Taboola.com (NASDAQ:TBLA) Price Target Cut to $4.00 by Analysts at Needham & Company LLC

Taboola.com (NASDAQ:TBLA) had its price target reduced by Needham & Company LLC from $5.00 to $4.00 in a research note published on Thursday,Benzinga reports. Needham & Company LLC currently has a buy rating on the stock.

Other equities analysts have also issued reports about the stock. Citizens Jmp lowered shares of Taboola.com from an “outperform” rating to a “market perform” rating in a report on Thursday. Oppenheimer restated a “market perform” rating on shares of Taboola.com in a research note on Wednesday. JMP Securities lowered their target price on shares of 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. B. Riley downgraded 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. Finally, Benchmark restated a “buy” rating and issued a $5.00 target price on shares of Taboola.com in a research note on Tuesday. Three research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $4.80.

Taboola.com Stock Performance

Shares of TBLA stock opened at $2.82 on Thursday. The firm has a market cap of $823.43 million, a price-to-earnings ratio of -28.20 and a beta of 1.27. The company’s 50 day moving average is $3.72 and its 200 day moving average is $3.54. 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 has a 52-week low of $2.82 and a 52-week high of $4.96.

Taboola.com announced that its board has approved a stock 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 stock through open market purchases. Stock buyback programs are typically a sign that the company’s management believes its stock is undervalued.

Institutional Investors Weigh In On Taboola.com

Several institutional investors and hedge funds have recently made changes to their positions in the stock. Harbor Capital Advisors Inc. lifted its stake 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 worth $121,000 after buying an additional 6,094 shares during the period. Meitav Investment House Ltd. lifted its stake in shares of Taboola.com by 9.4% during the fourth quarter. Meitav Investment House Ltd. now owns 75,500 shares of the company’s stock worth $279,000 after buying an additional 6,500 shares during the period. Tidal Investments LLC lifted its stake in shares of Taboola.com by 4.6% during the third quarter. Tidal Investments LLC now owns 183,856 shares of the company’s stock worth $618,000 after buying an additional 8,127 shares during the period. Wolverine Trading LLC lifted its stake in shares of 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 during the period. Finally, Intellectus Partners LLC lifted its stake in shares of Taboola.com by 4.5% during the third quarter. Intellectus Partners LLC now owns 367,668 shares of the company’s stock worth $1,235,000 after buying an additional 16,000 shares during the period. 42.89% of the stock is currently owned by institutional investors and hedge funds.

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.