Needham & Company LLC Reiterates “Buy” Rating for Taboola.com (NASDAQ:TBLA)

Needham & Company LLC reiterated their buy rating on shares of Taboola.com (NASDAQ:TBLA) in a report issued on Thursday morning,Benzinga reports. They currently have a $4.00 price objective on the stock.

Several other equities analysts have also recently weighed in on TBLA. Citizens Jmp cut Taboola.com from an “outperform” rating to a “market perform” rating in a research note on Thursday, February 27th. B. Riley lowered shares of Taboola.com from a “buy” rating to a “neutral” rating and decreased their price objective for the company from $5.00 to $4.00 in a research note on Thursday, February 27th. JMP Securities lowered their target price on 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. Oppenheimer reaffirmed a “market perform” rating on shares of Taboola.com in a report on Wednesday, February 26th. Finally, Benchmark reissued a “buy” rating and set a $5.00 price objective on shares of Taboola.com in a report on Tuesday, February 25th. Three equities research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $4.38.

Taboola.com Stock Down 2.3 %

TBLA stock opened at $2.96 on Thursday. 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 quick ratio of 1.31, a current ratio of 1.31 and a debt-to-equity ratio of 0.14. Taboola.com has a twelve month low of $2.69 and a twelve month high of $4.60. The stock’s 50 day moving average is $3.39 and its 200-day moving average is $3.49.

Taboola.com announced that its board has initiated a stock repurchase plan on Wednesday, February 26th that allows the company to repurchase $200.00 million in outstanding shares. This repurchase authorization allows the company to buy up to 22.2% of its shares through open market purchases. Shares repurchase plans are typically an indication that the company’s leadership believes its stock is undervalued.

Insider Activity at Taboola.com

In related news, CEO Adam Singolda bought 60,229 shares of Taboola.com stock in a transaction on Friday, February 28th. The stock was acquired at an average price of $2.72 per share, with a total value of $163,822.88. Following the acquisition, 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 ownership of the stock. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Zvi Limon bought 168,506 shares of the stock in a transaction on Thursday, February 27th. The stock was purchased 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. This represents 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.

Institutional Investors Weigh In On Taboola.com

Large investors have recently added to or reduced their stakes in the business. Wolverine Trading LLC raised its holdings in shares of Taboola.com by 98.4% in the 4th 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 in the last quarter. R Squared Ltd purchased a new position in shares of Taboola.com during the fourth quarter worth about $68,000. Virtu Financial LLC bought a new position in shares of Taboola.com in the fourth quarter worth approximately $81,000. Aquatic Capital Management LLC purchased a new stake in Taboola.com in the fourth quarter valued at approximately $103,000. Finally, KLP Kapitalforvaltning AS bought a new stake in Taboola.com during the fourth quarter valued at approximately $109,000. 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.