Taboola.com (NASDAQ:TBLA) Shares Gap Down – Here’s Why

Taboola.com Ltd. (NASDAQ:TBLA) shares gapped down before the market opened on Tuesday . The stock had previously closed at $3.76, but opened at $3.67. Taboola.com shares last traded at $3.71, with a volume of 143,133 shares trading hands.

Analyst Upgrades and Downgrades

Several equities research analysts have recently issued reports on TBLA shares. Needham & Company LLC reiterated a “buy” rating and set a $5.00 price objective on shares of Taboola.com in a research report on Wednesday, October 16th. Benchmark restated a “buy” rating and set a $5.00 price target on shares of Taboola.com in a report on Monday, October 7th. Four analysts have rated the stock with a buy rating, Based on data from MarketBeat, the company currently has an average rating of “Buy” and an average price target of $5.31.

Taboola.com Price Performance

The firm’s 50 day simple moving average is $3.32 and its 200 day simple moving average is $3.61. The company has a market capitalization of $1.08 billion, a PE ratio of -16.57 and a beta of 1.29. 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 (NASDAQ:TBLA) last issued its quarterly earnings results on Wednesday, August 7th. The company reported ($0.01) earnings per share for the quarter, topping the consensus estimate of ($0.05) by $0.04. The firm had revenue of $428.00 million for the quarter, compared to the consensus estimate of $428.67 million. Taboola.com had a negative return on equity of 1.57% and a negative net margin of 3.07%. The company’s revenue for the quarter was up 28.9% on a year-over-year basis. During the same period in the prior year, the business posted ($0.05) earnings per share. As a group, research analysts anticipate that Taboola.com Ltd. will post 0.03 EPS for the current fiscal year.

Insider Buying and Selling

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

Institutional Inflows and Outflows

A number of hedge funds have recently bought and sold shares of TBLA. Acadian Asset Management LLC increased its position in shares of Taboola.com by 181.2% in the 2nd quarter. Acadian Asset Management LLC now owns 1,888,614 shares of the company’s stock valued at $6,489,000 after acquiring an additional 1,216,902 shares during the period. Levin Capital Strategies L.P. increased its holdings in shares of Taboola.com by 238.1% in the first quarter. Levin Capital Strategies L.P. now owns 884,104 shares of the company’s stock valued at $3,925,000 after purchasing an additional 622,614 shares during the period. Tredje AP fonden acquired a new position in shares of Taboola.com in the second quarter valued at about $1,376,000. Millennium Management LLC raised its stake in shares of Taboola.com by 32.3% in the second 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 during the last quarter. Finally, Algert Global LLC acquired a new stake in shares of Taboola.com during the second quarter worth about $1,020,000. Institutional investors and hedge funds own 42.89% of the company’s stock.

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.