Taboola.com Ltd. (NASDAQ:TBLA - Get Free Report) shares were up 5.5% during mid-day trading on Tuesday after Needham & Company LLC raised their price target on the stock from $3.34 to $4.50. Needham & Company LLC currently has a buy rating on the stock. Taboola.com traded as high as $3.77 and last traded at $3.76. Approximately 1,099,941 shares traded hands during mid-day trading, a decline of 40% from the average daily volume of 1,820,140 shares. The stock had previously closed at $3.56.
Several other equities research analysts also recently issued reports on TBLA. Benchmark lowered their price objective on shares of Taboola.com from $4.50 to $4.00 and set a "buy" rating for the company in a research report on Thursday, May 8th. Citizens Jmp lowered shares of Taboola.com from an "outperform" rating to a "market perform" rating in a research note on Thursday, February 27th. B. Riley raised Taboola.com from a "neutral" rating to a "buy" rating and set a $4.00 price target on the stock in a research note on Thursday, May 8th. Finally, Oppenheimer reaffirmed a "market perform" rating on shares of Taboola.com in a research report on Wednesday, February 26th. Two analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. According to MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and an average target price of $4.38.
Read Our Latest Research Report on TBLA
Institutional Trading of Taboola.com
A number of hedge funds and other institutional investors have recently made changes to their positions in TBLA. Bridgeway Capital Management LLC grew its position in Taboola.com by 1,257.3% in the fourth quarter. Bridgeway Capital Management LLC now owns 1,362,422 shares of the company's stock valued at $4,973,000 after purchasing an additional 1,262,042 shares in the last quarter. Wellington Management Group LLP boosted its stake in shares of Taboola.com by 6.1% during the 4th quarter. Wellington Management Group LLP now owns 19,205,915 shares of the company's stock worth $70,102,000 after buying an additional 1,109,602 shares during the last quarter. Millennium Management LLC boosted its stake in shares of Taboola.com by 42.9% during the 4th quarter. Millennium Management LLC now owns 2,217,442 shares of the company's stock worth $8,094,000 after buying an additional 665,944 shares during the last quarter. Yelin Lapidot Holdings Management Ltd. bought a new position in shares of Taboola.com in the 4th quarter valued at about $1,724,000. Finally, Renaissance Technologies LLC increased its position in shares of Taboola.com by 40.2% in the fourth 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 during the last quarter. 42.89% of the stock is currently owned by institutional investors and hedge funds.
Taboola.com Trading Down 3.6%
The firm has a market cap 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 current ratio of 1.32 and a quick ratio of 1.32. The business has a 50-day moving average of $3.29 and a 200-day moving average of $3.41.
Taboola.com announced that its board has approved a stock repurchase plan on Wednesday, February 26th that authorizes the company to repurchase $200.00 million in shares. This repurchase authorization authorizes the company to reacquire up to 22.2% of its shares through open market purchases. Shares repurchase plans are generally an indication that the company's management believes its stock is undervalued.
Taboola.com Company Profile
(
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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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