Brokerages Set Taboola.com Ltd. (NASDAQ:TBLA) PT at $4.50

Shares of Taboola.com Ltd. (NASDAQ:TBLA) have been assigned a consensus rating of “Moderate Buy” from the six brokerages that are presently covering the firm, MarketBeat Ratings reports. Three analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. The average 1-year price target among analysts that have covered the stock in the last year is $4.38.

Several brokerages have weighed in on TBLA. Benchmark reissued a “buy” rating and set a $4.50 price objective on shares of Taboola.com in a report on Thursday. Oppenheimer reissued a “market perform” rating on shares of Taboola.com in a research note on Wednesday, February 26th. Needham & Company LLC reissued a “buy” rating and issued a $4.00 target price on shares of Taboola.com in a research note on Thursday. JMP Securities decreased their target price on Taboola.com from $6.00 to $5.00 and set a “market outperform” rating for the company in a research report on Monday, January 27th. Finally, B. Riley downgraded shares of Taboola.com from a “buy” rating to a “neutral” rating and cut their price target for the company from $5.00 to $4.00 in a research report on Thursday, February 27th.

Insider Activity

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

Institutional Inflows and Outflows

Several large investors have recently bought and sold shares of the stock. Bridgeway Capital Management LLC increased its position in shares of Taboola.com by 1,257.3% during the 4th quarter. Bridgeway Capital Management LLC now owns 1,362,422 shares of the company’s stock worth $4,973,000 after purchasing an additional 1,262,042 shares during the last quarter. Wellington Management Group LLP increased its holdings in Taboola.com by 6.1% during the fourth 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 during the last quarter. Millennium Management LLC raised its position in Taboola.com by 42.9% during 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. acquired a new stake in Taboola.com in the fourth quarter valued at $1,724,000. Finally, Renaissance Technologies LLC lifted 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 valued at $5,644,000 after acquiring an additional 443,700 shares during the last quarter. 42.89% of the stock is owned by institutional investors and hedge funds.

Taboola.com Stock Performance

Shares of Taboola.com stock opened at $2.96 on Monday. The firm has a market cap of $872.21 million, a P/E ratio of -29.60 and a beta of 1.33. Taboola.com has a fifty-two week low of $2.69 and a fifty-two week high of $4.60. The company has a debt-to-equity ratio of 0.14, a current ratio of 1.31 and a quick ratio of 1.31. The firm has a 50 day simple moving average of $3.39 and a 200 day simple moving average of $3.49.

Taboola.com announced that its board has initiated a stock buyback plan 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 shares through open market purchases. Shares repurchase plans are often a sign that the company’s board of directors believes its stock is undervalued.

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.