Taboola.com’s (TBLA) “Buy” Rating Reiterated at Benchmark

Benchmark reaffirmed their buy rating on shares of Taboola.com (NASDAQ:TBLA) in a report issued on Thursday morning,Benzinga reports. Benchmark currently has a $4.50 price objective on the stock.

A number of other equities research analysts have also issued reports on TBLA. B. Riley lowered 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 report on Thursday, February 27th. Oppenheimer reissued a “market perform” rating on shares of Taboola.com in a report on Wednesday, February 26th. JMP Securities lowered their target price on shares of 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. Citizens Jmp lowered shares of Taboola.com from an “outperform” rating to a “market perform” rating in a report on Thursday, February 27th. Finally, Needham & Company LLC reaffirmed a “buy” rating and set a $4.00 price objective on shares of Taboola.com in a report on Thursday. Three equities research analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $4.38.

Taboola.com Price Performance

Shares of NASDAQ TBLA opened at $2.96 on Thursday. The business’s fifty day moving average price is $3.39 and its two-hundred day moving average price is $3.49. Taboola.com has a 1-year low of $2.69 and a 1-year high of $4.60. 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 debt-to-equity ratio of 0.14, a current ratio of 1.31 and a quick ratio of 1.31.

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

Insider Buying and Selling at Taboola.com

In other news, Director Zvi Limon acquired 168,506 shares of the stock in a transaction dated Thursday, February 27th. The stock was bought at an average price of $2.93 per share, with a total value of $493,722.58. Following the completion of the purchase, the director now directly owns 2,987,383 shares of the company’s stock, valued at $8,753,032.19. This represents a 5.98 % increase in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Adam Singolda purchased 60,229 shares of the business’s stock in a transaction dated Friday, February 28th. The shares were acquired at an average price of $2.72 per share, for a total transaction of $163,822.88. Following 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 disclosure for this purchase can be found here. Insiders own 22.40% of the company’s stock.

Institutional Trading of Taboola.com

Institutional investors have recently added to or reduced their stakes in the stock. Wellington Management Group LLP boosted its position 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 valued at $70,102,000 after acquiring an additional 1,109,602 shares during the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its holdings in shares of Taboola.com by 37.5% during the fourth quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 373,075 shares of the company’s stock valued at $1,362,000 after buying an additional 101,677 shares during the last quarter. Wolverine Trading LLC increased its position in shares of Taboola.com by 98.4% during the fourth quarter. Wolverine Trading LLC now owns 17,063 shares of the company’s stock worth $63,000 after acquiring an additional 8,463 shares in the last quarter. Sphera Management Technology Funds Ltd bought a new position in Taboola.com in the 4th quarter valued at about $730,000. Finally, Squarepoint Ops LLC boosted its stake in Taboola.com by 168.1% during the 4th quarter. Squarepoint Ops LLC now owns 150,793 shares of the company’s stock valued at $550,000 after purchasing an additional 94,555 shares during the last quarter. 42.89% of the stock is currently owned by 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.