Needham & Company LLC Has Lowered Expectations for Taboola.com (NASDAQ:TBLA) Stock Price

Taboola.com (NASDAQ:TBLA - Get Free Report) had its price target lowered by investment analysts at Needham & Company LLC from $5.00 to $4.00 in a report issued on Thursday,Benzinga reports. The firm currently has a "buy" rating on the stock. Needham & Company LLC's price objective indicates a potential upside of 42.35% from the stock's previous close.

Several other equities analysts have also recently issued reports on the stock. Oppenheimer reaffirmed a "market perform" rating on shares of Taboola.com in a research note on Wednesday, February 26th. JMP Securities dropped their price target on Taboola.com from $6.00 to $5.00 and set a "market outperform" rating on the stock in a report on Monday, January 27th. Citizens Jmp downgraded Taboola.com from an "outperform" rating to a "market perform" rating in a research report on Thursday. Benchmark restated a "buy" rating and issued a $5.00 target price on shares of Taboola.com in a report on Tuesday, February 25th. Finally, B. Riley downgraded Taboola.com from a "buy" rating to a "neutral" rating and reduced their target price for the company from $5.00 to $4.00 in a report on Thursday. Three analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. According to data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and a consensus price target of $4.50.

Taboola.com Price Performance

Shares of TBLA stock traded up $0.08 during mid-day trading on Thursday, hitting $2.81. 10,610,164 shares of the stock traded hands, compared to its average volume of 1,483,115. The company has a debt-to-equity ratio of 0.14, a quick ratio of 1.31 and a current ratio of 1.31. The firm has a market cap of $828.01 million, a price-to-earnings ratio of -28.10 and a beta of 1.27. The company's 50-day simple moving average is $3.70 and its 200-day simple moving average is $3.54. Taboola.com has a twelve month low of $2.69 and a twelve month high of $4.76.

Remove Ads

Taboola.com announced that its Board of Directors has initiated a stock repurchase plan on Wednesday, February 26th that permits the company to buyback $200.00 million in outstanding shares. This buyback authorization permits the company to repurchase up to 22.2% of its shares through open market purchases. Shares buyback plans are generally an indication that the company's leadership believes its shares are undervalued.

Insider Activity

In related news, CEO Adam Singolda purchased 60,229 shares of Taboola.com stock in a transaction dated Friday, February 28th. The stock was acquired at an average cost of $2.72 per share, with a total value of $163,822.88. Following the completion of the transaction, the chief executive officer now directly owns 14,462,943 shares of the company's stock, valued at $39,339,204.96. This trade represents a 0.42 % increase in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Zvi Limon acquired 168,506 shares of the stock in a transaction that occurred on Thursday, February 27th. The shares were bought at an average cost of $2.93 per share, for a total transaction of $493,722.58. Following the completion of the transaction, the director now directly owns 2,987,383 shares of the company's stock, valued at $8,753,032.19. This represents a 5.98 % increase in their position. The disclosure for this purchase can be found here. Corporate insiders own 22.40% of the company's stock.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently bought and sold shares of the company. JPMorgan Chase & Co. lifted its holdings in shares of Taboola.com by 54.7% during the 3rd quarter. JPMorgan Chase & Co. now owns 727,181 shares of the company's stock valued at $2,443,000 after buying an additional 257,009 shares during the last quarter. Empowered Funds LLC lifted its stake in Taboola.com by 410.5% in the fourth quarter. Empowered Funds LLC now owns 512,422 shares of the company's stock valued at $1,870,000 after acquiring an additional 412,042 shares during the last quarter. Yelin Lapidot Holdings Management Ltd. acquired a new stake in Taboola.com in the fourth quarter valued at approximately $1,724,000. Harbor Capital Advisors Inc. grew its position in Taboola.com by 22.6% in the fourth quarter. Harbor Capital Advisors Inc. now owns 33,051 shares of the company's stock worth $121,000 after acquiring an additional 6,094 shares in the last quarter. Finally, Barclays PLC increased its stake in shares of Taboola.com by 1,218.5% during the 3rd quarter. Barclays PLC now owns 36,431 shares of the company's stock worth $122,000 after purchasing an additional 33,668 shares during the last quarter. Hedge funds and other institutional investors own 42.89% of the company's stock.

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.