Taboola.com (NASDAQ:TBLA) Given New $4.00 Price Target at Needham & Company LLC

Taboola.com (NASDAQ:TBLA) had its target price trimmed by Needham & Company LLC from $5.00 to $4.00 in a report released on Thursday,Benzinga reports. The firm currently has a buy rating on the stock.

A number of other brokerages have also issued reports on TBLA. B. Riley lowered Taboola.com from a “buy” rating to a “neutral” rating and cut their price target for the stock from $5.00 to $4.00 in a research note on Thursday. Oppenheimer reaffirmed a “market perform” rating on shares of Taboola.com in a report on Wednesday. Citizens Jmp downgraded shares of Taboola.com from an “outperform” rating to a “market perform” rating in a report on Thursday. Benchmark reaffirmed a “buy” rating and issued a $5.00 price target on shares of Taboola.com in a report on Tuesday. Finally, JMP Securities lowered their price target on shares of Taboola.com from $6.00 to $5.00 and set a “market outperform” rating for the company in a report on Monday, January 27th. Three investment analysts have rated the stock with a hold rating and three have given a buy rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $4.80.

Taboola.com Trading Down 8.7 %

NASDAQ:TBLA opened at $2.82 on Thursday. 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 has a market capitalization of $823.43 million, a price-to-earnings ratio of -28.20 and a beta of 1.27. Taboola.com has a one year low of $2.82 and a one year high of $4.96. The business has a fifty day moving average price of $3.72 and a 200-day moving average price of $3.54.

Taboola.com announced that its board has authorized a share buyback program on Wednesday, February 26th that permits the company to repurchase $200.00 million in outstanding shares. This repurchase authorization permits the company to purchase up to 22.2% of its shares through open market purchases. Shares repurchase programs are often a sign that the company’s board of directors believes its stock is undervalued.

Hedge Funds Weigh In On Taboola.com

A number of institutional investors have recently modified their holdings of TBLA. Meitav Investment House Ltd. increased its position in shares of Taboola.com by 11.3% during the third quarter. Meitav Investment House Ltd. now owns 69,000 shares of the company’s stock worth $242,000 after acquiring an additional 7,000 shares during the period. ARK Investment Management LLC increased its position in shares of Taboola.com by 9.2% during the third quarter. ARK Investment Management LLC now owns 594,590 shares of the company’s stock worth $1,998,000 after acquiring an additional 50,256 shares during the period. GSA Capital Partners LLP increased its position in shares of Taboola.com by 11.6% during the third quarter. GSA Capital Partners LLP now owns 814,598 shares of the company’s stock worth $2,737,000 after acquiring an additional 84,382 shares during the period. Aigen Investment Management LP purchased a new position in shares of Taboola.com during the third quarter worth approximately $63,000. Finally, Intellectus Partners LLC increased its position in shares of Taboola.com by 4.5% during the third quarter. Intellectus Partners LLC now owns 367,668 shares of the company’s stock worth $1,235,000 after acquiring an additional 16,000 shares during the period. 42.89% of the stock is owned by hedge funds and other 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.