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

Needham & Company LLC reaffirmed their buy rating on shares of Taboola.com (NASDAQ:TBLA) in a report issued on Tuesday morning, Benzinga reports. They currently have a $5.00 price objective on the stock.

Separately, Benchmark reiterated a buy rating and set a $6.00 price target on shares of Taboola.com in a report on Tuesday, August 6th. Four research analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, Taboola.com currently has a consensus rating of Buy and an average price target of $5.56.

Taboola.com Trading Up 0.3 %

NASDAQ:TBLA opened at $3.28 on Tuesday. Taboola.com has a 12-month low of $2.87 and a 12-month high of $5.00. The firm has a market cap of $953.61 million, a PE ratio of -14.26 and a beta of 1.29. The company has a current ratio of 1.31, a quick ratio of 1.31 and a debt-to-equity ratio of 0.14. The stock has a fifty day moving average price of $3.28 and a 200 day moving average price of $3.73.

Taboola.com (NASDAQ:TBLA) last posted its quarterly earnings results on Wednesday, August 7th. The company reported ($0.01) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.05) by $0.04. Taboola.com had a negative return on equity of 1.57% and a negative net margin of 3.07%. The company had revenue of $428.00 million for the quarter, compared to analyst estimates of $428.67 million. During the same quarter last year, the company earned ($0.05) EPS. Taboola.com’s revenue for the quarter was up 28.9% compared to the same quarter last year. Sell-side analysts anticipate that Taboola.com will post 0.03 earnings per share for the current fiscal year.

Insider Transactions at Taboola.com

In other news, Director Lynda M. Clarizio sold 29,606 shares of the stock in a transaction dated Thursday, August 29th. The stock was sold at an average price of $3.61, for a total value of $106,877.66. Following the transaction, the director now owns 176,158 shares in the company, valued at approximately $635,930.38. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Insiders own 22.40% of the company’s stock.

Hedge Funds Weigh In On Taboola.com

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the business. Hennion & Walsh Asset Management Inc. boosted its stake in Taboola.com by 8.0% in the first quarter. Hennion & Walsh Asset Management Inc. now owns 60,701 shares of the company’s stock valued at $270,000 after acquiring an additional 4,478 shares in the last quarter. Van ECK Associates Corp boosted its position in shares of Taboola.com by 8.5% in the 2nd quarter. Van ECK Associates Corp now owns 71,035 shares of the company’s stock valued at $244,000 after purchasing an additional 5,535 shares during the period. Counterpoint Mutual Funds LLC boosted its position in shares of Taboola.com by 35.6% in the 1st quarter. Counterpoint Mutual Funds LLC now owns 30,798 shares of the company’s stock valued at $137,000 after purchasing an additional 8,079 shares during the period. Arizona State Retirement System grew its stake in Taboola.com by 22.2% during the 2nd quarter. Arizona State Retirement System now owns 45,493 shares of the company’s stock worth $156,000 after buying an additional 8,262 shares during the last quarter. Finally, Zurcher Kantonalbank Zurich Cantonalbank increased its position in Taboola.com by 40.2% during the second quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 44,877 shares of the company’s stock worth $154,000 after buying an additional 12,869 shares during the period. 42.89% of the stock is owned by institutional investors and hedge funds.

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.