Taboola.com (NASDAQ:TBLA) Stock Price Down 7.8% After Earnings Miss

Taboola.com Ltd. (NASDAQ:TBLA)’s share price fell 7.8% during trading on Thursday after the company announced weaker than expected quarterly earnings. The company traded as low as $2.99 and last traded at $3.08. 462,324 shares traded hands during mid-day trading, a decline of 56% from the average session volume of 1,042,283 shares. The stock had previously closed at $3.34.

The company reported ($0.02) earnings per share for the quarter, missing analysts’ consensus estimates of $0.02 by ($0.04). The company had revenue of $433.10 million during the quarter, compared to analyst estimates of $429.43 million. Taboola.com had a negative return on equity of 1.57% and a negative net margin of 3.07%. During the same period last year, the company posted ($0.02) earnings per share.

Wall Street Analyst Weigh In

Several analysts have commented on TBLA shares. Benchmark reissued a “buy” rating and issued a $5.00 target price on shares of Taboola.com in a research report on Monday, October 7th. Needham & Company LLC reiterated a “buy” rating and issued a $5.00 price objective on shares of Taboola.com in a report on Friday. Four equities research analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, Taboola.com has an average rating of “Buy” and an average price target of $5.31.

Insider Buying and Selling

In other Taboola.com news, Director Lynda M. Clarizio sold 29,606 shares of the firm’s stock in a transaction that occurred on Thursday, August 29th. The stock was sold at an average price of $3.61, for a total value of $106,877.66. Following the completion of the sale, the director now owns 176,158 shares in the company, valued at approximately $635,930.38. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 22.40% of the stock is owned by insiders.

Institutional Trading of Taboola.com

Institutional investors have recently made changes to their positions in the business. nVerses Capital LLC grew its stake 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 valued at $32,000 after purchasing an additional 4,100 shares during the period. Bayesian Capital Management LP acquired a new stake in Taboola.com in the 1st quarter valued at $61,000. Point72 Asset Management L.P. bought a new stake in Taboola.com in the second quarter valued at $47,000. Aigen Investment Management LP acquired a new position in Taboola.com during the third quarter worth $63,000. Finally, EverSource Wealth Advisors LLC acquired a new stake in shares of Taboola.com in the 2nd quarter valued at $69,000. 42.89% of the stock is currently owned by institutional investors and hedge funds.

Taboola.com Trading Down 2.4 %

The firm has a market cap of $944.36 million, a P/E ratio of -21.60 and a beta of 1.28. The company’s fifty day moving average price is $3.35 and its two-hundred day moving average price is $3.55. The company has a current ratio of 1.31, a quick ratio of 1.31 and a debt-to-equity ratio of 0.14.

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.