Taboola.com (NASDAQ:TBLA - Get Free Report) was downgraded by Citizens Jmp from an "outperform" rating to a "market perform" rating in a research report issued to clients and investors on Thursday, Marketbeat Ratings reports.
A number of other research firms also recently commented on TBLA. B. Riley downgraded Taboola.com from a "buy" rating to a "neutral" rating and dropped their price objective for the stock from $5.00 to $4.00 in a research note on Thursday. Needham & Company LLC reiterated a "buy" rating and issued a $5.00 price target on shares of Taboola.com in a research report on Friday, January 17th. Benchmark restated a "buy" rating and set a $5.00 price objective on shares of Taboola.com in a research report on Tuesday, February 25th. Oppenheimer reiterated a "market perform" rating on shares of Taboola.com in a report on Wednesday, February 26th. Finally, JMP Securities reduced 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 report on Monday, January 27th. Three equities research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company's stock. Based on data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and an average price target of $4.50.
Check Out Our Latest Research Report on TBLA
Taboola.com Price Performance
NASDAQ:TBLA traded up $0.08 during midday trading on Thursday, hitting $2.81. 10,540,173 shares of the stock were exchanged, compared to its average volume of 1,483,115. The company has a market capitalization of $828.01 million, a price-to-earnings ratio of -28.10 and a beta of 1.27. 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 one year low of $2.69 and a one year high of $4.76. The business has a 50-day moving average price of $3.70 and a two-hundred day moving average price of $3.54.
Taboola.com announced that its board has initiated a stock buyback program on Wednesday, February 26th that authorizes the company to buyback $200.00 million in outstanding shares. This buyback authorization authorizes the company to buy up to 22.2% of its stock through open market purchases. Stock buyback programs are often an indication that the company's management believes its shares are undervalued.
Insider Buying and Selling at Taboola.com
In other news, Director Zvi Limon bought 168,506 shares of the business's stock in a transaction on Thursday, February 27th. The shares were bought at an average cost of $2.93 per share, with a total value of $493,722.58. Following the purchase, the director now directly owns 2,987,383 shares in the company, valued at $8,753,032.19. This trade represents a 5.98 % increase in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, CEO Adam Singolda bought 60,229 shares of Taboola.com stock in a transaction dated Friday, February 28th. The stock was acquired at an average price of $2.72 per share, with a total value of $163,822.88. Following the acquisition, the chief executive officer now directly owns 14,462,943 shares of the company's stock, valued at approximately $39,339,204.96. This represents a 0.42 % increase in their ownership of the stock. The disclosure for this purchase can be found here. Insiders own 22.40% of the company's stock.
Hedge Funds Weigh In On Taboola.com
Institutional investors and hedge funds have recently bought and sold shares of the business. Aigen Investment Management LP purchased a new stake in shares of Taboola.com in the third quarter worth approximately $63,000. Wolverine Trading LLC lifted its position in Taboola.com by 98.4% in the 4th quarter. Wolverine Trading LLC now owns 17,063 shares of the company's stock worth $63,000 after buying an additional 8,463 shares in the last quarter. R Squared Ltd acquired a new stake in shares of Taboola.com during the 4th quarter valued at $68,000. Virtu Financial LLC purchased a new position in shares of Taboola.com during the 4th quarter valued at $81,000. Finally, Aquatic Capital Management LLC acquired a new position in shares of Taboola.com in the fourth quarter worth $103,000. Hedge funds and other institutional investors own 42.89% of the company's stock.
Taboola.com Company Profile
(
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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.
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