Taboola.com (NASDAQ:TBLA) Stock Rating Upgraded by Wall Street Zen

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 research analysts at Wall Street Zen from a "hold" rating to a "buy" rating in a note issued to investors on Saturday.

Several other brokerages also recently commented on TBLA. Needham & Company LLC increased their price objective on shares of Taboola.com from $3.34 to $4.50 and gave the company a "buy" rating in a research note on Tuesday, June 17th. B. Riley increased their price objective on shares of Taboola.com from $4.00 to $4.50 and gave the company a "buy" rating in a research note on Thursday, August 7th. Four research analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company's stock. According to data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and a consensus price target of $4.50.

Taboola.com Price Performance

NASDAQ:TBLA traded down $0.01 on Friday, hitting $3.51. The company had a trading volume of 1,128,648 shares, compared to its average volume of 1,171,103. The stock has a market capitalization of $929.10 million, a price-to-earnings ratio of 87.75 and a beta of 1.27. The company has a current ratio of 1.08, a quick ratio of 1.07 and a debt-to-equity ratio of 0.10. The firm has a 50 day moving average of $3.37 and a two-hundred day moving average of $3.27. Taboola.com has a 52 week low of $2.50 and a 52 week high of $4.30.

Insider Activity

In other news, Director Erez Shachar sold 27,000 shares of the firm's stock in a transaction on Thursday, August 28th. The shares were sold at an average price of $3.38, for a total transaction of $91,260.00. Following the completion of the transaction, the director owned 218,827 shares of the company's stock, valued at approximately $739,635.26. This trade represents a 10.98% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders own 24.70% of the company's stock.

Hedge Funds Weigh In On Taboola.com

Hedge funds have recently bought and sold shares of the company. Millennium Management LLC raised its stake in 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 last quarter. Wealth Enhancement Advisory Services LLC raised its stake in Taboola.com by 16.4% during the first quarter. Wealth Enhancement Advisory Services LLC now owns 41,300 shares of the company's stock worth $122,000 after buying an additional 5,829 shares during the last quarter. D. E. Shaw & Co. Inc. bought a new position in Taboola.com during the fourth quarter worth $785,000. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its stake in Taboola.com by 37.5% during the fourth 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 last quarter. Finally, Acadian Asset Management LLC raised its stake in Taboola.com by 13.1% during the first quarter. Acadian Asset Management LLC now owns 2,875,922 shares of the company's stock worth $8,476,000 after buying an additional 332,660 shares during the last quarter. 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.