Taboola.com (NASDAQ:TBLA) Rating Reiterated by Needham & Company LLC

Taboola.com (NASDAQ:TBLA)‘s stock had its “buy” rating restated by equities research analysts at Needham & Company LLC in a note issued to investors on Wednesday, Benzinga reports. They presently have a $6.00 target price on the stock. Needham & Company LLC’s price target would suggest a potential upside of 36.05% from the company’s current price.

Several other analysts have also recently issued reports on TBLA. Benchmark reiterated a “buy” rating and issued a $6.00 target price on shares of Taboola.com in a research note on Monday. TheStreet upgraded Taboola.com from a “d+” rating to a “c-” rating in a report on Friday, January 19th. B. Riley reissued a “buy” rating and set a $5.25 price objective on shares of Taboola.com in a report on Wednesday, April 24th. Finally, Oppenheimer upped their target price on Taboola.com from $5.50 to $6.00 and gave the stock an “outperform” rating in a research note on Thursday, February 29th. Five research analysts have rated the stock with a buy rating, According to MarketBeat, the stock presently has an average rating of “Buy” and an average price target of $5.79.

Taboola.com Stock Performance

TBLA stock traded down $0.12 during mid-day trading on Wednesday, hitting $4.41. The company had a trading volume of 2,308,287 shares, compared to its average volume of 1,338,799. The company has a debt-to-equity ratio of 0.13, a quick ratio of 1.32 and a current ratio of 1.32. The firm has a market cap of $1.30 billion, a PE ratio of -18.42 and a beta of 1.35. Taboola.com has a 12 month low of $2.27 and a 12 month high of $5.00. The stock’s fifty day moving average price is $4.29 and its two-hundred day moving average price is $4.18.

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

Insider Activity

In other Taboola.com news, CTO Lior Golan sold 10,187 shares of the business’s stock in a transaction on Monday, February 12th. The stock was sold at an average price of $4.86, for a total value of $49,508.82. Following the sale, the chief technology officer now directly owns 2,545,291 shares of the company’s stock, valued at $12,370,114.26. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Company insiders own 22.40% of the company’s stock.

Institutional Inflows and Outflows

Hedge funds have recently made changes to their positions in the stock. Wellington Management Group LLP grew its position in Taboola.com by 22.2% in the 4th quarter. Wellington Management Group LLP now owns 15,767,681 shares of the company’s stock worth $68,274,000 after purchasing an additional 2,859,451 shares during the period. Migdal Insurance & Financial Holdings Ltd. boosted its position in Taboola.com by 20.9% in the fourth quarter. Migdal Insurance & Financial Holdings Ltd. now owns 4,043,235 shares of the company’s stock worth $17,507,000 after purchasing an additional 700,000 shares during the last quarter. GSA Capital Partners LLP grew its stake in shares of Taboola.com by 292.4% during the 4th quarter. GSA Capital Partners LLP now owns 657,758 shares of the company’s stock valued at $2,848,000 after purchasing an additional 490,149 shares during the period. Connor Clark & Lunn Investment Management Ltd. increased its position in shares of Taboola.com by 655.8% during the 3rd quarter. Connor Clark & Lunn Investment Management Ltd. now owns 419,111 shares of the company’s stock valued at $1,588,000 after purchasing an additional 363,662 shares during the last quarter. Finally, Y.D. More Investments Ltd bought a new position in shares of Taboola.com in the 3rd quarter worth approximately $1,140,000. 42.89% of the stock is 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.