Taboola.com (NASDAQ:TBLA – Get Free Report)‘s stock had its “buy” rating restated by Rosenblatt Securities in a research note issued to investors on Thursday,Benzinga reports. They presently have a $7.00 price target on the stock. Rosenblatt Securities’ price objective suggests a potential upside of 70.73% from the company’s current price.
TBLA has been the topic of a number of other reports. Needham & Company LLC increased their price target on shares of Taboola.com from $4.50 to $5.50 and gave the stock a “buy” rating in a report on Thursday, May 7th. Zacks Research cut shares of Taboola.com from a “strong-buy” rating to a “hold” rating in a report on Monday, April 27th. Weiss Ratings reissued a “hold (c)” rating on shares of Taboola.com in a research note on Friday, July 17th. Wall Street Zen upgraded shares of Taboola.com from a “buy” rating to a “strong-buy” rating in a research report on Saturday, May 9th. Finally, Benchmark increased their price objective on shares of Taboola.com from $4.50 to $6.50 and gave the company a “buy” rating in a report on Thursday, May 7th. Four research analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $6.00.
View Our Latest Stock Analysis on TBLA
Taboola.com Stock Performance
Taboola.com (NASDAQ:TBLA – Get Free Report) last posted its quarterly earnings results on Wednesday, May 6th. The company reported $0.20 earnings per share for the quarter, beating the consensus estimate of ($0.01) by $0.21. The business had revenue of $466.39 million for the quarter, compared to the consensus estimate of $453.30 million. Taboola.com had a return on equity of 12.15% and a net margin of 6.05%.The company’s quarterly revenue was up 9.1% compared to the same quarter last year. During the same quarter in the previous year, the business earned ($0.03) EPS. As a group, research analysts expect that Taboola.com will post 0.41 earnings per share for the current year.
Insiders Place Their Bets
In related news, major shareholder Apollo Management Holdings Gp, sold 12,000,000 shares of Taboola.com stock in a transaction that occurred on Thursday, May 28th. The stock was sold at an average price of $4.40, for a total transaction of $52,800,000.00. Following the transaction, the insider owned 18,039,644 shares in the company, valued at approximately $79,374,433.60. This trade represents a 39.95% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through this link. 20.60% of the stock is owned by company insiders.
Hedge Funds Weigh In On Taboola.com
Hedge funds have recently modified their holdings of the business. Hennion & Walsh Asset Management Inc. increased its position in shares of Taboola.com by 27.7% during the 2nd quarter. Hennion & Walsh Asset Management Inc. now owns 29,074 shares of the company’s stock worth $145,000 after purchasing an additional 6,302 shares during the last quarter. Baron Wealth Management LLC lifted its stake in Taboola.com by 173.3% during the 2nd quarter. Baron Wealth Management LLC now owns 31,715 shares of the company’s stock worth $159,000 after acquiring an additional 20,111 shares in the last quarter. Atreides Management LP lifted its stake in Taboola.com by 11.2% during the 1st quarter. Atreides Management LP now owns 820,797 shares of the company’s stock worth $2,544,000 after acquiring an additional 82,587 shares in the last quarter. Amundi purchased a new position in Taboola.com during the 1st quarter valued at about $142,000. Finally, Empowered Funds LLC grew its position in Taboola.com by 3.9% in the 1st quarter. Empowered Funds LLC now owns 1,483,014 shares of the company’s stock valued at $4,597,000 after acquiring an additional 55,536 shares in the last quarter. 42.89% of the stock is currently owned by hedge funds and other institutional investors.
About Taboola.com
Taboola.com (NASDAQ: TBLA) operates a leading content discovery platform that connects advertisers with premium publishers through native advertising and personalized recommendations. The company’s technology analyzes user behavior and contextual information to deliver promoted content, video, and product recommendations to audiences across a network of thousands of websites and mobile apps. By leveraging machine learning and big data, Taboola helps publishers generate incremental revenue while enabling advertisers to reach engaged users at scale.
Taboola’s suite of products includes feed placements, video recommendations, and sponsored content units designed to blend seamlessly with editorial pages.
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