Wall Street Zen Upgrades Taboola.com (NASDAQ:TBLA) to "Buy"

Key Points

• Taboola.com has been upgraded to a "Buy" rating by Wall Street Zen, indicating increased investor confidence.
• B. Riley and Needham & Company have also raised their price targets for Taboola.com to $4.50, with the stock having an average target price of $4.50.
• Recent insider trading shows significant sales by company executives, with the director reducing their ownership by 10.98% after selling shares at an average price of $3.38.

Taboola.com (NASDAQ:TBLA - Get Free Report) was upgraded by equities researchers at Wall Street Zen from a "hold" rating to a "buy" rating in a report released on Saturday.

Other equities analysts have also issued research reports about the company. B. Riley lifted their price target on Taboola.com from $4.00 to $4.50 and gave the stock a "buy" rating in a research report on Thursday, August 7th. Needham & Company LLC upped their price objective on Taboola.com from $3.34 to $4.50 and gave the stock a "buy" rating in a research note on Tuesday, June 17th. Four research analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the company. According to MarketBeat.com, the stock has an average rating of "Moderate Buy" and an average target price of $4.50.

Taboola.com Stock Down 1.8%

Shares of NASDAQ TBLA opened at $3.35 on Friday. The company has a quick ratio of 1.07, a current ratio of 1.08 and a debt-to-equity ratio of 0.10. Taboola.com has a 52 week low of $2.50 and a 52 week high of $4.30. The firm's fifty day moving average is $3.39 and its 200 day moving average is $3.25. The company has a market cap of $886.75 million, a price-to-earnings ratio of 83.75 and a beta of 1.27.

Insider Buying and Selling at Taboola.com

In other Taboola.com news, Director Erez Shachar sold 27,000 shares of the business's stock in a transaction dated Thursday, August 28th. The shares were sold at an average price of $3.38, for a total transaction of $91,260.00. Following the sale, the director directly owned 218,827 shares in the company, valued at $739,635.26. This represents a 10.98% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, COO Eldad Maniv sold 20,083 shares of the company's stock in a transaction on Tuesday, June 17th. The shares were sold at an average price of $3.75, for a total transaction of $75,311.25. Following the completion of the sale, the chief operating officer owned 10,872,377 shares of the company's stock, valued at approximately $40,771,413.75. This trade represents a 0.18% decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 49,183 shares of company stock worth $174,467. Insiders own 24.70% of the company's stock.

Institutional Investors Weigh In On Taboola.com

Several hedge funds have recently modified their holdings of the company. Millennium Management LLC lifted its position in Taboola.com by 42.9% during the fourth quarter. Millennium Management LLC now owns 2,217,442 shares of the company's stock valued at $8,094,000 after buying an additional 665,944 shares in the last quarter. Wealth Enhancement Advisory Services LLC lifted its holdings in Taboola.com by 16.4% in the first quarter. Wealth Enhancement Advisory Services LLC now owns 41,300 shares of the company's stock worth $122,000 after purchasing an additional 5,829 shares during the period. D. E. Shaw & Co. Inc. acquired a new stake in Taboola.com in the 4th quarter valued at about $785,000. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its holdings in Taboola.com by 37.5% during the 4th quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 373,075 shares of the company's stock worth $1,362,000 after buying an additional 101,677 shares during the period. Finally, Northern Trust Corp increased its holdings in shares of Taboola.com by 105.1% in the 4th quarter. Northern Trust Corp now owns 144,011 shares of the company's stock valued at $526,000 after purchasing an additional 73,795 shares during the period. 42.89% of the stock is 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.

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