Taboola.com (NASDAQ:TBLA) Given Buy Rating at Needham & Company LLC

Taboola.com (NASDAQ:TBLA - Get Free Report)'s stock had its "buy" rating reiterated by analysts at Needham & Company LLC in a report released on Thursday,Benzinga reports. They presently have a $4.00 target price on the stock. Needham & Company LLC's price target would suggest a potential upside of 34.00% from the company's previous close.

Other equities research analysts also recently issued research reports about the stock. Citizens Jmp downgraded shares of Taboola.com from an "outperform" rating to a "market perform" rating in a research report on Thursday, February 27th. B. Riley lowered Taboola.com from a "buy" rating to a "neutral" rating and lowered their price objective for the company from $5.00 to $4.00 in a report on Thursday, February 27th. Benchmark reaffirmed a "buy" rating and set a $5.00 target price on shares of Taboola.com in a report on Tuesday, February 25th. Oppenheimer reiterated a "market perform" rating on shares of Taboola.com in a research report on Wednesday, February 26th. Finally, 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 research report on Monday, January 27th. Three equities research analysts have rated the stock with a hold rating and three have issued a buy rating to the company's stock. Based on data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and an average price target of $4.38.

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Taboola.com Stock Up 0.8 %

TBLA traded up $0.03 on Thursday, reaching $2.99. The company's stock had a trading volume of 904,382 shares, compared to its average volume of 1,141,007. Taboola.com has a 1 year low of $2.69 and a 1 year high of $4.60. The business's 50 day moving average is $3.39 and its 200 day moving average is $3.49. The company has a debt-to-equity ratio of 0.14, a current ratio of 1.31 and a quick ratio of 1.31. The stock has a market cap of $879.58 million, a price-to-earnings ratio of -29.85 and a beta of 1.33.

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

Insider Activity at Taboola.com

In other news, Director Zvi Limon acquired 168,506 shares of the business's stock in a transaction that occurred on Thursday, February 27th. The shares were purchased at an average cost of $2.93 per share, for a total transaction of $493,722.58. Following the transaction, 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 position. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CEO Adam Singolda bought 60,229 shares of Taboola.com stock in a transaction on Friday, February 28th. The shares were purchased at an average cost of $2.72 per share, with a total value of $163,822.88. Following the completion of the purchase, the chief executive officer now directly owns 14,462,943 shares in the company, valued at $39,339,204.96. This trade 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.

Institutional Trading of Taboola.com

Several large investors have recently added to or reduced their stakes in the business. Algert Global LLC grew its stake in shares of Taboola.com by 10.3% in the third quarter. Algert Global LLC now owns 327,151 shares of the company's stock worth $1,099,000 after purchasing an additional 30,597 shares in the last quarter. Quantbot Technologies LP bought a new position in Taboola.com in the 3rd quarter valued at about $116,000. Verition Fund Management LLC acquired a new position in Taboola.com during the 3rd quarter valued at about $126,000. Point72 Asset Management L.P. raised its position in shares of Taboola.com by 529.8% during the 3rd quarter. Point72 Asset Management L.P. now owns 86,600 shares of the company's stock worth $291,000 after buying an additional 72,849 shares in the last quarter. Finally, State Street Corp lifted its stake in shares of Taboola.com by 5.5% in the 3rd quarter. State Street Corp now owns 305,350 shares of the company's stock worth $1,026,000 after acquiring an additional 16,055 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.