Needham & Company LLC Forecasts Strong Price Appreciation for Taboola.com (NASDAQ:TBLA) Stock

Taboola.com (NASDAQ:TBLA) had its price objective boosted by equities research analysts at Needham & Company LLC from $3.34 to $4.50 in a research note issued on Tuesday,Benzinga reports. The brokerage presently has a “buy” rating on the stock. Needham & Company LLC’s target price indicates a potential upside of 23.29% from the stock’s previous close.

Other equities research analysts also recently issued research reports about the company. B. Riley raised Taboola.com from a “neutral” rating to a “buy” rating and set a $4.00 price objective for the company in a report on Thursday, May 8th. Citizens Jmp lowered shares of Taboola.com from an “outperform” rating to a “market perform” rating in a research note on Thursday, February 27th. Oppenheimer reiterated a “market perform” rating on shares of Taboola.com in a research note on Wednesday, February 26th. Finally, Benchmark lowered their price target on Taboola.com from $4.50 to $4.00 and set a “buy” rating on the stock in a research report on Thursday, May 8th. Two equities research analysts have rated the stock with a hold rating and four have given a buy rating to the company’s stock. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $4.38.

Taboola.com Stock Performance

TBLA opened at $3.65 on Tuesday. The business’s 50-day simple moving average is $3.27 and its 200 day simple moving average is $3.41. Taboola.com has a 52-week low of $2.50 and a 52-week high of $4.30. The company has a debt-to-equity ratio of 0.13, a quick ratio of 1.32 and a current ratio of 1.32. The firm has a market capitalization of $1.17 billion, a PE ratio of 91.27 and a beta of 1.29.

Taboola.com declared that its Board of Directors has approved a share buyback plan on Wednesday, February 26th that authorizes the company to repurchase $200.00 million in outstanding shares. This repurchase authorization authorizes the company to reacquire up to 22.2% of its stock through open market purchases. Stock repurchase plans are often an indication that the company’s board believes its shares are undervalued.

Hedge Funds Weigh In On Taboola.com

A number of large investors have recently made changes to their positions in TBLA. Bridgeway Capital Management LLC boosted its stake in shares of Taboola.com by 1,257.3% in the fourth quarter. Bridgeway Capital Management LLC now owns 1,362,422 shares of the company’s stock valued at $4,973,000 after buying an additional 1,262,042 shares during the period. Wellington Management Group LLP raised its position in shares of Taboola.com by 6.1% in the 4th quarter. Wellington Management Group LLP now owns 19,205,915 shares of the company’s stock valued at $70,102,000 after buying an additional 1,109,602 shares in the last quarter. Millennium Management LLC raised its position in shares of Taboola.com by 42.9% in the 4th quarter. Millennium Management LLC now owns 2,217,442 shares of the company’s stock valued at $8,094,000 after buying an additional 665,944 shares in the last quarter. Yelin Lapidot Holdings Management Ltd. bought a new position in Taboola.com in the fourth quarter valued at approximately $1,724,000. Finally, Renaissance Technologies LLC increased its stake in Taboola.com by 40.2% in the fourth quarter. Renaissance Technologies LLC now owns 1,546,300 shares of the company’s stock valued at $5,644,000 after acquiring an additional 443,700 shares during the last quarter. Institutional investors own 42.89% of the company’s stock.

Taboola.com Company Profile

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.