Taboola.com (NASDAQ:TBLA) Hits New 52-Week High – Here’s What Happened

Taboola.com Ltd. (NASDAQ:TBLA) shares reached a new 52-week high during mid-day trading on Wednesday . The company traded as high as $5.26 and last traded at $5.1950, with a volume of 2690804 shares. The stock had previously closed at $5.00.

Wall Street Analysts Forecast Growth

TBLA has been the subject of several recent research reports. Zacks Research lowered shares of Taboola.com from a “strong-buy” rating to a “hold” rating in a research report on Monday, April 27th. Wall Street Zen upgraded shares of Taboola.com from a “buy” rating to a “strong-buy” rating in a research report on Saturday, May 9th. Benchmark lifted their price target on shares of Taboola.com from $4.50 to $6.50 and gave the stock a “buy” rating in a research note on Thursday, May 7th. Needham & Company LLC boosted their price objective on shares of Taboola.com from $4.50 to $5.50 and gave the company a “buy” rating in a research report on Thursday, May 7th. Finally, TD Cowen upped their price objective on Taboola.com from $4.00 to $6.00 and gave the stock a “buy” rating in a research note on Monday, May 11th. Five equities research analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company’s stock. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $5.90.

Taboola.com Stock Performance

The company has a current ratio of 1.13, a quick ratio of 1.13 and a debt-to-equity ratio of 0.07. The business’s 50 day moving average is $4.64 and its two-hundred day moving average is $4.01. The company has a market cap of $1.27 billion, a PE ratio of 13.68 and a beta of 1.51.

Taboola.com (NASDAQ:TBLA) last issued its earnings results on Wednesday, May 6th. The company reported $0.20 earnings per share for the quarter, topping the consensus estimate of ($0.01) by $0.21. Taboola.com had a net margin of 5.64% and a return on equity of 10.72%. The company had revenue of $466.39 million during the quarter, compared to the consensus estimate of $453.30 million. During the same quarter in the prior year, the firm posted ($0.03) EPS. Taboola.com’s quarterly revenue was up 9.1% compared to the same quarter last year. On average, equities research analysts anticipate that Taboola.com Ltd. will post 0.41 EPS for the current year.

Insider Buying and Selling at Taboola.com

In related news, major shareholder Apollo Management Holdings Gp, sold 12,000,000 shares of the stock in a transaction dated Thursday, May 28th. The stock was sold at an average price of $4.40, for a total transaction of $52,800,000.00. Following the completion of the sale, the insider owned 18,039,644 shares in the company, valued at approximately $79,374,433.60. This trade represents a 39.95% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. 20.60% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Quarry LP purchased a new stake in Taboola.com during the 3rd quarter valued at approximately $42,000. Headlands Technologies LLC purchased a new position in Taboola.com during the second quarter valued at $43,000. Captrust Financial Advisors purchased a new position in Taboola.com during the second quarter valued at $46,000. Abacus Wealth Partners LLC bought a new stake in Taboola.com in the 4th quarter valued at $48,000. Finally, Schonfeld Strategic Advisors LLC bought a new stake in Taboola.com in the 3rd quarter valued at $54,000. 42.89% of the stock is currently owned by institutional investors.

About Taboola.com

Taboola.com (NASDAQ: TBLA) operates a leading content discovery platform that connects advertisers with premium publishers through native advertising and personalized recommendations. The company’s technology analyzes user behavior and contextual information to deliver promoted content, video, and product recommendations to audiences across a network of thousands of websites and mobile apps. By leveraging machine learning and big data, Taboola helps publishers generate incremental revenue while enabling advertisers to reach engaged users at scale.

Taboola’s suite of products includes feed placements, video recommendations, and sponsored content units designed to blend seamlessly with editorial pages.