Taboola.com (NASDAQ:TBLA) Shares Gap Down on Disappointing Earnings

Taboola.com Ltd. (NASDAQ:TBLA) shares gapped down before the market opened on Wednesday following a dissappointing earnings announcement. The stock had previously closed at $3.70, but opened at $3.45. Taboola.com shares last traded at $3.08, with a volume of 1,689,273 shares.

The company reported $0.10 earnings per share for the quarter, missing the consensus estimate of $0.11 by ($0.01). Taboola.com had a negative net margin of 1.96% and a negative return on equity of 1.68%.

Wall Street Analysts Forecast Growth

A number of equities analysts recently commented on TBLA shares. JMP Securities reduced their price target on Taboola.com from $6.00 to $5.00 and set a “market outperform” rating for the company in a report on Monday, January 27th. Benchmark reiterated a “buy” rating and set a $5.00 target price on shares of Taboola.com in a research note on Tuesday. Finally, Needham & Company LLC restated a “buy” rating and issued a $5.00 price target on shares of Taboola.com in a research note on Friday, January 17th. Five analysts have rated the stock with a buy rating, According to MarketBeat, the stock has a consensus rating of “Buy” and a consensus target price of $5.25.

Hedge Funds Weigh In On Taboola.com

Several institutional investors and hedge funds have recently made changes to their positions in the company. Wellington Management Group LLP lifted its holdings in Taboola.com by 6.1% during the 4th quarter. Wellington Management Group LLP now owns 19,205,915 shares of the company’s stock worth $70,102,000 after purchasing an additional 1,109,602 shares during the last quarter. Phoenix Financial Ltd. boosted its position in shares of Taboola.com by 1.4% in the fourth quarter. Phoenix Financial Ltd. now owns 7,397,680 shares of the company’s stock valued at $27,002,000 after acquiring an additional 98,800 shares during the period. Millennium Management LLC boosted its position in shares of Taboola.com by 42.9% in the fourth quarter. Millennium Management LLC now owns 2,217,442 shares of the company’s stock valued at $8,094,000 after acquiring an additional 665,944 shares during the period. Renaissance Technologies LLC grew its stake in shares of Taboola.com by 40.2% in the fourth quarter. Renaissance Technologies LLC now owns 1,546,300 shares of the company’s stock valued at $5,644,000 after acquiring an additional 443,700 shares in the last quarter. Finally, Connor Clark & Lunn Investment Management Ltd. increased its position in Taboola.com by 4.5% during the fourth quarter. Connor Clark & Lunn Investment Management Ltd. now owns 1,480,668 shares of the company’s stock worth $5,404,000 after acquiring an additional 63,324 shares during the period. Institutional investors and hedge funds own 42.89% of the company’s stock.

Taboola.com Stock Down 16.4 %

The stock’s fifty day simple moving average is $3.75 and its 200-day simple moving average is $3.55. The stock has a market cap of $903.73 million, a P/E ratio of -30.95 and a beta of 1.27. The company has a debt-to-equity ratio of 0.14, a quick ratio of 1.31 and a current ratio of 1.31.

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.