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

Taboola.com (NASDAQ:TBLA)‘s stock had its “buy” rating reissued by stock analysts at Needham & Company LLC in a report issued on Thursday, Benzinga reports. They presently have a $6.00 price target on the stock. Needham & Company LLC’s price target points to a potential upside of 34.23% from the company’s previous close.

A number of other research firms also recently commented on TBLA. Oppenheimer lifted their price target on Taboola.com from $5.50 to $6.00 and gave the stock an “outperform” rating in a research note on Thursday, February 29th. B. Riley raised their target price on shares of Taboola.com from $5.00 to $6.00 and gave the stock a “buy” rating in a report on Thursday, December 21st. Benchmark reissued a “buy” rating and set a $6.00 target price on shares of Taboola.com in a report on Tuesday, December 19th. Finally, TheStreet raised Taboola.com from a “d+” rating to a “c-” rating in a report on Friday, January 19th. Five equities research analysts have rated the stock with a buy rating, Based on data from MarketBeat, Taboola.com currently has a consensus rating of “Buy” and an average price target of $5.94.

Taboola.com Stock Performance

Shares of TBLA traded up $0.07 during midday trading on Thursday, reaching $4.47. 1,200,369 shares of the stock were exchanged, compared to its average volume of 1,532,394. Taboola.com has a twelve month low of $2.16 and a twelve month high of $5.00. The business’s 50-day moving average price is $4.52 and its 200 day moving average price is $4.08. The company has a market capitalization of $1.32 billion, a price-to-earnings ratio of -18.71 and a beta of 1.37. The company has a debt-to-equity ratio of 0.13, a current ratio of 1.32 and a quick ratio of 1.32.

Taboola.com (NASDAQ:TBLA) last issued its quarterly earnings results on Wednesday, February 28th. The company reported $0.01 earnings per share for the quarter, topping analysts’ consensus estimates of ($0.04) by $0.05. The company had revenue of $419.80 million for the quarter, compared to analyst estimates of $436.96 million. Taboola.com had a negative return on equity of 1.85% and a negative net margin of 5.70%. The business’s revenue for the quarter was up 13.1% compared to the same quarter last year. During the same quarter in the prior year, the company posted $0.11 EPS. On average, sell-side analysts expect that Taboola.com will post 0.13 EPS for the current fiscal year.

Insiders Place Their Bets

In other Taboola.com news, CTO Lior Golan sold 10,187 shares of Taboola.com stock in a transaction that occurred on Monday, February 12th. The shares were sold at an average price of $4.86, for a total transaction of $49,508.82. Following the transaction, the chief technology officer now directly owns 2,545,291 shares in the company, valued at approximately $12,370,114.26. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. In other news, COO Eldad Maniv sold 142,749 shares of the business’s stock in a transaction on Wednesday, January 10th. The shares were sold at an average price of $4.38, for a total transaction of $625,240.62. Following the transaction, the chief operating officer now directly owns 9,399,280 shares in the company, valued at approximately $41,168,846.40. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Also, CTO Lior Golan sold 10,187 shares of the business’s stock in a transaction on Monday, February 12th. The shares were sold at an average price of $4.86, for a total transaction of $49,508.82. Following the transaction, the chief technology officer now owns 2,545,291 shares in the company, valued at $12,370,114.26. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 480,946 shares of company stock worth $2,055,413. 23.49% of the stock is owned by insiders.

Hedge Funds Weigh In On Taboola.com

Institutional investors and hedge funds have recently modified their holdings of the stock. Deutsche Bank AG acquired a new stake in shares of Taboola.com in the 1st quarter valued at $25,000. WINTON GROUP Ltd bought a new position in shares of Taboola.com during the 2nd quarter worth about $34,000. Acadian Asset Management LLC bought a new position in shares of Taboola.com during the 1st quarter worth about $36,000. Vanguard Personalized Indexing Management LLC bought a new position in shares of Taboola.com during the 2nd quarter worth about $44,000. Finally, Symmetry Peak Management LLC bought a new position in shares of Taboola.com during the 4th quarter worth about $46,000. 42.89% of the stock is currently owned by hedge funds and other institutional investors.

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.