Taboola.com Ltd. (NASDAQ:TBLA - Get Free Report) reached a new 52-week low on Friday after Needham & Company LLC lowered their price target on the stock from $5.00 to $4.00. Needham & Company LLC currently has a buy rating on the stock. Taboola.com traded as low as $2.82 and last traded at $2.82, with a volume of 5026079 shares trading hands. The stock had previously closed at $3.09.
Several other brokerages also recently issued reports on TBLA. B. Riley downgraded shares of Taboola.com from a "buy" rating to a "neutral" rating and cut their price target for the company from $5.00 to $4.00 in a report on Thursday. Benchmark reissued a "buy" rating and issued a $5.00 target price on shares of Taboola.com in a report on Tuesday, February 25th. Citizens Jmp cut Taboola.com from an "outperform" rating to a "market perform" rating in a report on Thursday. JMP Securities reduced their price objective on Taboola.com from $6.00 to $5.00 and set a "market outperform" rating on the stock in a research note on Monday, January 27th. Finally, Oppenheimer restated a "market perform" rating on shares of Taboola.com in a report on Wednesday, February 26th. Three equities research analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. According to data from MarketBeat, Taboola.com presently has a consensus rating of "Moderate Buy" and a consensus target price of $4.50.
Read Our Latest Research Report on TBLA
Insider Activity at Taboola.com
In other news, CEO Adam Singolda purchased 60,229 shares of the firm's stock in a transaction that occurred on Friday, February 28th. The shares were acquired at an average price of $2.72 per share, for a total transaction of $163,822.88. Following the completion of the acquisition, the chief executive officer now directly owns 14,462,943 shares in the company, valued at approximately $39,339,204.96. The trade was a 0.42 % increase in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Zvi Limon acquired 168,506 shares of the stock in a transaction that occurred on Thursday, February 27th. The stock was purchased at an average price of $2.93 per share, with a total value of $493,722.58. Following the completion of the transaction, the director now owns 2,987,383 shares of the company's stock, valued at approximately $8,753,032.19. This trade represents a 5.98 % increase in their ownership of the stock. The disclosure for this purchase can be found here. 22.40% of the stock is currently owned by company insiders.
Hedge Funds Weigh In On Taboola.com
A number of hedge funds and other institutional investors have recently bought and sold shares of TBLA. Wolverine Trading LLC raised its stake in Taboola.com by 98.4% during 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 during the period. Aigen Investment Management LP bought a new position in Taboola.com during the 3rd quarter worth about $63,000. R Squared Ltd acquired a new stake in shares of Taboola.com in the 4th quarter valued at about $68,000. Virtu Financial LLC bought a new stake in shares of Taboola.com in the fourth quarter valued at about $81,000. Finally, Aquatic Capital Management LLC acquired a new position in shares of Taboola.com during the fourth quarter worth about $103,000. 42.89% of the stock is owned by institutional investors.
Taboola.com Stock Up 2.0 %
The firm has a 50-day moving average price of $3.70 and a two-hundred day moving average price of $3.54. The company has a market capitalization of $820.64 million, a price-to-earnings ratio of -28.25 and a beta of 1.27. The company has a debt-to-equity ratio of 0.14, a current ratio of 1.31 and a quick ratio of 1.31.
Taboola.com declared that its Board of Directors has authorized a stock repurchase program on Wednesday, February 26th that allows the company to buyback $200.00 million in shares. This buyback authorization allows the company to purchase up to 22.2% of its shares through open market purchases. Shares buyback programs are often a sign that the company's leadership believes its shares are undervalued.
About Taboola.com
(
Get Free Report)
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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