Taboola.com (NASDAQ:TBLA) Shares Up 4.1% - Time to Buy?

Taboola.com Ltd. (NASDAQ:TBLA - Get Free Report) was up 4.1% on Wednesday . The stock traded as high as $3.66 and last traded at $3.65. Approximately 1,362,905 shares traded hands during mid-day trading, an increase of 4% from the average daily volume of 1,308,558 shares. The stock had previously closed at $3.50.

Analysts Set New Price Targets

Several equities analysts have recently issued reports on the company. Citizens Jmp cut Taboola.com from an "outperform" rating to a "market perform" rating in a research note on Thursday, February 27th. B. Riley raised shares of Taboola.com from a "neutral" rating to a "buy" rating and set a $4.00 target price for the company in a research report on Thursday, May 8th. Benchmark cut 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 note on Thursday, May 8th. Needham & Company LLC restated a "buy" rating and issued a $4.00 price objective on shares of Taboola.com in a report on Thursday, March 27th. Finally, Oppenheimer reiterated a "market perform" rating on shares of Taboola.com in a report on Wednesday, February 26th. Two investment analysts have rated the stock with a hold rating and four have assigned a buy rating to the company's stock. According to data from MarketBeat, the company has an average rating of "Moderate Buy" and a consensus target price of $4.25.

Taboola.com Price Performance

The firm has a fifty day moving average price of $3.07 and a two-hundred day moving average price of $3.39. 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 has a market capitalization of $1.17 billion, a P/E ratio of -36.40 and a beta of 1.21.

Taboola.com declared that its Board of Directors has authorized a share repurchase program on Wednesday, February 26th that permits the company to repurchase $200.00 million in shares. This repurchase authorization permits the company to repurchase up to 22.2% of its stock through open market purchases. Stock repurchase programs are often an indication that the company's leadership believes its shares are undervalued.

Institutional Trading of Taboola.com

A number of institutional investors and hedge funds have recently modified their holdings of the business. CWM LLC boosted its position in shares of Taboola.com by 65.8% during the first quarter. CWM LLC now owns 11,348 shares of the company's stock valued at $33,000 after buying an additional 4,502 shares during the last quarter. Wolverine Trading LLC grew its stake in shares of Taboola.com by 98.4% in 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. Baird Financial Group Inc. purchased a new position in shares of Taboola.com during the first quarter valued at approximately $59,000. Virtu Financial LLC bought a new position in Taboola.com during the fourth quarter valued at approximately $81,000. Finally, Aquatic Capital Management LLC bought a new stake in Taboola.com in the 4th quarter worth approximately $103,000. Institutional investors own 42.89% of the company's stock.

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.