Taboola.com (NASDAQ:TBLA) Shares Up 4.8% – What’s Next?

Taboola.com Ltd. (NASDAQ:TBLA)’s share price rose 4.8% during mid-day trading on Tuesday . The stock traded as high as $3.47 and last traded at $3.47. Approximately 182,229 shares changed hands during trading, a decline of 83% from the average daily volume of 1,065,479 shares. The stock had previously closed at $3.31.

Wall Street Analysts Forecast Growth

Several research firms recently commented on TBLA. Benchmark reissued a “buy” rating and issued a $5.00 target price on shares of Taboola.com in a report on Monday, October 7th. Needham & Company LLC reissued a “buy” rating and set a $5.00 target price on shares of Taboola.com in a research report on Wednesday. Four investment 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 target price of $5.31.

Taboola.com Price Performance

The stock has a market capitalization of $1.06 billion, a price-to-earnings ratio of -15.78 and a beta of 1.29. The company has a current ratio of 1.31, a quick ratio of 1.31 and a debt-to-equity ratio of 0.14. The company’s 50 day moving average is $3.29 and its 200 day moving average is $3.63.

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

Insiders Place Their Bets

In other news, Director Lynda M. Clarizio sold 29,606 shares of the firm’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 transaction of $106,877.66. Following the transaction, the director now directly owns 176,158 shares in the company, valued at approximately $635,930.38. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. 22.40% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Taboola.com

Several hedge funds have recently made changes to their positions in TBLA. Wellington Management Group LLP increased its position in Taboola.com by 22.2% in the 4th quarter. Wellington Management Group LLP now owns 15,767,681 shares of the company’s stock valued at $68,274,000 after acquiring an additional 2,859,451 shares during the period. Counterpoint Mutual Funds LLC increased its holdings in shares of Taboola.com by 35.6% in the first quarter. Counterpoint Mutual Funds LLC now owns 30,798 shares of the company’s stock valued at $137,000 after purchasing an additional 8,079 shares during the period. Hennion & Walsh Asset Management Inc. raised its stake in shares of Taboola.com by 8.0% during the first quarter. Hennion & Walsh Asset Management Inc. now owns 60,701 shares of the company’s stock worth $270,000 after purchasing an additional 4,478 shares during the last quarter. Saxon Interests Inc. acquired a new stake in shares of Taboola.com during the first quarter worth $179,000. Finally, Commonwealth Equity Services LLC grew its position in Taboola.com by 20.5% in the 1st quarter. Commonwealth Equity Services LLC now owns 258,500 shares of the company’s stock valued at $1,148,000 after buying an additional 43,936 shares during the last quarter. Institutional investors and hedge funds own 42.89% of the company’s stock.

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.