Taboola.com (NASDAQ:TBLA) Downgraded to Neutral Rating by B. Riley

Taboola.com (NASDAQ:TBLA) was downgraded by analysts at B. Riley from a “buy” rating to a “neutral” rating in a report issued on Thursday, Marketbeat reports. They currently have a $4.00 price objective on the stock, down from their previous price objective of $5.00. B. Riley’s target price would suggest a potential upside of 46.52% from the company’s previous close.

Several other research analysts also recently weighed in on TBLA. Needham & Company LLC restated a “buy” rating and set a $5.00 price objective on shares of Taboola.com in a report on Friday, January 17th. JMP Securities lowered their target price on shares of Taboola.com from $6.00 to $5.00 and set a “market outperform” rating for the company in a report on Monday, January 27th. Benchmark restated a “buy” rating and set a $5.00 price target on shares of Taboola.com in a research report on Tuesday. Finally, Oppenheimer restated a “market perform” rating on shares of Taboola.com in a research report on Wednesday. Three research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $4.50.

Taboola.com Stock Down 3.2 %

Taboola.com 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. The firm’s fifty day moving average is $3.70 and its 200 day moving average is $3.54. Taboola.com has a 12-month low of $2.69 and a 12-month high of $4.76. The company has a market capitalization of $797.15 million, a PE ratio of -27.30 and a beta of 1.27.

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

Insiders Place Their Bets

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

Institutional Investors Weigh In On Taboola.com

Hedge funds have recently bought and sold shares of the stock. Aigen Investment Management LP bought a new stake in Taboola.com during the third quarter valued at approximately $63,000. Wolverine Trading LLC lifted its holdings in shares of Taboola.com by 98.4% in the 4th 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 last quarter. R Squared Ltd bought a new stake in shares of Taboola.com in the 4th quarter worth approximately $68,000. Virtu Financial LLC purchased a new position in shares of Taboola.com in the fourth quarter worth $81,000. Finally, Aquatic Capital Management LLC purchased a new position in shares of Taboola.com in the fourth quarter worth $103,000. 42.89% of the stock is currently owned by 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.