TD Cowen Lowers Taboola.com (NASDAQ:TBLA) Price Target to $5.00

Key Points

• TD Cowen lowered Taboola.com’s price target from $6.00 to $5.00 while maintaining a “buy” rating, implying 23.64% upside from the prior close.
• Analyst sentiment remains generally positive but mixed: Taboola has an overall “Moderate Buy” consensus rating and an average price target of $5.75, though several firms recently reduced ratings or targets.
• TBLA shares fell to $4.04, while major shareholder Apollo Management sold 12 million shares for $52.8 million, reducing its ownership by nearly 40%.

Taboola.com (NASDAQ:TBLA - Get Free Report) had its price objective lowered by TD Cowen from $6.00 to $5.00 in a research report issued on Monday,Benzinga reports. The brokerage currently has a "buy" rating on the stock. TD Cowen's target price indicates a potential upside of 23.64% from the company's previous close.

A number of other research firms have also recently commented on TBLA. Rosenblatt Securities reiterated a "buy" rating and set a $7.00 target price on shares of Taboola.com in a research note on Thursday. Benchmark reduced their price target on shares of Taboola.com from $6.50 to $5.50 and set a "buy" rating for the company in a research report on Thursday. Wall Street Zen downgraded shares of Taboola.com from a "strong-buy" rating to a "hold" rating in a report on Saturday. Zacks Research lowered shares of Taboola.com from a "strong-buy" rating to a "hold" rating in a research report on Monday, April 27th. Finally, Weiss Ratings upgraded shares of Taboola.com from a "hold (c)" rating to a "hold (c+)" rating in a research note on Thursday. Four investment analysts have rated the stock with a Buy rating and three have issued a Hold rating to the stock. According to MarketBeat, the company presently has an average rating of "Moderate Buy" and an average target price of $5.75.

Taboola.com Stock Performance

TBLA stock traded down $0.06 during midday trading on Monday, hitting $4.04. The company's stock had a trading volume of 694,211 shares, compared to its average volume of 2,421,552. The stock's 50-day moving average price is $4.94 and its 200 day moving average price is $4.18. The company has a quick ratio of 1.11, a current ratio of 1.11 and a debt-to-equity ratio of 0.08. Taboola.com has a 1 year low of $2.84 and a 1 year high of $5.71. The stock has a market cap of $1.02 billion, a price-to-earnings ratio of 10.09 and a beta of 1.50.

Insiders Place Their Bets

In other news, major shareholder Apollo Management Holdings Gp, sold 12,000,000 shares of Taboola.com stock in a transaction dated Thursday, May 28th. The shares were sold at an average price of $4.40, for a total value of $52,800,000.00. Following the completion of the transaction, the insider owned 18,039,644 shares in the company, valued at $79,374,433.60. This trade represents a 39.95% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. 20.60% of the stock is owned by corporate insiders.

Institutional Trading of Taboola.com

A number of institutional investors have recently modified their holdings of the business. Stoic Point Capital Management LLC purchased a new stake in shares of Taboola.com during the fourth quarter worth $5,699,000. Two Sigma Investments LP lifted its holdings in Taboola.com by 114.6% during the 3rd quarter. Two Sigma Investments LP now owns 2,005,558 shares of the company's stock worth $6,839,000 after purchasing an additional 1,070,864 shares in the last quarter. Walleye Capital LLC purchased a new stake in shares of Taboola.com in the fourth quarter worth about $4,414,000. Marshall Wace LLP purchased a new stake in shares of Taboola.com in the fourth quarter worth $4,008,000. Finally, HRT Financial LP bought a new position in shares of Taboola.com in the fourth quarter worth approximately $3,196,000. 42.89% of the stock is currently owned by hedge funds and other institutional investors.

About Taboola.com

Taboola.com NASDAQ: TBLA operates a leading content discovery platform that connects advertisers with premium publishers through native advertising and personalized recommendations. The company’s technology analyzes user behavior and contextual information to deliver promoted content, video, and product recommendations to audiences across a network of thousands of websites and mobile apps. By leveraging machine learning and big data, Taboola helps publishers generate incremental revenue while enabling advertisers to reach engaged users at scale.

Taboola’s suite of products includes feed placements, video recommendations, and sponsored content units designed to blend seamlessly with editorial pages.

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