Taboola.com (NASDAQ:TBLA) Trading 4.1% Higher - Still a Buy?

Taboola.com Ltd. (NASDAQ:TBLA - Get Free Report) shares were up 4.1% during trading 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 research analysts recently commented on TBLA shares. Needham & Company LLC reaffirmed a "buy" rating and issued a $4.00 price objective on shares of Taboola.com in a report on Thursday, March 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 report on Thursday, May 8th. Oppenheimer reaffirmed a "market perform" rating on shares of Taboola.com in a report on Wednesday, February 26th. Citizens Jmp downgraded shares of Taboola.com from an "outperform" rating to a "market perform" rating in a report on Thursday, February 27th. Finally, Benchmark cut their price objective on shares of Taboola.com from $4.50 to $4.00 and set a "buy" rating for the company in a report on Thursday, May 8th. Two equities research analysts have rated the stock with a hold rating and four have issued a buy rating to the company. According to MarketBeat, the company presently has an average rating of "Moderate Buy" and a consensus target price of $4.25.

Taboola.com Stock Performance

The firm has a market cap of $1.18 billion, a P/E ratio of -36.80 and a beta of 1.21. The company has a current ratio of 1.31, a quick ratio of 1.31 and a debt-to-equity ratio of 0.14. The business's fifty day simple moving average is $3.07 and its 200-day simple moving average is $3.39.

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

Institutional Investors Weigh In On Taboola.com

Hedge funds have recently bought and sold shares of the business. CWM LLC lifted its stake in shares of Taboola.com by 65.8% in the first quarter. CWM LLC now owns 11,348 shares of the company's stock worth $33,000 after buying an additional 4,502 shares in the last quarter. Wolverine Trading LLC lifted 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 buying an additional 8,463 shares in the last quarter. R Squared Ltd bought a new position in shares of Taboola.com in the fourth quarter worth approximately $68,000. Baird Financial Group Inc. bought a new position in shares of Taboola.com in the first quarter worth approximately $59,000. Finally, Virtu Financial LLC bought a new position in shares of Taboola.com in the fourth quarter worth approximately $81,000. 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.