Taboola.com (NASDAQ:TBLA) Shares Up 5.5% After Analyst Upgrade

Taboola.com Ltd. (NASDAQ:TBLA) was up 5.5% during mid-day trading on Tuesday after Needham & Company LLC raised their price target on the stock from $3.34 to $4.50. Needham & Company LLC currently has a buy rating on the stock. Taboola.com traded as high as $3.77 and last traded at $3.76. Approximately 1,099,941 shares were traded during trading, a decline of 40% from the average daily volume of 1,820,140 shares. The stock had previously closed at $3.56.

Several other brokerages also recently commented on TBLA. Oppenheimer reissued a “market perform” rating on shares of Taboola.com in a research note on Wednesday, February 26th. Benchmark dropped their price objective on shares of Taboola.com from $4.50 to $4.00 and set a “buy” rating for the company in a research note on Thursday, May 8th. Citizens Jmp downgraded shares of Taboola.com from an “outperform” rating to a “market perform” rating in a research note on Thursday, February 27th. Finally, B. Riley raised shares of Taboola.com from a “neutral” rating to a “buy” rating and set a $4.00 price target for the company in a research note 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, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $4.38.

Hedge Funds Weigh In On Taboola.com

Several large investors have recently modified their holdings of TBLA. Meitav Investment House Ltd. raised its stake in shares of Taboola.com by 9.4% during the fourth quarter. Meitav Investment House Ltd. now owns 75,500 shares of the company’s stock valued at $279,000 after acquiring an additional 6,500 shares during the last quarter. Yelin Lapidot Holdings Management Ltd. bought a new position in shares of Taboola.com during the fourth quarter valued at $1,724,000. Connor Clark & Lunn Investment Management Ltd. raised its stake in Taboola.com by 4.5% during the fourth quarter. Connor Clark & Lunn Investment Management Ltd. now owns 1,480,668 shares of the company’s stock worth $5,404,000 after buying an additional 63,324 shares during the last quarter. Globeflex Capital L P bought a new position in Taboola.com during the fourth quarter worth $778,000. Finally, Teacher Retirement System of Texas raised its stake in Taboola.com by 263.2% during the fourth quarter. Teacher Retirement System of Texas now owns 130,494 shares of the company’s stock worth $476,000 after buying an additional 94,565 shares during the last quarter. Institutional investors own 42.89% of the company’s stock.

Taboola.com Price Performance

The business’s 50 day moving average is $3.27 and its two-hundred day moving average is $3.41. The firm has a market cap of $1.17 billion, a P/E ratio of 91.27 and a beta of 1.29. The company has a quick ratio of 1.32, a current ratio of 1.32 and a debt-to-equity ratio of 0.13.

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