Taboola.com Ltd. (NASDAQ:TBLA) Receives $4.50 Consensus PT from Analysts

Taboola.com Ltd. (NASDAQ:TBLA) has earned an average rating of “Moderate Buy” from the six brokerages that are presently covering the firm, MarketBeat reports. Three research analysts have rated the stock with a hold recommendation and three have given a buy recommendation to the company. The average twelve-month price objective among analysts that have updated their coverage on the stock in the last year is $4.38.

TBLA has been the topic of several recent research reports. JMP Securities lowered their price objective 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. Needham & Company LLC reissued a “buy” rating and set a $4.00 target price on shares of Taboola.com in a research note on Thursday. Oppenheimer restated a “market perform” rating on shares of Taboola.com in a research note on Wednesday, February 26th. Citizens Jmp lowered Taboola.com from an “outperform” rating to a “market perform” rating in a research report on Thursday, February 27th. Finally, B. Riley downgraded shares of Taboola.com from a “buy” rating to a “neutral” rating and cut their target price for the stock from $5.00 to $4.00 in a research report on Thursday, February 27th.

Taboola.com Stock Performance

NASDAQ TBLA opened at $2.96 on Monday. The firm has a 50-day moving average of $3.39 and a 200-day moving average of $3.49. The stock has a market cap of $872.21 million, a PE ratio of -29.60 and a beta of 1.33. Taboola.com has a 52-week low of $2.69 and a 52-week high of $4.60. 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 declared that its board has initiated a share buyback plan 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 plans are often a sign that the company’s leadership believes its shares are undervalued.

Insider Buying and Selling at Taboola.com

In other Taboola.com news, CEO Adam Singolda purchased 60,229 shares of Taboola.com stock in a transaction that occurred on 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 transaction, the chief executive officer now owns 14,462,943 shares in the company, valued at $39,339,204.96. This trade represents a 0.42 % increase in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Zvi Limon bought 168,506 shares of the stock in a transaction that occurred on Thursday, February 27th. The stock was acquired at an average price of $2.93 per share, for a total transaction of $493,722.58. Following the acquisition, the director now directly owns 2,987,383 shares in the company, valued at $8,753,032.19. The trade was a 5.98 % 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 Inflows and Outflows

Several hedge funds have recently modified their holdings of the stock. JPMorgan Chase & Co. lifted its stake in 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 acquiring an additional 257,009 shares in the last quarter. Yelin Lapidot Holdings Management Ltd. purchased a new stake in shares of Taboola.com in the fourth quarter valued at about $1,724,000. Empowered Funds LLC lifted its position in shares of Taboola.com by 410.5% during the fourth quarter. Empowered Funds LLC now owns 512,422 shares of the company’s stock valued at $1,870,000 after purchasing an additional 412,042 shares in the last quarter. Harbor Capital Advisors Inc. boosted its holdings in Taboola.com by 22.6% during the fourth quarter. Harbor Capital Advisors Inc. now owns 33,051 shares of the company’s stock worth $121,000 after purchasing an additional 6,094 shares during the last quarter. Finally, Barclays PLC grew its position in Taboola.com by 1,218.5% in 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 in the last quarter. 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.