Taboola.com (NASDAQ:TBLA) Stock Rating Upgraded by B. Riley

B. Riley upgraded shares of Taboola.com (NASDAQ:TBLA - Free Report) from a neutral rating to a buy rating in a report released on Thursday, Marketbeat reports. The brokerage currently has $4.00 price target on the stock.

A number of other equities analysts also recently commented on TBLA. Oppenheimer restated a "market perform" rating on shares of Taboola.com in a research note on Wednesday, February 26th. JMP Securities dropped their target price on shares of Taboola.com from $6.00 to $5.00 and set a "market outperform" rating on the stock in a research note on Monday, January 27th. Citizens Jmp downgraded shares of Taboola.com from an "outperform" rating to a "market perform" rating in a research note on Thursday, February 27th. Benchmark restated a "buy" rating and issued a $4.50 target price on shares of Taboola.com in a research note on Thursday, March 27th. Finally, Needham & Company LLC restated a "buy" rating and issued a $4.00 target price on shares of Taboola.com in a research note on Thursday, March 27th. Two analysts have rated the stock with a hold rating and four have given a buy rating to the company's stock. According to data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and a consensus price target of $4.25.

Taboola.com Trading Up 1.2%

Taboola.com stock traded up $0.04 during midday trading on Thursday, reaching $3.44. The stock had a trading volume of 1,105,689 shares, compared to its average volume of 1,265,086. The company has a quick ratio of 1.31, a current ratio of 1.31 and a debt-to-equity ratio of 0.14. Taboola.com has a 52-week low of $2.50 and a 52-week high of $4.47. The firm has a market cap of $1.11 billion, a price-to-earnings ratio of -34.40 and a beta of 1.21. The company has a fifty day moving average of $2.92 and a 200 day moving average of $3.38.

Taboola.com declared that its board has initiated a share buyback plan on Wednesday, February 26th that allows the company to buyback $200.00 million in outstanding shares. This buyback authorization allows the company to purchase up to 22.2% of its stock through open market purchases. Stock buyback plans are typically an indication that the company's board believes its shares are undervalued.

Insider Activity

In other news, CEO Adam Singolda bought 60,229 shares of the stock in a transaction on Friday, February 28th. The stock was bought at an average cost of $2.72 per share, for a total transaction of $163,822.88. Following the completion of the purchase, the chief executive officer now directly owns 14,462,943 shares in the company, valued at approximately $39,339,204.96. The trade was a 0.42% increase in their ownership of the stock. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Zvi Limon bought 168,506 shares of the stock in a transaction on Thursday, February 27th. The stock was purchased at an average price of $2.93 per share, with a total value of $493,722.58. Following the completion of the purchase, the director now owns 2,987,383 shares of the company's stock, valued at $8,753,032.19. This represents a 5.98% increase in their ownership of the stock. The disclosure for this purchase can be found here. Insiders own 24.70% of the company's stock.

Institutional Investors Weigh In On Taboola.com

Several institutional investors have recently bought and sold shares of TBLA. Bridgeway Capital Management LLC lifted its stake in shares of Taboola.com by 1,257.3% during the fourth quarter. Bridgeway Capital Management LLC now owns 1,362,422 shares of the company's stock worth $4,973,000 after buying an additional 1,262,042 shares during the period. Wellington Management Group LLP lifted its stake in shares of Taboola.com by 6.1% during the fourth 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 period. Millennium Management LLC lifted its stake in shares of Taboola.com by 42.9% during the fourth 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 period. Yelin Lapidot Holdings Management Ltd. acquired a new stake in shares of Taboola.com during the fourth quarter worth $1,724,000. Finally, Renaissance Technologies LLC lifted its stake in shares of Taboola.com by 40.2% during the fourth quarter. Renaissance Technologies LLC now owns 1,546,300 shares of the company's stock worth $5,644,000 after buying an additional 443,700 shares during the period. 42.89% of the stock is currently owned by institutional investors and hedge funds.

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.