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

Taboola.com (NASDAQ:TBLA)‘s stock had its “buy” rating restated by stock analysts at Needham & Company LLC in a research report issued on Friday,Benzinga reports. They presently have a $5.00 price target on the stock. Needham & Company LLC’s price target would indicate a potential upside of 54.32% from the company’s previous close.

Separately, Benchmark reiterated a “buy” rating and set a $5.00 price target on shares of Taboola.com in a research report on Monday, October 7th. Four investment analysts have rated the stock with a buy rating, According to MarketBeat.com, the stock presently has a consensus rating of “Buy” and an average target price of $5.31.

Taboola.com Price Performance

NASDAQ:TBLA opened at $3.24 on Friday. The company has a debt-to-equity ratio of 0.14, a current ratio of 1.31 and a quick ratio of 1.31. The company has a 50 day moving average price of $3.35 and a 200-day moving average price of $3.55. Taboola.com has a 1-year low of $2.87 and a 1-year high of $5.00. The firm has a market cap of $944.36 million, a price-to-earnings ratio of -21.60 and a beta of 1.28.

Taboola.com (NASDAQ:TBLA) last released its quarterly earnings data on Thursday, November 7th. The company reported ($0.02) earnings per share for the quarter, missing analysts’ consensus estimates of $0.02 by ($0.04). Taboola.com had a negative net margin of 3.07% and a negative return on equity of 1.57%. The firm had revenue of $433.10 million during the quarter, compared to analysts’ expectations of $429.43 million. During the same period in the previous year, the firm posted ($0.02) EPS. Equities research analysts forecast that Taboola.com will post 0.03 EPS for the current year.

Insider Activity at Taboola.com

In other Taboola.com news, Director Lynda M. Clarizio sold 29,606 shares of the stock in a transaction that occurred on Thursday, August 29th. The stock was sold at an average price of $3.61, for a total transaction of $106,877.66. Following the completion of the transaction, the director now owns 176,158 shares of the company’s stock, valued at $635,930.38. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. 22.40% of the stock is currently owned by corporate insiders.

Institutional Trading of Taboola.com

Large investors have recently made changes to their positions in the company. Acadian Asset Management LLC grew its holdings in shares of Taboola.com by 181.2% during the second quarter. Acadian Asset Management LLC now owns 1,888,614 shares of the company’s stock worth $6,489,000 after buying an additional 1,216,902 shares in the last quarter. Levin Capital Strategies L.P. grew its stake in Taboola.com by 238.1% during the 1st quarter. Levin Capital Strategies L.P. now owns 884,104 shares of the company’s stock valued at $3,925,000 after acquiring an additional 622,614 shares in the last quarter. Tredje AP fonden acquired a new stake in Taboola.com in the 2nd quarter valued at about $1,376,000. Millennium Management LLC lifted its stake in Taboola.com by 32.3% in the 2nd quarter. Millennium Management LLC now owns 1,339,987 shares of the company’s stock worth $4,610,000 after purchasing an additional 327,518 shares in the last quarter. Finally, Algert Global LLC acquired a new position in shares of Taboola.com during the 2nd quarter worth approximately $1,020,000. 42.89% of the stock is currently owned by hedge funds and other institutional investors.

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.