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 published on Thursday morning, Marketbeat Ratings reports. They currently have $4.00 price target on the stock.

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

Taboola.com Stock Performance

Shares of NASDAQ TBLA remained flat at $3.34 during mid-day trading on Thursday. The stock had a trading volume of 2,403,505 shares, compared to its average volume of 1,263,057. The business's 50-day simple moving average is $2.91 and its 200-day simple moving average is $3.38. The firm has a market capitalization of $1.07 billion, a P/E ratio of -33.40 and a beta of 1.21. The company has a debt-to-equity ratio of 0.14, a current ratio of 1.31 and a quick ratio of 1.31. Taboola.com has a one year low of $2.50 and a one year high of $4.47.

Taboola.com declared that its Board of Directors has approved a share repurchase 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 a sign that the company's board of directors believes its shares are undervalued.

Insiders Place Their Bets

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

Institutional Trading of Taboola.com

Hedge funds and other institutional investors have recently bought and sold shares of the stock. CWM LLC boosted its position in Taboola.com by 65.8% during the 1st 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 period. Wealth Enhancement Advisory Services LLC raised its position in Taboola.com by 16.4% during the 1st quarter. Wealth Enhancement Advisory Services LLC now owns 41,300 shares of the company's stock valued at $122,000 after purchasing an additional 5,829 shares during the last quarter. Harbor Capital Advisors Inc. lifted its holdings in Taboola.com by 22.6% in the 4th quarter. Harbor Capital Advisors Inc. now owns 33,051 shares of the company's stock worth $121,000 after buying an additional 6,094 shares during the period. Meitav Investment House Ltd. grew its position in shares of Taboola.com by 9.4% in the 4th 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. Finally, Tidal Investments LLC increased its position in Taboola.com by 4.6% during the 3rd quarter. Tidal Investments LLC now owns 183,856 shares of the company's stock valued at $618,000 after purchasing an additional 8,127 shares during the period. 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.