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

Taboola.com (NASDAQ:TBLA) was downgraded by research analysts at B. Riley from a “buy” rating to a “neutral” rating in a report issued on Thursday,Briefing.com Automated Import reports. They presently have a $4.00 price objective on the stock, down from their previous price objective of $5.00. B. Riley’s price objective indicates a potential upside of 29.45% from the company’s current price.

Several other brokerages have also recently issued reports on TBLA. JMP Securities reduced 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. Needham & Company LLC reaffirmed a “buy” rating and set a $5.00 target price on shares of Taboola.com in a report on Friday, January 17th. Benchmark reiterated 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 equities research analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $5.00.

Taboola.com Stock Performance

TBLA opened at $3.09 on Thursday. 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 12-month low of $2.87 and a 12-month high of $4.96. The firm has a 50 day moving average of $3.74 and a two-hundred day moving average of $3.55. The firm has a market capitalization of $902.27 million, a PE ratio of -30.90 and a beta of 1.27.

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

Institutional Trading of Taboola.com

A number of institutional investors and hedge funds have recently made changes to their positions in TBLA. Meitav Investment House Ltd. lifted its position in shares of Taboola.com by 11.3% during the 3rd quarter. Meitav Investment House Ltd. now owns 69,000 shares of the company’s stock valued at $242,000 after buying an additional 7,000 shares in the last quarter. ARK Investment Management LLC lifted its holdings in Taboola.com by 9.2% during the third quarter. ARK Investment Management LLC now owns 594,590 shares of the company’s stock valued at $1,998,000 after purchasing an additional 50,256 shares in the last quarter. GSA Capital Partners LLP grew its position in shares of Taboola.com by 11.6% in the third quarter. GSA Capital Partners LLP now owns 814,598 shares of the company’s stock valued at $2,737,000 after purchasing an additional 84,382 shares during the period. Aigen Investment Management LP acquired a new stake in shares of Taboola.com in the third quarter valued at about $63,000. Finally, Intellectus Partners LLC increased its stake in shares of Taboola.com by 4.5% during the third quarter. Intellectus Partners LLC now owns 367,668 shares of the company’s stock worth $1,235,000 after purchasing an additional 16,000 shares in 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.