Taboola.com (NASDAQ:TBLA) Sees Large Volume Increase – Should You Buy?

Shares of Taboola.com Ltd. (NASDAQ:TBLA) saw unusually-high trading volume on Tuesday . Approximately 1,722,346 shares traded hands during trading, an increase of 55% from the previous session’s volume of 1,109,821 shares.The stock last traded at $3.00 and had previously closed at $2.96.

Wall Street Analysts Forecast Growth

A number of brokerages have issued reports on TBLA. Oppenheimer reaffirmed a “market perform” rating on shares of Taboola.com in a report on Wednesday, February 26th. Needham & Company LLC cut their price target on shares of Taboola.com from $5.00 to $4.00 and set a “buy” rating on the stock in a report on Thursday, February 27th. Citizens Jmp cut shares of Taboola.com from an “outperform” rating to a “market perform” rating in a report on Thursday, February 27th. JMP Securities dropped their price target on Taboola.com from $6.00 to $5.00 and set a “market outperform” rating on the stock in a research report on Monday, January 27th. Finally, Benchmark restated a “buy” rating and set a $5.00 price objective on shares of Taboola.com in a research note on Tuesday, February 25th. Three equities research analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $4.50.

Taboola.com Trading Up 0.3 %

The business’s 50 day moving average is $3.48 and its 200 day moving average is $3.50. The stock has a market cap of $866.32 million, a price-to-earnings ratio of -29.40 and a beta of 1.33. The company has a debt-to-equity ratio of 0.14, a current ratio of 1.31 and a quick ratio of 1.31.

Taboola.com declared that its board has initiated a stock repurchase program on Wednesday, February 26th that permits the company to buyback $200.00 million in shares. This buyback authorization permits the company to purchase up to 22.2% of its shares through open market purchases. Shares buyback programs are typically a sign that the company’s leadership believes its stock is undervalued.

Insiders Place Their Bets

In other news, Director Zvi Limon bought 168,506 shares of the stock in a transaction on Thursday, February 27th. The stock was purchased at an average cost of $2.93 per share, with a total value of $493,722.58. Following the purchase, the director now owns 2,987,383 shares of the company’s stock, valued at approximately $8,753,032.19. The trade was a 5.98 % increase in their ownership of the stock. The purchase was disclosed in a filing with the SEC, which is available at this link. Also, CEO Adam Singolda acquired 60,229 shares of the business’s stock in a transaction dated Friday, February 28th. The shares were bought at an average price of $2.72 per share, for a total transaction of $163,822.88. Following the completion of the acquisition, the chief executive officer now owns 14,462,943 shares in the company, valued at approximately $39,339,204.96. This trade represents a 0.42 % increase in their ownership of the stock. The disclosure for this purchase can be found here. Insiders own 22.40% of the company’s stock.

Institutional Investors Weigh In On Taboola.com

Institutional investors and hedge funds have recently modified their holdings of the stock. Wolverine Trading LLC raised its position in shares of Taboola.com by 98.4% in the 4th quarter. Wolverine Trading LLC now owns 17,063 shares of the company’s stock valued at $63,000 after purchasing an additional 8,463 shares in the last quarter. R Squared Ltd acquired a new stake in shares of Taboola.com in the 4th quarter worth about $68,000. Virtu Financial LLC acquired a new stake in Taboola.com in the 4th quarter valued at approximately $81,000. Aquatic Capital Management LLC bought a new stake in shares of Taboola.com during the fourth quarter valued at about $103,000. Finally, KLP Kapitalforvaltning AS bought a new position in shares of Taboola.com in the fourth quarter valued at approximately $109,000. Hedge funds and other institutional investors 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.