Needham & Company LLC Reaffirms Buy Rating for Taboola.com (NASDAQ:TBLA)

Needham & Company LLC reaffirmed their buy rating on shares of Taboola.com (NASDAQ:TBLA) in a research report sent to investors on Wednesday morning, Benzinga reports. They currently have a $5.00 target price on the stock.

Separately, Benchmark reiterated a “buy” rating and set a $5.00 target price on shares of Taboola.com in a research report on Monday, October 7th. Four investment analysts have rated the stock with a buy rating, According to MarketBeat, the stock has a consensus rating of “Buy” and an average target price of $5.31.

Taboola.com Stock Performance

TBLA opened at $3.63 on Wednesday. The stock has a market capitalization of $1.06 billion, a price-to-earnings ratio of -15.78 and a beta of 1.29. Taboola.com has a fifty-two week low of $2.87 and a fifty-two week high of $5.00. The company has a debt-to-equity ratio of 0.14, a quick ratio of 1.31 and a current ratio of 1.31. The company has a fifty day moving average of $3.29 and a 200 day moving average of $3.63.

Taboola.com (NASDAQ:TBLA) last issued its earnings results on Wednesday, August 7th. The company reported ($0.01) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.05) by $0.04. Taboola.com had a negative return on equity of 1.57% and a negative net margin of 3.07%. The firm had revenue of $428.00 million for the quarter, compared to analysts’ expectations of $428.67 million. During the same period in the previous year, the firm posted ($0.05) earnings per share. The business’s revenue was up 28.9% compared to the same quarter last year. As a group, sell-side analysts forecast that Taboola.com will post 0.03 earnings per share for the current fiscal year.

Insider Activity at Taboola.com

In other news, Director Lynda M. Clarizio sold 29,606 shares of the firm’s stock in a transaction dated Thursday, August 29th. The shares were sold at an average price of $3.61, for a total value of $106,877.66. Following the completion of the sale, the director now owns 176,158 shares in the company, valued at approximately $635,930.38. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 22.40% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Taboola.com

Several hedge funds and other institutional investors have recently modified their holdings of the business. Wellington Management Group LLP boosted its position in Taboola.com by 22.2% in the 4th quarter. Wellington Management Group LLP now owns 15,767,681 shares of the company’s stock valued at $68,274,000 after buying an additional 2,859,451 shares during the period. Acadian Asset Management LLC lifted its position in shares of Taboola.com by 181.2% during the second quarter. Acadian Asset Management LLC now owns 1,888,614 shares of the company’s stock valued at $6,489,000 after buying an additional 1,216,902 shares during the last quarter. Levin Capital Strategies L.P. grew its holdings in Taboola.com by 238.1% in the first quarter. Levin Capital Strategies L.P. now owns 884,104 shares of the company’s stock worth $3,925,000 after purchasing an additional 622,614 shares during the last quarter. Tredje AP fonden acquired a new position in shares of Taboola.com during the second quarter worth $1,376,000. Finally, Millennium Management LLC lifted its holdings in shares of Taboola.com by 32.3% during the 2nd quarter. Millennium Management LLC now owns 1,339,987 shares of the company’s stock valued at $4,610,000 after purchasing an additional 327,518 shares during the last quarter. 42.89% of the stock is currently owned by hedge funds and other institutional investors.

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.