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

Needham & Company LLC reissued their buy rating on shares of Taboola.com (NASDAQ:TBLA) in a report published on Tuesday, Benzinga reports. Needham & Company LLC currently has a $5.00 price objective on the stock.

Separately, Benchmark restated a buy rating and issued a $6.00 price objective on shares of Taboola.com in a report on Tuesday, August 6th. Four equities research analysts have rated the stock with a buy rating, According to data from MarketBeat.com, the company has a consensus rating of Buy and a consensus price target of $5.56.

Taboola.com Stock Up 1.9 %

NASDAQ:TBLA opened at $3.27 on Tuesday. The company has a market cap of $950.70 million, a price-to-earnings ratio of -14.22 and a beta of 1.29. The company has a debt-to-equity ratio of 0.14, a quick ratio of 1.31 and a current ratio of 1.31. The stock’s fifty day moving average price is $3.28 and its two-hundred day moving average price is $3.74. Taboola.com has a 52-week low of $2.87 and a 52-week high of $5.00.

Taboola.com (NASDAQ:TBLA) last posted its quarterly earnings results on Wednesday, August 7th. The company reported ($0.01) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.05) by $0.04. The business had revenue of $428.00 million for the quarter, compared to analysts’ expectations of $428.67 million. Taboola.com had a negative return on equity of 1.57% and a negative net margin of 3.07%. The firm’s quarterly revenue was up 28.9% compared to the same quarter last year. During the same quarter last year, the business earned ($0.05) earnings per share. On average, analysts anticipate that Taboola.com will post 0.03 EPS for the current year.

Insider Buying and Selling at Taboola.com

In other news, Director Lynda M. Clarizio sold 29,606 shares of the business’s stock in a transaction dated 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 directly owns 176,158 shares in the company, valued at approximately $635,930.38. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Insiders own 22.40% of the company’s stock.

Hedge Funds Weigh In On Taboola.com

Hedge funds and other institutional investors have recently made changes to their positions in the company. Point72 Asset Management L.P. bought a new position in Taboola.com in the second quarter valued at approximately $47,000. Bayesian Capital Management LP bought a new position in Taboola.com during the first quarter worth $61,000. EverSource Wealth Advisors LLC acquired a new position in Taboola.com in the 2nd quarter valued at about $69,000. Bailard Inc. acquired a new stake in Taboola.com during the second quarter worth approximately $102,000. Finally, XTX Topco Ltd boosted its holdings in shares of Taboola.com by 104.3% during the second quarter. XTX Topco Ltd now owns 30,170 shares of the company’s stock worth $104,000 after acquiring an additional 15,401 shares during the period. 42.89% of the stock is owned by 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.