Benchmark Issues Pessimistic Forecast for Taboola.com (NASDAQ:TBLA) Stock Price

Taboola.com (NASDAQ:TBLA) had its price objective dropped by stock analysts at Benchmark from $4.50 to $4.00 in a note issued to investors on Thursday,Benzinga reports. The firm presently has a “buy” rating on the stock. Benchmark’s price target would indicate a potential upside of 19.76% from the stock’s current price.

Other equities research analysts have also recently issued reports about the company. JMP Securities cut their target price on Taboola.com from $6.00 to $5.00 and set a “market outperform” rating for the company in a research note on Monday, January 27th. B. Riley upgraded Taboola.com from a “neutral” rating to a “buy” rating and set a $4.00 target price on the stock in a research report on Thursday. Oppenheimer reissued a “market perform” rating on shares of Taboola.com in a report on Wednesday, February 26th. Needham & Company LLC reaffirmed a “buy” rating and set a $4.00 price target on shares of Taboola.com in a report on Thursday, March 27th. Finally, Citizens Jmp lowered shares of Taboola.com from an “outperform” rating to a “market perform” rating in a research report on Thursday, February 27th. Two research analysts have rated the stock with a hold rating and four have issued a buy rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $4.25.

Taboola.com Price Performance

Shares of NASDAQ:TBLA opened at $3.34 on Thursday. The firm has a 50 day moving average of $2.91 and a 200-day moving average of $3.39. Taboola.com has a 12 month low of $2.50 and a 12 month high of $4.55. The company has a current ratio of 1.31, a quick ratio of 1.31 and a debt-to-equity ratio of 0.14. The stock has a market capitalization of $984.70 million, a PE ratio of -33.40 and a beta of 1.21.

Taboola.com announced that its board has authorized a share buyback program 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 shares through open market purchases. Shares buyback programs are generally a sign that the company’s board of directors believes its stock is undervalued.

Insider Buying and Selling at Taboola.com

In related news, Director Zvi Limon acquired 168,506 shares of the business’s stock in a transaction that occurred on Thursday, February 27th. The shares were bought at an average cost of $2.93 per share, with a total value of $493,722.58. Following the completion of the purchase, the director now directly owns 2,987,383 shares in the company, valued at $8,753,032.19. The trade was a 5.98 % increase in their ownership of the stock. The purchase was disclosed in a document filed with the SEC, which is available at this link. Also, CEO Adam Singolda acquired 60,229 shares of Taboola.com stock in a transaction dated Friday, February 28th. The stock was purchased at an average cost of $2.72 per share, for a total transaction of $163,822.88. Following the completion of the purchase, the chief executive officer now owns 14,462,943 shares in the company, valued at approximately $39,339,204.96. The trade was a 0.42 % increase in their position. The disclosure for this purchase can be found here. Corporate insiders own 22.40% of the company’s stock.

Institutional Investors Weigh In On Taboola.com

Several large investors have recently added to or reduced their stakes in TBLA. Wellington Management Group LLP grew its position in shares of Taboola.com by 6.1% during the 4th quarter. Wellington Management Group LLP now owns 19,205,915 shares of the company’s stock worth $70,102,000 after buying an additional 1,109,602 shares during the period. Phoenix Financial Ltd. increased its stake in Taboola.com by 0.3% in the first quarter. Phoenix Financial Ltd. now owns 7,419,080 shares of the company’s stock valued at $21,886,000 after purchasing an additional 21,400 shares in the last quarter. Millennium Management LLC raised its holdings in shares of 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 purchasing an additional 665,944 shares during the period. Renaissance Technologies LLC boosted its position in shares of Taboola.com by 40.2% during the 4th quarter. Renaissance Technologies LLC now owns 1,546,300 shares of the company’s stock worth $5,644,000 after purchasing an additional 443,700 shares in the last quarter. Finally, Connor Clark & Lunn Investment Management Ltd. increased its position in Taboola.com by 4.5% in the 4th quarter. Connor Clark & Lunn Investment Management Ltd. now owns 1,480,668 shares of the company’s stock valued at $5,404,000 after buying an additional 63,324 shares in the last quarter. Institutional investors and hedge funds 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.