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

Taboola.com (NASDAQ:TBLA)‘s stock had its “buy” rating reiterated by investment analysts at Needham & Company LLC in a report released on Wednesday,Benzinga reports. They presently have a $5.00 target price on the stock. Needham & Company LLC’s price objective suggests a potential upside of 26.58% from the company’s current price.

Separately, Benchmark reissued a “buy” rating and issued a $5.00 price objective on shares of Taboola.com in a research note on Monday, October 7th. Four analysts have rated the stock with a buy rating, According to data from MarketBeat.com, Taboola.com currently has a consensus rating of “Buy” and an average target price of $5.31.

Taboola.com Trading Down 2.5 %

Shares of TBLA stock opened at $3.95 on Wednesday. Taboola.com has a fifty-two week low of $2.87 and a fifty-two week high of $5.00. 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 has a 50 day simple moving average of $3.57 and a two-hundred day simple moving average of $3.43. The company has a market cap of $1.15 billion, a P/E ratio of -39.50 and a beta of 1.29.

Taboola.com (NASDAQ:TBLA) last announced its quarterly earnings data on Thursday, November 7th. The company reported ($0.02) earnings per share for the quarter, missing the consensus estimate of $0.02 by ($0.04). The company had revenue of $433.10 million for the quarter, compared to analyst estimates of $429.43 million. Taboola.com had a negative net margin of 1.96% and a negative return on equity of 1.68%. During the same quarter in the prior year, the company posted ($0.02) EPS.

Insider Buying and Selling

In related news, Director Richard T. Scanlon sold 250,000 shares of Taboola.com stock in a transaction that occurred on Tuesday, November 19th. The stock was sold at an average price of $3.16, for a total transaction of $790,000.00. Following the transaction, the director now owns 70,642 shares of the company’s stock, valued at $223,228.72. The trade was a 77.97 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. 22.40% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Taboola.com

Several large investors have recently bought and sold shares of the stock. Acadian Asset Management LLC grew its stake 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 worth $6,489,000 after acquiring an additional 1,216,902 shares in the last quarter. Tredje AP fonden purchased a new stake in Taboola.com in the 2nd quarter valued at about $1,376,000. Millennium Management LLC lifted its position in shares of Taboola.com by 32.3% during the 2nd quarter. Millennium Management LLC now owns 1,339,987 shares of the company’s stock worth $4,610,000 after buying an additional 327,518 shares in the last quarter. Algert Global LLC purchased a new position in shares of Taboola.com in the 2nd quarter worth approximately $1,020,000. Finally, Empowered Funds LLC bought a new position in shares of Taboola.com in the third quarter valued at approximately $337,000. 42.89% of the stock is currently owned by institutional investors.

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.