Needham & Company LLC Forecasts Strong Price Appreciation for Taboola.com (NASDAQ:TBLA) Stock

Taboola.com (NASDAQ:TBLA - Free Report) had its price target boosted by Needham & Company LLC from $3.34 to $4.50 in a research report sent to investors on Tuesday morning,Benzinga reports. They currently have a buy rating on the stock.

Several other brokerages have also weighed in on TBLA. Benchmark lowered their target price on shares of Taboola.com from $4.50 to $4.00 and set a "buy" rating for the company in a research note on Thursday, May 8th. Citizens Jmp lowered shares of Taboola.com from an "outperform" rating to a "market perform" rating in a report on Thursday, February 27th. B. Riley raised shares of Taboola.com from a "neutral" rating to a "buy" rating and set a $4.00 price objective for the company in a research report on Thursday, May 8th. Finally, Oppenheimer reissued a "market perform" rating on shares of Taboola.com in a research report on Wednesday, February 26th. Two investment analysts have rated the stock with a hold rating and four have issued a buy rating to the company's stock. According to MarketBeat.com, the company presently has an average rating of "Moderate Buy" and a consensus target price of $4.38.

Taboola.com Trading Down 3.6%

Shares of NASDAQ TBLA traded down $0.13 during mid-day trading on Tuesday, reaching $3.52. 1,525,392 shares of the company's stock were exchanged, compared to its average volume of 1,359,475. The firm has a market capitalization of $1.13 billion, a price-to-earnings ratio of 88.02 and a beta of 1.29. The company has a debt-to-equity ratio of 0.13, a quick ratio of 1.32 and a current ratio of 1.32. Taboola.com has a 52-week low of $2.50 and a 52-week high of $4.30. The company's 50-day moving average is $3.29 and its 200-day moving average is $3.41.

Taboola.com announced that its Board of Directors has initiated a share buyback program on Wednesday, February 26th that allows the company to buyback $200.00 million in outstanding shares. This buyback authorization allows the company to repurchase up to 22.2% of its stock through open market purchases. Stock buyback programs are usually a sign that the company's board of directors believes its shares are undervalued.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently made changes to their positions in the business. CWM LLC increased its stake in Taboola.com by 65.8% during the 1st quarter. CWM LLC now owns 11,348 shares of the company's stock worth $33,000 after buying an additional 4,502 shares during the period. Wealth Enhancement Advisory Services LLC boosted its position in Taboola.com by 16.4% in the 1st quarter. Wealth Enhancement Advisory Services LLC now owns 41,300 shares of the company's stock valued at $122,000 after buying an additional 5,829 shares during the period. Meitav Investment House Ltd. grew its stake in shares of Taboola.com by 9.4% in the fourth quarter. Meitav Investment House Ltd. now owns 75,500 shares of the company's stock worth $279,000 after acquiring an additional 6,500 shares in the last quarter. Wolverine Trading LLC increased its position in shares of Taboola.com by 98.4% during the fourth quarter. Wolverine Trading LLC now owns 17,063 shares of the company's stock worth $63,000 after acquiring an additional 8,463 shares during the period. Finally, Voya Investment Management LLC increased its position in shares of Taboola.com by 18.8% during the fourth quarter. Voya Investment Management LLC now owns 103,054 shares of the company's stock worth $376,000 after acquiring an additional 16,333 shares during the period. 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.