Taboola.com (NASDAQ:TBLA) Rating Reiterated by Needham & Company LLC

Needham & Company LLC reaffirmed their buy rating on shares of Taboola.com (NASDAQ:TBLA) in a report released on Thursday morning, Benzinga reports. The firm currently has a $5.00 price objective on the stock.

TBLA has been the topic of a number of other research reports. Benchmark reiterated a buy rating and set a $6.00 price target on shares of Taboola.com in a research report on Tuesday, August 6th. B. Riley reissued a buy rating and issued a $5.25 price target on shares of Taboola.com in a research note on Wednesday, April 24th. Four research analysts have rated the stock with a buy rating, Based on data from MarketBeat, the stock currently has a consensus rating of Buy and an average target price of $5.56.

Taboola.com Price Performance

NASDAQ:TBLA opened at $3.14 on Thursday. The company has a 50 day moving average price of $3.42 and a 200-day moving average price of $4.05. Taboola.com has a 1-year low of $2.87 and a 1-year high of $5.00. The firm has a market cap of $912.90 million, a price-to-earnings ratio of -13.65 and a beta of 1.29. 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 (NASDAQ:TBLA) last released its quarterly earnings data on Wednesday, August 7th. The company reported ($0.01) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.05) by $0.04. Taboola.com had a negative net margin of 5.04% and a negative return on equity of 2.64%. The company had revenue of $428.00 million during the quarter, compared to analysts’ expectations of $428.67 million. During the same quarter in the previous year, the company earned ($0.05) earnings per share. The firm’s revenue for the quarter was up 28.9% on a year-over-year basis. Equities research analysts forecast that Taboola.com will post 0.03 EPS for the current year.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Wellington Management Group LLP raised its position in shares of Taboola.com by 22.2% in the fourth quarter. Wellington Management Group LLP now owns 15,767,681 shares of the company’s stock valued at $68,274,000 after buying an additional 2,859,451 shares during the last quarter. Acadian Asset Management LLC grew its stake in Taboola.com by 181.2% during the 2nd quarter. Acadian Asset Management LLC now owns 1,888,614 shares of the company’s stock valued at $6,489,000 after acquiring an additional 1,216,902 shares in the last quarter. Migdal Insurance & Financial Holdings Ltd. raised its holdings in Taboola.com by 20.9% in the 4th 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. Levin Capital Strategies L.P. lifted its stake 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 purchasing an additional 622,614 shares in the last quarter. Finally, GSA Capital Partners LLP lifted its position in Taboola.com by 292.4% during the fourth quarter. GSA Capital Partners LLP now owns 657,758 shares of the company’s stock worth $2,848,000 after buying an additional 490,149 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.