Taboola.com (NASDAQ:TBLA) Reaches New 1-Year Low After Analyst Downgrade

Taboola.com Ltd. (NASDAQ:TBLA)’s share price reached a new 52-week low on Friday after Needham & Company LLC lowered their price target on the stock from $5.00 to $4.00. Needham & Company LLC currently has a buy rating on the stock. Taboola.com traded as low as $2.82 and last traded at $2.82, with a volume of 5026079 shares traded. The stock had previously closed at $3.09.

TBLA has been the subject of a number of other research reports. Benchmark reissued a “buy” rating and set a $5.00 target price on shares of Taboola.com in a research report on Tuesday. Oppenheimer reissued a “market perform” rating on shares of Taboola.com in a research report on Wednesday. Citizens Jmp lowered shares of Taboola.com from an “outperform” rating to a “market perform” rating in a research report on Thursday. JMP Securities cut their price objective on shares of Taboola.com from $6.00 to $5.00 and set a “market outperform” rating for the company in a research report on Monday, January 27th. Finally, B. Riley lowered shares of Taboola.com from a “buy” rating to a “neutral” rating and cut their price objective for the company from $5.00 to $4.00 in a research report on Thursday. Three investment analysts have rated the stock with a hold rating and three have given a buy rating to the stock. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $4.80.

Institutional Inflows and Outflows

A number of large investors have recently made changes to their positions in the stock. JPMorgan Chase & Co. raised its position in Taboola.com by 54.7% in the third quarter. JPMorgan Chase & Co. now owns 727,181 shares of the company’s stock worth $2,443,000 after purchasing an additional 257,009 shares in the last quarter. Empowered Funds LLC raised its position in Taboola.com by 410.5% in the fourth quarter. Empowered Funds LLC now owns 512,422 shares of the company’s stock worth $1,870,000 after purchasing an additional 412,042 shares in the last quarter. Harbor Capital Advisors Inc. raised its position in Taboola.com by 22.6% in 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 in the last quarter. Barclays PLC raised its position in Taboola.com by 1,218.5% in the third 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. Finally, State Street Corp raised its position in Taboola.com by 5.5% in the third quarter. State Street Corp now owns 305,350 shares of the company’s stock worth $1,026,000 after purchasing an additional 16,055 shares in the last quarter. Institutional investors and hedge funds own 42.89% of the company’s stock.

Taboola.com Price Performance

The company has a quick ratio of 1.31, a current ratio of 1.31 and a debt-to-equity ratio of 0.14. The stock has a market cap of $823.43 million, a price-to-earnings ratio of -28.20 and a beta of 1.27. The company’s 50-day moving average is $3.72 and its 200-day moving average is $3.54.

Taboola.com declared that its board has initiated a stock buyback program on Wednesday, February 26th that allows the company to repurchase $200.00 million in shares. This repurchase authorization allows the company to buy up to 22.2% of its shares through open market purchases. Shares repurchase programs are typically a sign that the company’s leadership believes its stock is undervalued.

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.