Taboola.com (NASDAQ:TBLA) Shares Gap Up – What’s Next?

Shares of Taboola.com Ltd. (NASDAQ:TBLA) gapped up before the market opened on Thursday . The stock had previously closed at $3.30, but opened at $3.50. Taboola.com shares last traded at $3.59, with a volume of 245,680 shares traded.

Wall Street Analyst Weigh In

TBLA has been the topic of a number of recent research reports. Needham & Company LLC reissued a “buy” rating and issued a $5.00 target price on shares of Taboola.com in a report on Friday, November 8th. Benchmark reissued a “buy” rating and issued a $5.00 target price on shares of Taboola.com in a report on Monday, October 7th. Four equities research analysts have rated the stock with a buy rating, According to MarketBeat, Taboola.com has an average rating of “Buy” and a consensus price target of $5.31.

Taboola.com Stock Performance

The stock has a fifty day moving average price of $3.35 and a two-hundred day moving average price of $3.49. The company has a market cap of $1.07 billion, a P/E ratio of -35.90 and a beta of 1.28. The company has a debt-to-equity ratio of 0.14, a current ratio of 1.31 and a quick ratio of 1.31.

Taboola.com (NASDAQ:TBLA) last released its quarterly earnings results on Thursday, November 7th. The company reported ($0.02) earnings per share for the quarter, missing analysts’ consensus estimates of $0.02 by ($0.04). The business had revenue of $433.10 million for the quarter, compared to the consensus estimate of $429.43 million. Taboola.com had a negative net margin of 1.96% and a negative return on equity of 1.68%. During the same period last year, the firm posted ($0.02) EPS.

Insider Activity

In related news, Director Lynda M. Clarizio sold 29,606 shares of the firm’s stock in a transaction that occurred on Thursday, August 29th. The shares were sold at an average price of $3.61, for a total transaction of $106,877.66. Following the transaction, the director now owns 176,158 shares in the company, valued at $635,930.38. This trade represents a 14.39 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Corporate insiders own 22.40% of the company’s stock.

Institutional Inflows and Outflows

A number of hedge funds have recently made changes to their positions in TBLA. Acadian Asset Management LLC boosted its stake in Taboola.com by 181.2% in the 2nd quarter. Acadian Asset Management LLC now owns 1,888,614 shares of the company’s stock worth $6,489,000 after purchasing an additional 1,216,902 shares during the period. Levin Capital Strategies L.P. boosted its position in Taboola.com by 238.1% in the first quarter. Levin Capital Strategies L.P. now owns 884,104 shares of the company’s stock valued at $3,925,000 after buying an additional 622,614 shares in the last quarter. Tredje AP fonden acquired a new position in Taboola.com in the second quarter valued at about $1,376,000. Millennium Management LLC lifted its position in shares of Taboola.com by 32.3% during the second quarter. Millennium Management LLC now owns 1,339,987 shares of the company’s stock worth $4,610,000 after purchasing an additional 327,518 shares in the last quarter. Finally, Algert Global LLC bought a new stake in shares of Taboola.com during the second quarter worth approximately $1,020,000. Institutional investors and hedge funds 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.