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

Needham & Company LLC restated their buy rating on shares of Taboola.com (NASDAQ:TBLA) in a report published on Thursday morning, Benzinga reports. Needham & Company LLC currently has a $5.00 target price on the stock.

Other equities research analysts have also issued reports about the company. B. Riley restated a buy rating and set a $5.25 price target on shares of Taboola.com in a research report on Wednesday, April 24th. Benchmark restated a buy rating and set a $6.00 target price on shares of Taboola.com in a report on Tuesday, August 6th. Four research analysts have rated the stock with a buy rating, According to MarketBeat.com, the company currently has an average rating of Buy and an average target price of $5.56.

Taboola.com Trading Up 1.6 %

Shares of TBLA opened at $3.14 on Thursday. 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 stock has a market cap of $912.90 million, a PE ratio of -13.65 and a beta of 1.29. Taboola.com has a 1 year low of $2.87 and a 1 year high of $5.00. The stock has a 50 day simple moving average of $3.42 and a 200-day simple moving average of $4.05.

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, beating analysts’ consensus estimates of ($0.05) by $0.04. The company had revenue of $428.00 million during the quarter, compared to analysts’ expectations of $428.67 million. Taboola.com had a negative return on equity of 2.64% and a negative net margin of 5.04%. The business’s revenue was up 28.9% on a year-over-year basis. During the same period last year, the business earned ($0.05) earnings per share. On average, sell-side analysts predict that Taboola.com will post 0.03 EPS for the current fiscal year.

Institutional Inflows and Outflows

A number of hedge funds have recently bought and sold shares of TBLA. Wellington Management Group LLP lifted its stake in shares of Taboola.com by 22.2% during the fourth 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. Acadian Asset Management LLC lifted its position in Taboola.com by 181.2% during the 2nd quarter. Acadian Asset Management LLC now owns 1,888,614 shares of the company’s stock valued at $6,489,000 after purchasing an additional 1,216,902 shares during the period. Migdal Insurance & Financial Holdings Ltd. boosted its stake in shares of Taboola.com by 20.9% in the 4th quarter. Migdal Insurance & Financial Holdings Ltd. now owns 4,043,235 shares of the company’s stock valued at $17,507,000 after purchasing an additional 700,000 shares during the last quarter. Levin Capital Strategies L.P. grew its position in shares of Taboola.com by 238.1% during the 1st quarter. Levin Capital Strategies L.P. now owns 884,104 shares of the company’s stock worth $3,925,000 after buying an additional 622,614 shares during the period. Finally, GSA Capital Partners LLP raised its stake in shares of Taboola.com by 292.4% during the fourth quarter. GSA Capital Partners LLP now owns 657,758 shares of the company’s stock worth $2,848,000 after buying an additional 490,149 shares during the last quarter. 42.89% of the stock is currently owned by institutional investors.

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.