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

Taboola.com (NASDAQ:TBLA)‘s stock had its “buy” rating reissued by investment analysts at Needham & Company LLC in a report released on Wednesday, Benzinga reports. They currently have a $5.00 target price on the stock. Needham & Company LLC’s price target indicates a potential upside of 39.28% from the company’s previous close.

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

Taboola.com Price Performance

Taboola.com stock opened at $3.59 on Wednesday. The company has a market cap of $1.04 billion, a price-to-earnings ratio of -15.61 and a beta of 1.29. The firm has a 50 day moving average price of $3.30 and a 200 day moving average price of $3.63. Taboola.com has a 1 year low of $2.87 and a 1 year 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.

Taboola.com (NASDAQ:TBLA) last announced its quarterly earnings results on Wednesday, August 7th. The company reported ($0.01) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.05) by $0.04. The firm had revenue of $428.00 million during the quarter, compared to analysts’ expectations of $428.67 million. Taboola.com had a negative net margin of 3.07% and a negative return on equity of 1.57%. The firm’s revenue was up 28.9% on a year-over-year basis. During the same period in the prior year, the company earned ($0.05) EPS. Sell-side analysts predict that Taboola.com will post 0.03 earnings per share for the current year.

Insider Buying and Selling at Taboola.com

In other news, Director Lynda M. Clarizio sold 29,606 shares of Taboola.com 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 transaction, the director now owns 176,158 shares in the company, valued at approximately $635,930.38. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Company insiders own 22.40% of the company’s stock.

Institutional Trading of Taboola.com

A number of institutional investors have recently bought and sold shares of the business. nVerses Capital LLC boosted its position in shares of Taboola.com by 74.5% in the 3rd quarter. nVerses Capital LLC now owns 9,600 shares of the company’s stock worth $32,000 after purchasing an additional 4,100 shares during the last quarter. Hennion & Walsh Asset Management Inc. boosted its holdings in 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 buying an additional 4,478 shares during the last quarter. Van ECK Associates Corp grew its position in shares of Taboola.com by 8.5% during the 2nd quarter. Van ECK Associates Corp now owns 71,035 shares of the company’s stock worth $244,000 after buying an additional 5,535 shares during the period. Counterpoint Mutual Funds LLC increased its stake in shares of Taboola.com by 35.6% in the 1st quarter. Counterpoint Mutual Funds LLC now owns 30,798 shares of the company’s stock valued at $137,000 after acquiring an additional 8,079 shares during the last quarter. Finally, Arizona State Retirement System boosted its stake in Taboola.com by 22.2% during the 2nd quarter. Arizona State Retirement System now owns 45,493 shares of the company’s stock worth $156,000 after acquiring an additional 8,262 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.