Benchmark Reaffirms “Buy” Rating for Taboola.com (NASDAQ:TBLA)

Benchmark reissued their buy rating on shares of Taboola.com (NASDAQ:TBLA) in a research note published on Thursday,Benzinga reports. They currently have a $4.50 price objective on the stock.

TBLA has been the topic of a number of other research reports. JMP Securities lowered their price target on Taboola.com from $6.00 to $5.00 and set a “market outperform” rating on the stock in a research report on Monday, January 27th. B. Riley downgraded shares of Taboola.com from a “buy” rating to a “neutral” rating and reduced their price objective for the company from $5.00 to $4.00 in a research report on Thursday, February 27th. Oppenheimer reaffirmed a “market perform” rating on shares of Taboola.com in a research note on Wednesday, February 26th. 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. Finally, Citizens Jmp lowered shares of Taboola.com from an “outperform” rating to a “market perform” rating in a report on Thursday, February 27th. Three equities research analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. Based on data from MarketBeat.com, Taboola.com currently has an average rating of “Moderate Buy” and an average target price of $4.38.

Taboola.com Stock Performance

Taboola.com stock opened at $2.96 on Thursday. The firm’s 50 day simple moving average is $3.39 and its 200 day simple moving average is $3.49. The firm has a market capitalization of $872.21 million, a PE ratio of -29.60 and a beta of 1.33. 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 $2.69 and a 1-year high of $4.60.

Taboola.com announced that its board has approved a stock repurchase program on Wednesday, February 26th that authorizes the company to repurchase $200.00 million in shares. This repurchase authorization authorizes the company to repurchase up to 22.2% of its stock through open market purchases. Stock repurchase programs are often a sign that the company’s board of directors believes its stock is undervalued.

Insider Buying and Selling

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

Hedge Funds Weigh In On Taboola.com

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Harbor Capital Advisors Inc. boosted its stake in shares of Taboola.com by 22.6% during the 4th quarter. Harbor Capital Advisors Inc. now owns 33,051 shares of the company’s stock worth $121,000 after purchasing an additional 6,094 shares during the period. Meitav Investment House Ltd. increased its holdings in 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 buying an additional 6,500 shares during the period. Tidal Investments LLC lifted its stake in shares of Taboola.com by 4.6% during the 3rd quarter. Tidal Investments LLC now owns 183,856 shares of the company’s stock worth $618,000 after purchasing an additional 8,127 shares during the last quarter. Wolverine Trading LLC lifted its position in Taboola.com by 98.4% during the fourth quarter. Wolverine Trading LLC now owns 17,063 shares of the company’s stock valued at $63,000 after acquiring an additional 8,463 shares during the last quarter. Finally, State Street Corp boosted its position in shares of Taboola.com by 5.5% in the 3rd quarter. State Street Corp now owns 305,350 shares of the company’s stock worth $1,026,000 after purchasing an additional 16,055 shares in the last quarter. 42.89% of the stock is owned by 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.