Taboola.com (NASDAQ:TBLA) Shares Up 5.5% Following Analyst Upgrade

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.

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

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.