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

Taboola.com Ltd. (NASDAQ:TBLA) has received an average recommendation of “Moderate Buy” from the six ratings firms that are covering the stock, Marketbeat.com reports. Three research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. The average 1-year price target among brokerages that have updated their coverage on the stock in the last year is $4.50.

Several analysts recently weighed in on TBLA shares. Needham & Company LLC dropped their price target on Taboola.com from $5.00 to $4.00 and set a “buy” rating for the company in a report on Thursday, February 27th. Benchmark reissued a “buy” rating and issued a $5.00 target price on shares of Taboola.com in a research report on Tuesday, February 25th. Oppenheimer reaffirmed a “market perform” rating on shares of Taboola.com in a research report on Wednesday, February 26th. Citizens Jmp cut shares of Taboola.com from an “outperform” rating to a “market perform” rating in a research note on Thursday, February 27th. Finally, B. Riley lowered shares of Taboola.com from a “buy” rating to a “neutral” rating and decreased their target price for the stock from $5.00 to $4.00 in a research report on Thursday, February 27th.

Taboola.com Stock Down 2.0 %

Taboola.com stock opened at $2.92 on Monday. Taboola.com has a twelve month low of $2.69 and a twelve month high of $4.60. The stock has a market cap of $860.42 million, a P/E ratio of -29.20 and a beta of 1.33. The company’s 50-day moving average price is $3.45 and its two-hundred day moving average price is $3.50. 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 declared that its board has approved a share buyback plan on Wednesday, February 26th that authorizes the company to repurchase $200.00 million in shares. This repurchase authorization authorizes 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 leadership believes its shares are undervalued.

Insider Activity at Taboola.com

In other news, CEO Adam Singolda bought 60,229 shares of the company’s stock in a transaction dated Friday, February 28th. The stock was bought at an average cost of $2.72 per share, for a total transaction of $163,822.88. Following the transaction, the chief executive officer now owns 14,462,943 shares of the company’s stock, valued at $39,339,204.96. This represents a 0.42 % increase in their ownership of the stock. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Zvi Limon purchased 168,506 shares of the business’s stock in a transaction dated Thursday, February 27th. The shares were purchased at an average cost of $2.93 per share, with a total value of $493,722.58. Following 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 disclosure for this purchase can be found here. 22.40% of the stock is owned by insiders.

Hedge Funds Weigh In On Taboola.com

Hedge funds and other institutional investors have recently modified their holdings of the business. Wellington Management Group LLP lifted its position in shares of Taboola.com by 6.1% during the 4th quarter. Wellington Management Group LLP now owns 19,205,915 shares of the company’s stock worth $70,102,000 after buying an additional 1,109,602 shares during the last quarter. Phoenix Financial Ltd. lifted its holdings in shares of Taboola.com by 1.4% in the fourth quarter. Phoenix Financial Ltd. now owns 7,397,680 shares of the company’s stock worth $27,002,000 after acquiring an additional 98,800 shares during the last quarter. Millennium Management LLC boosted its stake in shares of Taboola.com by 42.9% in the 4th quarter. Millennium Management LLC now owns 2,217,442 shares of the company’s stock valued at $8,094,000 after purchasing an additional 665,944 shares in the last quarter. Renaissance Technologies LLC grew its holdings in shares of Taboola.com by 40.2% during the 4th quarter. Renaissance Technologies LLC now owns 1,546,300 shares of the company’s stock valued at $5,644,000 after purchasing an additional 443,700 shares during the last quarter. Finally, Connor Clark & Lunn Investment Management Ltd. increased its position in Taboola.com by 4.5% during the 4th quarter. Connor Clark & Lunn Investment Management Ltd. now owns 1,480,668 shares of the company’s stock worth $5,404,000 after purchasing an additional 63,324 shares in the last quarter. 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.