Taboola.com (NASDAQ:TBLA) Downgraded to Neutral Rating by B. Riley

B. Riley downgraded shares of Taboola.com (NASDAQ:TBLA) from a buy rating to a neutral rating in a research note published on Thursday morning, Marketbeat Ratings reports. They currently have $4.00 price target on the stock, down from their previous price target of $5.00.

A number of other equities analysts have also commented on TBLA. Benchmark reissued a “buy” rating and issued a $5.00 price objective on shares of Taboola.com in a research note on Tuesday. JMP Securities cut their price target on 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. Oppenheimer reaffirmed a “market perform” rating on shares of Taboola.com in a research note on Wednesday. Finally, Needham & Company LLC reaffirmed a “buy” rating and set a $5.00 price target on shares of Taboola.com in a research note on Friday, January 17th. Three investment analysts have rated the stock with a hold rating and three have given a buy rating to the company’s stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $4.80.

Taboola.com Price Performance

Taboola.com stock opened at $2.82 on Thursday. The company has a debt-to-equity ratio of 0.14, a quick ratio of 1.31 and a current ratio of 1.31. The firm has a market cap of $823.43 million, a P/E ratio of -28.20 and a beta of 1.27. The business’s fifty day moving average is $3.72 and its two-hundred day moving average is $3.54. Taboola.com has a 52 week low of $2.82 and a 52 week high of $4.96.

Taboola.com declared that its board has authorized a stock repurchase plan 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 shares through open market purchases. Shares repurchase plans are usually a sign that the company’s management believes its stock is undervalued.

Hedge Funds Weigh In On Taboola.com

Several hedge funds have recently added to or reduced their stakes in TBLA. JPMorgan Chase & Co. increased its holdings in shares of Taboola.com by 54.7% in the third quarter. JPMorgan Chase & Co. now owns 727,181 shares of the company’s stock worth $2,443,000 after acquiring an additional 257,009 shares in the last quarter. Empowered Funds LLC increased its holdings in shares of Taboola.com by 410.5% in the fourth quarter. Empowered Funds LLC now owns 512,422 shares of the company’s stock worth $1,870,000 after acquiring an additional 412,042 shares in the last quarter. Harbor Capital Advisors Inc. increased its holdings in shares of Taboola.com by 22.6% in the fourth quarter. Harbor Capital Advisors Inc. now owns 33,051 shares of the company’s stock worth $121,000 after acquiring an additional 6,094 shares in the last quarter. Barclays PLC increased its holdings in shares of Taboola.com by 1,218.5% in the third quarter. Barclays PLC now owns 36,431 shares of the company’s stock worth $122,000 after acquiring an additional 33,668 shares in the last quarter. Finally, State Street Corp increased its holdings in shares of Taboola.com by 5.5% in the third quarter. State Street Corp now owns 305,350 shares of the company’s stock worth $1,026,000 after acquiring an additional 16,055 shares in the last quarter. Institutional investors and hedge funds own 42.89% of the company’s stock.

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.