Taboola.com (NASDAQ:TBLA) Trading 4.8% Higher - Here's What Happened

Taboola.com Ltd. (NASDAQ:TBLA - Get Free Report)'s stock price traded up 4.8% during trading on Tuesday . The stock traded as high as $3.47 and last traded at $3.47. 182,229 shares traded hands during mid-day trading, a decline of 83% from the average session volume of 1,065,479 shares. The stock had previously closed at $3.31.

Wall Street Analyst Weigh In

A number of brokerages have weighed in on TBLA. Needham & Company LLC restated a "buy" rating and issued a $5.00 price objective on shares of Taboola.com in a report on Thursday, October 10th. Benchmark reiterated a "buy" rating and issued a $5.00 price target on shares of Taboola.com in a research note on Monday, October 7th. Four research analysts have rated the stock with a buy rating, According to MarketBeat.com, the company currently has a consensus rating of "Buy" and an average price target of $5.31.

Taboola.com Stock Performance

The business has a fifty day simple moving average of $3.27 and a two-hundred day simple moving average of $3.64. The company has a market cap of $1.06 billion, a P/E ratio of -15.96 and a beta of 1.29. 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 (NASDAQ:TBLA - Get Free Report) last issued its quarterly earnings results on Wednesday, August 7th. The company reported ($0.01) earnings per share (EPS) for the quarter, topping analysts' consensus estimates of ($0.05) by $0.04. The business had revenue of $428.00 million during the quarter, compared to analyst estimates of $428.67 million. Taboola.com had a negative return on equity of 1.57% and a negative net margin of 3.07%. Taboola.com's revenue for the quarter was up 28.9% compared to the same quarter last year. During the same quarter in the prior year, the business posted ($0.05) EPS. On average, sell-side analysts anticipate that Taboola.com Ltd. will post 0.03 EPS for the current year.

Insider Buying and Selling

In other news, Director Lynda M. Clarizio sold 29,606 shares of the firm's stock in a transaction that occurred on Thursday, August 29th. The stock was sold at an average price of $3.61, for a total value of $106,877.66. Following the completion of the sale, the director now directly owns 176,158 shares of the company's stock, valued at $635,930.38. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 22.40% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Taboola.com

Large investors have recently made changes to their positions in the company. Point72 Asset Management L.P. purchased a new stake in Taboola.com in the second quarter worth $47,000. Bayesian Capital Management LP bought a new position in Taboola.com in the 1st quarter worth about $61,000. EverSource Wealth Advisors LLC purchased a new position in shares of Taboola.com during the second quarter worth approximately $69,000. Bailard Inc. bought a new stake in shares of Taboola.com during the second quarter valued at approximately $102,000. Finally, XTX Topco Ltd boosted its holdings in shares of Taboola.com by 104.3% in the second quarter. XTX Topco Ltd now owns 30,170 shares of the company's stock valued at $104,000 after purchasing an additional 15,401 shares during the period. 42.89% of the stock is owned by hedge funds and other institutional investors.

Taboola.com Company Profile

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.