Taboola.com (NASDAQ:TBLA) Stock Price Down 7.8% Following Weak Earnings

Taboola.com Ltd. (NASDAQ:TBLA) shares fell 7.8% during trading on Thursday following a dissappointing earnings announcement. The stock traded as low as $2.99 and last traded at $3.08. 462,324 shares were traded 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) EPS for the quarter, missing analysts’ consensus estimates of $0.02 by ($0.04). The business had revenue of $433.10 million during the quarter, compared to analyst estimates of $429.43 million. Taboola.com had a negative net margin of 3.07% and a negative return on equity of 1.57%. During the same period in the previous year, the firm earned ($0.02) earnings per share.

Wall Street Analysts Forecast Growth

Several analysts have commented on the company. Needham & Company LLC reaffirmed a “buy” rating and set a $5.00 price objective on shares of Taboola.com in a research note on Friday. Benchmark restated a “buy” rating and set a $5.00 price target 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, the company presently has an average rating of “Buy” and a consensus price target of $5.31.

Insider Buying and Selling

In related news, Director Lynda M. Clarizio sold 29,606 shares of the company’s stock in a transaction on Thursday, August 29th. The stock was sold at an average price of $3.61, for a total transaction of $106,877.66. Following the transaction, the director now owns 176,158 shares of the company’s stock, valued at $635,930.38. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. 22.40% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

Hedge funds have recently added to or reduced their stakes in the stock. nVerses Capital LLC grew its holdings 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 acquiring an additional 4,100 shares during the period. Point72 Asset Management L.P. acquired a new stake in Taboola.com in the second quarter valued at $47,000. Bayesian Capital Management LP purchased a new position in shares of Taboola.com in the first quarter valued at $61,000. Aigen Investment Management LP acquired a new position in shares of Taboola.com during the 3rd quarter worth $63,000. Finally, EverSource Wealth Advisors LLC purchased a new stake in shares of Taboola.com in the 2nd quarter worth about $69,000. 42.89% of the stock is owned by hedge funds and other institutional investors.

Taboola.com Stock Down 2.4 %

The company has a debt-to-equity ratio of 0.14, a current ratio of 1.31 and a quick ratio of 1.31. The firm’s 50-day moving average price is $3.35 and its 200 day moving average price is $3.55. The firm has a market capitalization of $944.36 million, a price-to-earnings ratio of -21.60 and a beta of 1.28.

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.