Needham & Company LLC Reiterates Buy Rating for Taboola.com (NASDAQ:TBLA)

Taboola.com (NASDAQ:TBLA)‘s stock had its “buy” rating reiterated by equities research analysts at Needham & Company LLC in a research note issued to investors on Thursday, Benzinga reports. They presently have a $6.00 price objective on the stock. Needham & Company LLC’s price target suggests a potential upside of 34.23% from the stock’s previous close.

A number of other research firms have also weighed in on TBLA. B. Riley raised their price objective on shares of Taboola.com from $5.00 to $6.00 and gave the company a “buy” rating in a research note on Thursday, December 21st. TheStreet upgraded Taboola.com from a “d+” rating to a “c-” rating in a report on Friday, January 19th. Oppenheimer lifted their target price on Taboola.com from $5.50 to $6.00 and gave the company an “outperform” rating in a research report on Thursday, February 29th. Finally, Benchmark reaffirmed a “buy” rating and set a $6.00 price target on shares of Taboola.com in a research note on Tuesday, December 19th. Five investment analysts have rated the stock with a buy rating, According to MarketBeat.com, the stock currently has a consensus rating of “Buy” and an average target price of $5.94.

Taboola.com Stock Performance

TBLA traded up $0.07 on Thursday, reaching $4.47. The company had a trading volume of 1,200,369 shares, compared to its average volume of 1,532,394. The company’s fifty day moving average is $4.52 and its 200 day moving average is $4.08. Taboola.com has a fifty-two week low of $2.16 and a fifty-two week high of $5.00. The stock has a market cap of $1.32 billion, a P/E ratio of -18.71 and a beta of 1.37. The company has a debt-to-equity ratio of 0.13, a quick ratio of 1.32 and a current ratio of 1.32.

Taboola.com (NASDAQ:TBLA) last announced its earnings results on Wednesday, February 28th. The company reported $0.01 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.04) by $0.05. The firm had revenue of $419.80 million for the quarter, compared to analyst estimates of $436.96 million. Taboola.com had a negative net margin of 5.70% and a negative return on equity of 1.85%. The business’s revenue was up 13.1% compared to the same quarter last year. During the same quarter in the prior year, the business posted $0.11 EPS. As a group, analysts predict that Taboola.com will post 0.13 earnings per share for the current fiscal year.

Insider Activity

In other news, CTO Lior Golan sold 21,927 shares of the company’s stock in a transaction that occurred on Wednesday, January 31st. The stock was sold at an average price of $4.88, for a total value of $107,003.76. Following the transaction, the chief technology officer now owns 2,545,291 shares of the company’s stock, valued at $12,421,020.08. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. In other news, COO Eldad Maniv sold 142,749 shares of the stock in a transaction on Wednesday, January 10th. The stock was sold at an average price of $4.38, for a total value of $625,240.62. Following the completion of the transaction, the chief operating officer now directly owns 9,399,280 shares in the company, valued at approximately $41,168,846.40. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CTO Lior Golan sold 21,927 shares of the firm’s stock in a transaction on Wednesday, January 31st. The stock was sold at an average price of $4.88, for a total value of $107,003.76. Following the transaction, the chief technology officer now directly owns 2,545,291 shares of the company’s stock, valued at $12,421,020.08. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 480,946 shares of company stock valued at $2,055,413. 23.49% of the stock is owned by insiders.

Institutional Inflows and Outflows

Several large investors have recently bought and sold shares of the stock. Vanguard Group Inc. raised its position in Taboola.com by 459.2% during the 4th quarter. Vanguard Group Inc. now owns 642,896 shares of the company’s stock worth $2,784,000 after purchasing an additional 527,937 shares during the last quarter. Wellington Management Group LLP grew its holdings in Taboola.com by 22.2% during the 4th quarter. Wellington Management Group LLP now owns 15,767,681 shares of the company’s stock worth $68,274,000 after acquiring an additional 2,859,451 shares during the period. Goldman Sachs Group Inc. grew its stake in shares of Taboola.com by 963.2% in the 4th quarter. Goldman Sachs Group Inc. now owns 309,161 shares of the company’s stock valued at $1,339,000 after buying an additional 280,083 shares during the period. Virtu Financial LLC acquired a new stake in shares of Taboola.com in the 4th quarter valued at about $168,000. Finally, GSA Capital Partners LLP boosted its stake in Taboola.com by 292.4% during the 4th quarter. GSA Capital Partners LLP now owns 657,758 shares of the company’s stock valued at $2,848,000 after purchasing an additional 490,149 shares during the last quarter. 42.89% of the stock is owned by institutional investors.

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.