Taboola.com (NASDAQ:TBLA) Hits New 52-Week Low – Here’s Why

Taboola.com Ltd. (NASDAQ:TBLA)’s share price hit a new 52-week low during trading on Friday . The stock traded as low as $2.63 and last traded at $2.70, with a volume of 924030 shares. The stock had previously closed at $2.85.

Wall Street Analyst Weigh In

TBLA has been the subject of several research reports. Oppenheimer restated a “market perform” rating on shares of Taboola.com in a research report on Wednesday, February 26th. Needham & Company LLC restated a “buy” rating and set a $4.00 target price on shares of Taboola.com in a report on Thursday, March 27th. 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 report on Monday, January 27th. Benchmark reissued a “buy” rating and set a $4.50 price objective on shares of Taboola.com in a research note on Thursday, March 27th. Finally, B. Riley lowered 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. Three research analysts have rated the stock with a hold rating and three have issued a buy rating to the company. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $4.38.

Taboola.com Stock Down 6.7 %

The company has a debt-to-equity ratio of 0.14, a quick ratio of 1.31 and a current ratio of 1.31. The stock has a market cap of $783.81 million, a price-to-earnings ratio of -26.60 and a beta of 1.21. The business’s 50 day moving average is $3.32 and its 200 day moving average is $3.47.

Taboola.com declared that its board has authorized a stock buyback plan on Wednesday, February 26th that allows the company to buyback $200.00 million in outstanding shares. This buyback authorization allows the company to reacquire up to 22.2% of its shares through open market purchases. Shares buyback plans are generally an indication that the company’s board of directors believes its stock is undervalued.

Insider Transactions at Taboola.com

In other news, CEO Adam Singolda bought 60,229 shares of the stock in a transaction on Friday, February 28th. The shares were purchased at an average price of $2.72 per share, for a total transaction of $163,822.88. Following the completion of the purchase, the chief executive officer now directly owns 14,462,943 shares of the company’s stock, valued at $39,339,204.96. This trade represents a 0.42 % increase in their position. The purchase was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Zvi Limon purchased 168,506 shares of Taboola.com stock in a transaction dated Thursday, February 27th. The shares were purchased at an average price of $2.93 per share, with a total value of $493,722.58. Following the completion of the acquisition, the director now 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. 22.40% of the stock is owned by insiders.

Hedge Funds Weigh In On Taboola.com

Hedge funds have recently added to or reduced their stakes in the company. Wolverine Trading LLC grew its position in Taboola.com by 98.4% in the fourth quarter. Wolverine Trading LLC now owns 17,063 shares of the company’s stock worth $63,000 after acquiring an additional 8,463 shares in the last quarter. R Squared Ltd bought a new stake in Taboola.com in the fourth quarter worth $68,000. Virtu Financial LLC acquired a new position in Taboola.com during the fourth quarter worth $81,000. Aquatic Capital Management LLC bought a new position in Taboola.com during the fourth quarter valued at about $103,000. Finally, KLP Kapitalforvaltning AS bought a new stake in shares of Taboola.com during the 4th quarter worth about $109,000. Institutional investors and hedge funds own 42.89% of the company’s stock.

Taboola.com Company Profile

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.