Taboola.com (NASDAQ:TBLA) Earns “Buy” Rating from Needham & Company LLC

Needham & Company LLC reiterated their buy rating on shares of Taboola.com (NASDAQ:TBLA) in a research report report published on Wednesday, Benzinga reports. The firm currently has a $5.00 target price on the stock.

Separately, Benchmark reissued a “buy” rating and set a $5.00 price objective on shares of Taboola.com in a research note on Monday, October 7th. Four investment analysts have rated the stock with a buy rating, Based on data from MarketBeat, the stock presently has an average rating of “Buy” and an average price target of $5.31.

Taboola.com Stock Performance

NASDAQ TBLA opened at $3.66 on Wednesday. The company has a quick ratio of 1.31, a current ratio of 1.31 and a debt-to-equity ratio of 0.14. Taboola.com has a fifty-two week low of $2.87 and a fifty-two week high of $5.00. The business has a fifty day moving average of $3.31 and a 200-day moving average of $3.63. The stock has a market cap of $1.06 billion, a price-to-earnings ratio of -15.91 and a beta of 1.29.

Taboola.com (NASDAQ:TBLA) last posted its quarterly earnings data on Wednesday, August 7th. The company reported ($0.01) EPS for the quarter, topping analysts’ consensus estimates of ($0.05) by $0.04. The firm had revenue of $428.00 million during the quarter, compared to analysts’ expectations of $428.67 million. Taboola.com had a negative return on equity of 1.57% and a negative net margin of 3.07%. The firm’s quarterly revenue was up 28.9% compared to the same quarter last year. During the same quarter last year, the business posted ($0.05) EPS. As a group, analysts predict that Taboola.com will post 0.03 earnings per share for the current fiscal year.

Insider Buying and Selling

In other Taboola.com news, Director Lynda M. Clarizio sold 29,606 shares of Taboola.com stock in a transaction on Thursday, August 29th. The shares were sold at an average price of $3.61, for a total value 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 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. 22.40% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Taboola.com

Hedge funds and other institutional investors have recently modified their holdings of the company. Wellington Management Group LLP increased its position in Taboola.com by 22.2% during 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 in the last quarter. Acadian Asset Management LLC increased its position in shares of Taboola.com by 181.2% in the second quarter. Acadian Asset Management LLC now owns 1,888,614 shares of the company’s stock worth $6,489,000 after acquiring an additional 1,216,902 shares in the last quarter. Millennium Management LLC raised its stake in shares of Taboola.com by 32.3% in the 2nd quarter. Millennium Management LLC now owns 1,339,987 shares of the company’s stock valued at $4,610,000 after acquiring an additional 327,518 shares during the period. Yarra Square Partners LP lifted its holdings in shares of Taboola.com by 6.1% during the 2nd quarter. Yarra Square Partners LP now owns 1,113,858 shares of the company’s stock valued at $3,832,000 after acquiring an additional 64,373 shares in the last quarter. Finally, Levin Capital Strategies L.P. boosted its position in Taboola.com by 238.1% during the 1st quarter. Levin Capital Strategies L.P. now owns 884,104 shares of the company’s stock worth $3,925,000 after purchasing an additional 622,614 shares during the period. 42.89% of the stock is owned by institutional investors and hedge funds.

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.