B. Riley Upgrades Taboola.com (NASDAQ:TBLA) to Buy

B. Riley upgraded shares of Taboola.com (NASDAQ:TBLA) from a neutral rating to a buy rating in a research report sent to investors on Thursday morning, Marketbeat reports. They currently have $4.00 price objective on the stock.

Several other analysts also recently commented on TBLA. Oppenheimer reiterated a “market perform” rating on shares of Taboola.com in a research report on Wednesday, February 26th. Needham & Company LLC reaffirmed a “buy” rating and issued a $4.00 target price on shares of Taboola.com in a report on Thursday, March 27th. Citizens Jmp lowered Taboola.com from an “outperform” rating to a “market perform” rating in a report on Thursday, February 27th. JMP Securities reduced their price objective 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. Finally, Benchmark reiterated a “buy” rating and issued a $4.50 target price on shares of Taboola.com in a research note on Thursday, March 27th. Two equities research analysts have rated the stock with a hold rating and four have given a buy rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $4.25.

Taboola.com Stock Performance

NASDAQ:TBLA opened at $3.34 on Thursday. The company has a quick ratio of 1.31, a current ratio of 1.31 and a debt-to-equity ratio of 0.14. Taboola.com has a 52-week low of $2.50 and a 52-week high of $4.47. The stock’s 50 day moving average price is $2.91 and its 200 day moving average price is $3.38. The company has a market capitalization of $1.07 billion, a PE ratio of -33.40 and a beta of 1.21.

Taboola.com announced that its Board of Directors has authorized a share buyback plan on Wednesday, February 26th that allows the company to repurchase $200.00 million in outstanding shares. This repurchase authorization allows the company to reacquire up to 22.2% of its shares through open market purchases. Shares repurchase plans are often a sign that the company’s management believes its shares are undervalued.

Insiders Place Their Bets

In related news, Director Zvi Limon purchased 168,506 shares of the business’s stock in a transaction dated Thursday, February 27th. The stock was acquired at an average price of $2.93 per share, for a total transaction of $493,722.58. Following the acquisition, the director now directly owns 2,987,383 shares of the company’s stock, valued at $8,753,032.19. This trade represents a 5.98 % increase in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Adam Singolda acquired 60,229 shares of the firm’s stock in a transaction that occurred on Friday, February 28th. The shares were bought at an average cost of $2.72 per share, for a total transaction of $163,822.88. Following the acquisition, the chief executive officer now owns 14,462,943 shares of the company’s stock, valued at $39,339,204.96. This represents a 0.42 % increase in their position. The disclosure for this purchase can be found here. 24.70% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Taboola.com

Several hedge funds and other institutional investors have recently bought and sold shares of the company. CWM LLC grew its holdings in Taboola.com by 65.8% in the first quarter. CWM LLC now owns 11,348 shares of the company’s stock valued at $33,000 after purchasing an additional 4,502 shares during the last quarter. Wolverine Trading LLC raised its position in Taboola.com by 98.4% during the fourth quarter. Wolverine Trading LLC now owns 17,063 shares of the company’s stock worth $63,000 after acquiring an additional 8,463 shares during the last quarter. R Squared Ltd acquired a new position in Taboola.com during the fourth quarter worth about $68,000. Virtu Financial LLC acquired a new stake in shares of Taboola.com in the fourth quarter valued at approximately $81,000. Finally, Royce & Associates LP acquired a new stake in shares of Taboola.com in the first quarter valued at approximately $86,000. 42.89% of the stock is owned by institutional investors and hedge funds.

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.