Taboola.com (NASDAQ:TBLA) Sees Unusually-High Trading Volume

Taboola.com Ltd. (NASDAQ:TBLA) saw unusually-strong trading volume on Tuesday . Approximately 3,871,525 shares traded hands during trading, an increase of 229% from the previous session’s volume of 1,177,351 shares.The stock last traded at $3.71 and had previously closed at $3.29.

Wall Street Analyst Weigh In

Several research firms have recently weighed in on TBLA. Benchmark reaffirmed a “buy” rating and issued a $6.00 price target on shares of Taboola.com in a report on Monday, May 6th. B. Riley restated a “buy” rating and issued a $5.25 target price on shares of Taboola.com in a research note on Wednesday, April 24th. Finally, Needham & Company LLC lowered their price target on Taboola.com from $6.00 to $5.00 and set a “buy” rating on the stock in a report on Friday, July 5th. Five equities research analysts have rated the stock with a buy rating, According to data from MarketBeat, the company currently has an average rating of “Buy” and a consensus target price of $5.59.

Taboola.com Stock Performance

The company’s 50-day moving average price is $3.73 and its two-hundred day moving average price is $4.16. The stock has a market cap of $1.01 billion, a PE ratio of -15.09 and a beta of 1.29. The company has a debt-to-equity ratio of 0.14, a quick ratio of 1.31 and a current ratio of 1.31.

Taboola.com (NASDAQ:TBLA) last released its quarterly earnings results on Wednesday, May 8th. The company reported ($0.08) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.09) by $0.01. Taboola.com had a negative return on equity of 2.64% and a negative net margin of 5.04%. The business had revenue of $414.01 million for the quarter, compared to the consensus estimate of $401.73 million. On average, equities research analysts forecast that Taboola.com Ltd. will post 0.03 EPS for the current year.

Institutional Trading of Taboola.com

Several hedge funds and other institutional investors have recently bought and sold shares of TBLA. Wellington Management Group LLP grew its position in Taboola.com by 22.2% during the 4th quarter. Wellington Management Group LLP now owns 15,767,681 shares of the company’s stock worth $68,274,000 after acquiring an additional 2,859,451 shares during the last quarter. Migdal Insurance & Financial Holdings Ltd. raised its stake in shares of Taboola.com by 20.9% during the fourth quarter. Migdal Insurance & Financial Holdings Ltd. now owns 4,043,235 shares of the company’s stock valued at $17,507,000 after acquiring an additional 700,000 shares during the last quarter. Checchi Capital Advisers LLC boosted its holdings in shares of Taboola.com by 38.5% during the first quarter. Checchi Capital Advisers LLC now owns 1,069,944 shares of the company’s stock worth $4,751,000 after purchasing an additional 297,411 shares during the period. Yarra Square Partners LP raised its position in Taboola.com by 6.6% during the 1st quarter. Yarra Square Partners LP now owns 1,049,485 shares of the company’s stock valued at $4,660,000 after purchasing an additional 65,000 shares during the last quarter. Finally, Levin Capital Strategies L.P. lifted its holdings in Taboola.com by 238.1% in the 1st quarter. Levin Capital Strategies L.P. now owns 884,104 shares of the company’s stock worth $3,925,000 after buying an additional 622,614 shares during the period. Hedge funds and other institutional investors own 42.89% of the company’s stock.

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.