Taboola.com (NASDAQ:TBLA) Board of Directors Authorizes Share Buyback Program

Taboola.com (NASDAQ:TBLA) declared that its Board of Directors has initiated a share repurchase program on Wednesday, February 26th, RTT News reports. The company plans to repurchase $200.00 million in shares. This repurchase authorization permits the company to reacquire up to 22.2% of its shares through open market purchases. Shares repurchase programs are generally an indication that the company’s leadership believes its shares are undervalued.

Analysts Set New Price Targets

A number of equities analysts have issued reports on TBLA shares. Oppenheimer reaffirmed a “market perform” rating on shares of Taboola.com in a report on Wednesday. Benchmark reaffirmed a “buy” rating and issued a $5.00 target price on shares of Taboola.com in a report on Tuesday. Needham & Company LLC reaffirmed a “buy” rating and issued a $5.00 target price on shares of Taboola.com in a report on Friday, January 17th. Finally, JMP Securities lowered their target price on Taboola.com from $6.00 to $5.00 and set a “market outperform” rating for the company in a report on Monday, January 27th. One investment analyst has rated the stock with a hold rating and four have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $5.25.

Taboola.com Trading Down 16.5 %

Shares of TBLA stock opened at $3.09 on Thursday. The stock has a market cap of $902.27 million, a price-to-earnings ratio of -30.90 and a beta of 1.27. The stock has a 50-day moving average of $3.74 and a 200-day moving average of $3.55. The company has a current ratio of 1.31, a quick ratio of 1.31 and a debt-to-equity ratio of 0.14. Taboola.com has a 1-year low of $2.87 and a 1-year high of $4.96.

Taboola.com (NASDAQ:TBLA) last issued its quarterly earnings results on Wednesday, February 26th. The company reported $0.10 earnings per share for the quarter, missing the consensus estimate of $0.11 by ($0.01). Taboola.com had a negative net margin of 1.96% and a negative return on equity of 1.68%.

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.