B. Riley Issues Positive Forecast for Taboola.com (NASDAQ:TBLA) Stock Price

Key Points

• B. Riley raised its price target for Taboola.com (NASDAQ:TBLA) from $4.00 to $4.50, indicating a potential upside of 30.25% from the stock's previous close.
• Several analysts have issued positive ratings for TBLA, with an average price target of $4.50 and a consensus rating of "Moderate Buy".
• Insider selling occurred as COO Eldad Maniv sold 20,083 shares at an average price of $3.75, reducing his ownership stake slightly.

Taboola.com (NASDAQ:TBLA - Get Free Report) had its price target hoisted by B. Riley from $4.00 to $4.50 in a research report issued to clients and investors on Thursday,Benzinga reports. The brokerage currently has a "buy" rating on the stock. B. Riley's price target would suggest a potential upside of 30.25% from the stock's previous close.

A number of other equities research analysts have also recently issued reports on TBLA. Needham & Company LLC increased their target price on shares of Taboola.com from $3.34 to $4.50 and gave the stock a "buy" rating in a research report on Tuesday, June 17th. Benchmark lowered their target price on shares of Taboola.com from $4.50 to $4.00 and set a "buy" rating on the stock in a report on Thursday, May 8th. Two equities research analysts have rated the stock with a hold rating and four have issued a buy rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and an average price target of $4.50.

Taboola.com Stock Performance

Shares of NASDAQ TBLA traded up $0.08 during midday trading on Thursday, hitting $3.46. The company's stock had a trading volume of 999,697 shares, compared to its average volume of 1,701,105. The firm's fifty day moving average price is $3.54 and its 200-day moving average price is $3.34. The firm has a market cap of $1.11 billion, a P/E ratio of 86.40 and a beta of 1.27. Taboola.com has a 1-year low of $2.50 and a 1-year high of $4.30. The company has a debt-to-equity ratio of 0.13, a quick ratio of 1.32 and a current ratio of 1.32.

Insider Buying and Selling at Taboola.com

In other news, COO Eldad Maniv sold 20,083 shares of the stock in a transaction dated Tuesday, June 17th. The stock was sold at an average price of $3.75, for a total value of $75,311.25. Following the transaction, the chief operating officer directly owned 10,872,377 shares of the company's stock, valued at approximately $40,771,413.75. This represents a 0.18% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. 24.70% of the stock is owned by company insiders.

Institutional Investors Weigh In On Taboola.com

Several institutional investors and hedge funds have recently modified their holdings of TBLA. Bridgeway Capital Management LLC raised its stake in shares of Taboola.com by 1,257.3% during the 4th quarter. Bridgeway Capital Management LLC now owns 1,362,422 shares of the company's stock worth $4,973,000 after buying an additional 1,262,042 shares in the last quarter. Wellington Management Group LLP raised its holdings in shares of Taboola.com by 6.1% during the fourth quarter. Wellington Management Group LLP now owns 19,205,915 shares of the company's stock valued at $70,102,000 after buying an additional 1,109,602 shares during the last quarter. Millennium Management LLC raised its holdings in Taboola.com by 42.9% during the fourth quarter. Millennium Management LLC now owns 2,217,442 shares of the company's stock worth $8,094,000 after purchasing an additional 665,944 shares in the last quarter. Renaissance Technologies LLC grew its holdings in shares of Taboola.com by 40.2% during the 4th 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, GSA Capital Partners LLP lifted its stake in shares of Taboola.com by 63.6% in the 1st quarter. GSA Capital Partners LLP now owns 997,057 shares of the company's stock valued at $2,941,000 after purchasing an additional 387,777 shares during the last quarter. 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.

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