Taboola.com (NASDAQ:TBLA) Sees Strong Trading Volume – What’s Next?

Shares of Taboola.com Ltd. (NASDAQ:TBLA) saw unusually-strong trading volume on Thursday . Approximately 1,666,339 shares changed hands during trading, an increase of 70% from the previous session’s volume of 977,954 shares.The stock last traded at $2.95 and had previously closed at $3.09.

Analysts Set New Price Targets

Several equities analysts have commented on the company. Oppenheimer reaffirmed a “market perform” rating on shares of Taboola.com in a report on Wednesday. JMP Securities cut their target price on Taboola.com from $6.00 to $5.00 and set a “market outperform” rating for the company in a research note on Monday, January 27th. Needham & Company LLC decreased their price target on shares of Taboola.com from $5.00 to $4.00 and set a “buy” rating on the stock in a research note on Thursday. Citizens Jmp cut shares of Taboola.com from an “outperform” rating to a “market perform” rating in a research note on Thursday. Finally, B. Riley downgraded shares of Taboola.com from a “buy” rating to a “neutral” rating and reduced their price objective for the stock from $5.00 to $4.00 in a report on Thursday. Three investment analysts have rated the stock with a hold rating and three have issued a buy rating to the company’s stock. According to MarketBeat, Taboola.com currently has a consensus rating of “Moderate Buy” and a consensus target price of $4.80.

Taboola.com Stock Down 8.7 %

The company has a quick ratio of 1.31, a current ratio of 1.31 and a debt-to-equity ratio of 0.14. The business has a 50-day simple moving average of $3.74 and a two-hundred day simple moving average of $3.55. The stock has a market capitalization of $823.43 million, a P/E ratio of -28.20 and a beta of 1.27.

Taboola.com announced that its board has authorized a stock 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 buy up to 22.2% of its shares through open market purchases. Shares repurchase programs are often an indication that the company’s board believes its shares are undervalued.

Hedge Funds Weigh In On Taboola.com

Institutional investors have recently added to or reduced their stakes in the company. Aigen Investment Management LP bought a new stake in Taboola.com during the third quarter worth about $63,000. Wolverine Trading LLC boosted its holdings in shares of Taboola.com by 98.4% in the 4th quarter. Wolverine Trading LLC now owns 17,063 shares of the company’s stock worth $63,000 after acquiring an additional 8,463 shares in the last quarter. R Squared Ltd bought a new stake in Taboola.com during the 4th quarter worth approximately $68,000. Virtu Financial LLC acquired a new stake in Taboola.com during the 4th quarter valued at $81,000. Finally, Aquatic Capital Management LLC bought a new position in Taboola.com in the 4th quarter valued at $103,000. 42.89% of the stock is owned by institutional investors.

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.