.89% of the company’s stock.

Taboola.com Stock Down 2.3 %

Shares of NASDAQ TBLA opened at $2.96 on Monday. 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 company has a quick ratio of 1.31, a current ratio of 1.31 and a debt-to-equity ratio of 0.14. The firm’s fifty day moving average is $3.39 and its 200 day moving average is $3.48. Taboola.com has a 52 week low of $2.69 and a 52 week high of $4.60.

Taboola.com announced that its Board of Directors has authorized a stock buyback plan on Wednesday, February 26th that permits the company to repurchase $200.00 million in outstanding shares. This repurchase authorization permits the company to buy up to 22.2% of its shares through open market purchases. Shares repurchase plans are typically an indication that the company’s management believes its stock is undervalued.

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.