Oppenheimer Reiterates “Market Perform” Rating for Taboola.com (NASDAQ:TBLA)

Oppenheimer reiterated their market perform rating on shares of Taboola.com (NASDAQ:TBLA) in a research note issued to investors on Wednesday, Marketbeat.com reports.

Several other brokerages have also recently commented on TBLA. JMP Securities reduced their price target on Taboola.com from $6.00 to $5.00 and set a “market outperform” rating for the company in a research report on Monday, January 27th. Benchmark reissued a “buy” rating and issued a $5.00 target price on shares of Taboola.com in a research note on Tuesday. Finally, Needham & Company LLC reaffirmed a “buy” rating and set a $5.00 price target on shares of Taboola.com in a research report on Friday, January 17th. One equities research analyst has rated the stock with a hold rating and four have assigned a buy rating to the company. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $5.25.

Taboola.com Trading Down 16.5 %

Shares of NASDAQ:TBLA opened at $3.09 on Wednesday. The company’s 50-day moving average price is $3.74 and its two-hundred day moving average price is $3.55. Taboola.com has a one year low of $2.87 and a one year high of $4.96. 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 stock has a market capitalization of $902.27 million, a PE ratio of -30.90 and a beta of 1.27.

Taboola.com declared that its board has approved a share buyback program on Wednesday, February 26th that authorizes the company to buyback $200.00 million in shares. This buyback authorization authorizes the company to purchase up to 22.2% of its shares through open market purchases. Shares buyback programs are usually an indication that the company’s board of directors believes its stock is undervalued.

Hedge Funds Weigh In On Taboola.com

Several large investors have recently modified their holdings of TBLA. Wellington Management Group LLP grew its stake in Taboola.com by 6.1% in the 4th quarter. Wellington Management Group LLP now owns 19,205,915 shares of the company’s stock valued at $70,102,000 after buying an additional 1,109,602 shares during the last quarter. Phoenix Financial Ltd. boosted its holdings in shares of Taboola.com by 1.4% during 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 period. Millennium Management LLC grew its position in shares of Taboola.com by 42.9% in the fourth 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 during the last quarter. Renaissance Technologies LLC increased its stake in shares of Taboola.com by 40.2% during the fourth quarter. Renaissance Technologies LLC now owns 1,546,300 shares of the company’s stock worth $5,644,000 after purchasing an additional 443,700 shares during the period. Finally, Connor Clark & Lunn Investment Management Ltd. lifted its holdings 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 during the last quarter. 42.89% of the stock is owned by institutional investors.

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.