Taboola.com (NASDAQ:TBLA) Price Target Cut to $4.00 by Analysts at Needham & Company LLC

Taboola.com (NASDAQ:TBLA) had its price objective reduced by analysts at Needham & Company LLC from $5.00 to $4.00 in a research report issued to clients and investors on Thursday,Benzinga reports. The firm presently has a “buy” rating on the stock. Needham & Company LLC’s target price would suggest a potential upside of 46.52% from the stock’s current price.

Several other brokerages also recently weighed in on TBLA. Oppenheimer restated a “market perform” rating on shares of Taboola.com in a research report on Wednesday. Benchmark reiterated a “buy” rating and issued a $5.00 target price on shares of Taboola.com in a research report on Tuesday. Citizens Jmp downgraded Taboola.com from an “outperform” rating to a “market perform” rating in a research report on Thursday. B. Riley downgraded Taboola.com from a “buy” rating to a “neutral” rating and dropped their target price for the company from $5.00 to $4.00 in a research report on Thursday. Finally, JMP Securities dropped their target price on 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. Three equities 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 an average target price of $4.50.

Taboola.com Price Performance

Shares of TBLA stock opened at $2.73 on Thursday. The company has a quick ratio of 1.31, a current ratio of 1.31 and a debt-to-equity ratio of 0.14. Taboola.com has a twelve month low of $2.69 and a twelve month high of $4.76. The company has a market cap of $797.15 million, a P/E ratio of -27.30 and a beta of 1.27. The business has a fifty day simple moving average of $3.70 and a 200 day simple moving average of $3.54.

Taboola.com announced that its Board of Directors has authorized a stock repurchase plan on Wednesday, February 26th that authorizes the company to repurchase $200.00 million in shares. This repurchase authorization authorizes the company to buy up to 22.2% of its shares through open market purchases. Shares repurchase plans are typically an indication that the company’s management believes its stock is undervalued.

Insider Activity

In related news, Director Zvi Limon purchased 168,506 shares of the firm’s stock in a transaction dated Thursday, February 27th. The stock was bought at an average price of $2.93 per share, with a total value of $493,722.58. Following the completion of the purchase, the director now owns 2,987,383 shares in the company, valued at approximately $8,753,032.19. This represents a 5.98 % increase in their position. The acquisition was disclosed in a legal filing with the SEC, which is available at this link. Also, CEO Adam Singolda purchased 60,229 shares of the firm’s stock in a transaction dated Friday, February 28th. The stock was bought at an average cost of $2.72 per share, with a total value of $163,822.88. Following the purchase, the chief executive officer now owns 14,462,943 shares of the company’s stock, valued at approximately $39,339,204.96. This trade represents a 0.42 % increase in their position. The disclosure for this purchase can be found here. Insiders own 22.40% of the company’s stock.

Institutional Investors Weigh In On Taboola.com

Several large investors have recently added to or reduced their stakes in the business. Harbor Capital Advisors Inc. grew its stake 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 period. Meitav Investment House Ltd. lifted its holdings in Taboola.com by 9.4% during the fourth quarter. Meitav Investment House Ltd. now owns 75,500 shares of the company’s stock worth $279,000 after acquiring an additional 6,500 shares during the period. Tidal Investments LLC lifted its holdings in Taboola.com by 4.6% during the third quarter. Tidal Investments LLC now owns 183,856 shares of the company’s stock worth $618,000 after acquiring an additional 8,127 shares during the period. Wolverine Trading LLC lifted its holdings in Taboola.com by 98.4% during 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 during the period. Finally, Intellectus Partners LLC lifted its holdings in Taboola.com by 4.5% during the third quarter. Intellectus Partners LLC now owns 367,668 shares of the company’s stock worth $1,235,000 after acquiring an additional 16,000 shares during the period. Institutional investors and hedge funds 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.