Taboola.com's (TBLA) "Buy" Rating Reaffirmed at Needham & Company LLC

Needham & Company LLC reaffirmed their buy rating on shares of Taboola.com (NASDAQ:TBLA - Free Report) in a research note published on Wednesday morning, Benzinga reports. Needham & Company LLC currently has a $5.00 price objective on the stock.

Separately, Benchmark reissued a "buy" rating and issued a $5.00 price objective on shares of Taboola.com in a research report on Monday, October 7th. Four investment analysts have rated the stock with a buy rating, According to data from MarketBeat.com, the company currently has a consensus rating of "Buy" and an average price target of $5.31.

Taboola.com Stock Performance

TBLA stock remained flat at $3.63 on Wednesday. The company had a trading volume of 613,766 shares, compared to its average volume of 1,073,578. The firm's 50-day moving average price is $3.29 and its two-hundred day moving average price is $3.63. The company has a market capitalization of $1.06 billion, a P/E ratio of -15.78 and a beta of 1.29. The company has a current ratio of 1.31, a quick ratio of 1.31 and a debt-to-equity ratio of 0.14. Taboola.com has a 12-month low of $2.87 and a 12-month high of $5.00.

Taboola.com (NASDAQ:TBLA - Get Free Report) last issued its quarterly earnings data on Wednesday, August 7th. The company reported ($0.01) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.05) by $0.04. The business had revenue of $428.00 million for the quarter, compared to the consensus estimate of $428.67 million. Taboola.com had a negative return on equity of 1.57% and a negative net margin of 3.07%. The business's revenue was up 28.9% on a year-over-year basis. During the same period in the prior year, the business earned ($0.05) earnings per share. On average, sell-side analysts predict that Taboola.com will post 0.03 earnings per share for the current year.

Insider Activity

In related news, Director Lynda M. Clarizio sold 29,606 shares of the firm's stock in a transaction that occurred on Thursday, August 29th. The shares were sold at an average price of $3.61, for a total value of $106,877.66. Following the sale, the director now directly owns 176,158 shares of the company's stock, valued at approximately $635,930.38. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Corporate insiders own 22.40% of the company's stock.

Institutional Inflows and Outflows

Several large investors have recently made changes to their positions in TBLA. nVerses Capital LLC grew its position in Taboola.com by 74.5% during the third quarter. nVerses Capital LLC now owns 9,600 shares of the company's stock valued at $32,000 after acquiring an additional 4,100 shares during the period. Bayesian Capital Management LP acquired a new position in Taboola.com during the first quarter valued at approximately $61,000. Point72 Asset Management L.P. purchased a new stake in Taboola.com during the second quarter worth approximately $47,000. EverSource Wealth Advisors LLC acquired a new stake in shares of Taboola.com in the second quarter worth $69,000. Finally, Bailard Inc. purchased a new position in shares of Taboola.com in the 2nd quarter valued at $102,000. 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.