Taboola.com’s (TBLA) Buy Rating Reaffirmed at Benchmark

Taboola.com (NASDAQ:TBLA)‘s stock had its “buy” rating reissued by Benchmark in a note issued to investors on Thursday,Benzinga reports. They presently have a $4.50 price target on the stock. Benchmark’s price objective would suggest a potential upside of 46.82% from the stock’s previous close.

Other research analysts have also issued research reports about the stock. JMP Securities cut their price target on shares of Taboola.com from $6.00 to $5.00 and set a “market outperform” rating on the stock in a research note on Monday, January 27th. B. Riley lowered shares of Taboola.com from a “buy” rating to a “neutral” rating and reduced their target price for the stock from $5.00 to $4.00 in a research note on Thursday, February 27th. Citizens Jmp cut Taboola.com from an “outperform” rating to a “market perform” rating in a report on Thursday, February 27th. Oppenheimer restated a “market perform” rating on shares of Taboola.com in a report on Wednesday, February 26th. Finally, Needham & Company LLC reaffirmed a “buy” rating and set a $4.00 price objective on shares of Taboola.com in a research report on Thursday. Three investment analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $4.38.

Taboola.com Trading Up 1.8 %

TBLA stock traded up $0.06 during midday trading on Thursday, hitting $3.07. 203,231 shares of the company’s stock were exchanged, compared to its average volume of 1,127,350. The company has a market cap of $903.15 million, a PE ratio of -30.65 and a beta of 1.33. 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 stock’s fifty day moving average price is $3.42 and its 200-day moving average price is $3.49. Taboola.com has a one year low of $2.69 and a one year high of $4.60.

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

Insiders Place Their Bets

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

Hedge Funds Weigh In On Taboola.com

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

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.