Analysts Set Taboola.com Ltd. (NASDAQ:TBLA) Price Target at $4.50

Taboola.com Ltd. (NASDAQ:TBLA) has received a consensus rating of “Moderate Buy” from the six brokerages that are covering the firm, MarketBeat reports. Three investment analysts have rated the stock with a hold recommendation and three have given a buy recommendation to the company. The average 1 year price objective among analysts that have issued ratings on the stock in the last year is $4.38.

A number of research firms have weighed in on TBLA. Needham & Company LLC reaffirmed a “buy” rating and issued a $4.00 price objective on shares of Taboola.com in a research note on Thursday. Citizens Jmp downgraded Taboola.com from an “outperform” rating to a “market perform” rating in a research note on Thursday, February 27th. JMP Securities cut their target price on Taboola.com from $6.00 to $5.00 and set a “market outperform” rating on the stock in a research report on Monday, January 27th. Benchmark reiterated a “buy” rating and issued a $4.50 target price on shares of Taboola.com in a research note on Thursday. Finally, B. Riley lowered shares of Taboola.com from a “buy” rating to a “neutral” rating and dropped their price target for the company from $5.00 to $4.00 in a research report on Thursday, February 27th.

Taboola.com Price Performance

Shares of NASDAQ:TBLA opened at $2.96 on Monday. Taboola.com has a twelve month low of $2.69 and a twelve month high of $4.60. The stock’s 50 day moving average is $3.39 and its 200-day moving average is $3.48. 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 firm has a market capitalization of $872.21 million, a price-to-earnings ratio of -29.60 and a beta of 1.33.

Taboola.com announced that its Board of Directors has initiated a share repurchase program on Wednesday, February 26th that permits the company to repurchase $200.00 million in outstanding shares. This repurchase authorization permits the company to purchase up to 22.2% of its shares through open market purchases. Shares repurchase programs are usually an indication that the company’s management believes its stock is undervalued.

Insider Activity

In other Taboola.com news, Director Zvi Limon acquired 168,506 shares of the stock in a transaction that occurred on Thursday, February 27th. The shares were bought at an average price of $2.93 per share, for a total transaction of $493,722.58. Following the completion of the transaction, the director now owns 2,987,383 shares of the company’s stock, valued at approximately $8,753,032.19. This represents a 5.98 % increase in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO Adam Singolda bought 60,229 shares of Taboola.com stock in a transaction that occurred on Friday, February 28th. The shares were acquired at an average price of $2.72 per share, with a total value of $163,822.88. Following the completion of the transaction, the chief executive officer now owns 14,462,943 shares of the company’s stock, valued at $39,339,204.96. This represents a 0.42 % increase in their ownership of the stock. The disclosure for this purchase can be found here. 22.40% of the stock is owned by company insiders.

Institutional Investors Weigh In On Taboola.com

A number of institutional investors and hedge funds have recently bought and sold shares of the stock. Bridgeway Capital Management LLC raised its position in Taboola.com by 1,257.3% during the fourth quarter. Bridgeway Capital Management LLC now owns 1,362,422 shares of the company’s stock valued at $4,973,000 after purchasing an additional 1,262,042 shares in the last quarter. Wellington Management Group LLP boosted its stake in Taboola.com by 6.1% in the fourth quarter. Wellington Management Group LLP now owns 19,205,915 shares of the company’s stock worth $70,102,000 after buying an additional 1,109,602 shares in the last quarter. Millennium Management LLC grew its position in Taboola.com by 42.9% during the fourth quarter. Millennium Management LLC now owns 2,217,442 shares of the company’s stock valued at $8,094,000 after acquiring an additional 665,944 shares during the last quarter. Yelin Lapidot Holdings Management Ltd. bought a new position in Taboola.com during the fourth quarter valued at approximately $1,724,000. Finally, Renaissance Technologies LLC raised its stake in shares of Taboola.com by 40.2% during the fourth quarter. Renaissance Technologies LLC now owns 1,546,300 shares of the company’s stock worth $5,644,000 after acquiring an additional 443,700 shares in the last quarter. 42.89% of the stock is owned by hedge funds and other institutional investors.

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.