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

Taboola.com Ltd. (NASDAQ:TBLA - Get Free Report) traded up 5.5% 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. 1,099,941 shares traded hands during mid-day trading, a decline of 40% from the average session volume of 1,820,140 shares. The stock had previously closed at $3.56.

Other research analysts have also issued research reports about the stock. B. Riley upgraded shares of 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. 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 research report on Thursday, May 8th. Citizens Jmp downgraded Taboola.com from an "outperform" rating to a "market perform" rating in a research note on Thursday, February 27th. Finally, Oppenheimer reissued a "market perform" rating on shares of Taboola.com in a report on Wednesday, February 26th. Two analysts have rated the stock with a hold rating and four have given a buy rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and an average price target of $4.38.

Hedge Funds Weigh In On Taboola.com

A number of institutional investors have recently made changes to their positions in TBLA. Meitav Investment House Ltd. lifted its holdings in shares of Taboola.com by 9.4% during the fourth quarter. Meitav Investment House Ltd. now owns 75,500 shares of the company's stock worth $279,000 after buying an additional 6,500 shares during the last quarter. Yelin Lapidot Holdings Management Ltd. acquired a new position in Taboola.com during the 4th quarter valued at $1,724,000. Connor Clark & Lunn Investment Management Ltd. boosted its holdings in Taboola.com by 4.5% in the 4th quarter. Connor Clark & Lunn Investment Management Ltd. now owns 1,480,668 shares of the company's stock valued at $5,404,000 after purchasing an additional 63,324 shares during the period. Globeflex Capital L P acquired a new stake in Taboola.com in the 4th quarter worth $778,000. Finally, Teacher Retirement System of Texas increased its holdings in shares of Taboola.com by 263.2% during the 4th quarter. Teacher Retirement System of Texas now owns 130,494 shares of the company's stock worth $476,000 after purchasing an additional 94,565 shares during the period. 42.89% of the stock is currently owned by institutional investors.

Taboola.com Price Performance

The company has a quick ratio of 1.31, a current ratio of 1.31 and a debt-to-equity ratio of 0.14. The stock's 50-day moving average price is $3.23 and its 200 day moving average price is $3.41. The firm has a market cap of $1.20 billion, a price-to-earnings ratio of -37.55 and a beta of 1.29.

Taboola.com declared that its Board of Directors has approved a share repurchase plan on Wednesday, February 26th that permits the company to repurchase $200.00 million in shares. This repurchase authorization permits the company to purchase up to 22.2% of its stock through open market purchases. Stock repurchase plans are usually a sign 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.

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