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

Taboola.com (NASDAQ:TBLA)‘s stock had its “buy” rating restated by equities researchers at Needham & Company LLC in a research report issued on Wednesday, Benzinga reports. They currently have a $6.00 target price on the stock. Needham & Company LLC’s target price points to a potential upside of 36.05% from the stock’s previous close.

TBLA has been the topic of several other research reports. Oppenheimer upped their target price on shares of Taboola.com from $5.50 to $6.00 and gave the stock an “outperform” rating in a report on Thursday, February 29th. TheStreet raised shares of Taboola.com from a “d+” rating to a “c-” rating in a report on Friday, January 19th. Benchmark reissued a “buy” rating and issued a $6.00 target price on shares of Taboola.com in a report on Monday. Finally, B. Riley restated a “buy” rating and issued a $5.25 price objective on shares of Taboola.com in a research report on Wednesday, April 24th. Five research analysts have rated the stock with a buy rating, According to data from MarketBeat, Taboola.com presently has an average rating of “Buy” and an average price target of $5.79.

Taboola.com Stock Performance

Shares of TBLA stock traded down $0.12 during mid-day trading on Wednesday, reaching $4.41. The stock had a trading volume of 2,308,287 shares, compared to its average volume of 1,338,799. Taboola.com has a one year low of $2.27 and a one year high of $5.00. The firm has a market cap of $1.30 billion, a PE ratio of -18.42 and a beta of 1.35. The firm’s 50 day simple moving average is $4.29 and its 200 day simple moving average is $4.18. The company has a quick ratio of 1.32, a current ratio of 1.32 and a debt-to-equity ratio of 0.13.

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

Insider Activity at Taboola.com

In other Taboola.com news, CTO Lior Golan sold 10,187 shares of the business’s stock in a transaction that occurred on Monday, February 12th. The stock was sold at an average price of $4.86, for a total transaction of $49,508.82. Following the transaction, the chief technology officer now owns 2,545,291 shares of the company’s stock, valued at $12,370,114.26. The sale was disclosed in a document filed with the SEC, which is available through this link. 22.40% of the stock is owned by company insiders.

Institutional Trading of Taboola.com

Several large investors have recently made changes to their positions in TBLA. Bank of New York Mellon Corp lifted its holdings in shares of Taboola.com by 24.5% during the third quarter. Bank of New York Mellon Corp now owns 20,504 shares of the company’s stock worth $78,000 after purchasing an additional 4,030 shares during the period. Counterpoint Mutual Funds LLC bought a new stake in Taboola.com in the 4th quarter valued at about $98,000. Harbor Capital Advisors Inc. lifted its holdings in shares of Taboola.com by 10.6% in the 4th quarter. Harbor Capital Advisors Inc. now owns 28,326 shares of the company’s stock worth $123,000 after purchasing an additional 2,726 shares in the last quarter. Hennion & Walsh Asset Management Inc. bought a new stake in shares of Taboola.com during the third quarter worth about $145,000. Finally, Schnieders Capital Management LLC purchased a new position in shares of Taboola.com during the first quarter valued at approximately $163,000. 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.