Stock Repurchase Program Announced by Taboola.com (NASDAQ:TBLA)

Taboola.com (NASDAQ:TBLA) announced that its board has authorized a stock repurchase plan on Wednesday, February 26th, RTT News reports. The company plans to repurchase $200.00 million in shares. This repurchase authorization authorizes the company to purchase up to 22.2% of its shares through open market purchases. Shares repurchase plans are typically an indication that the company’s management believes its stock is undervalued.

Wall Street Analyst Weigh In

Several equities research analysts have weighed in on TBLA shares. Oppenheimer reaffirmed a “market perform” rating on shares of Taboola.com in a research note on Wednesday. B. Riley downgraded shares of Taboola.com from a “buy” rating to a “neutral” rating and decreased their price target for the company from $5.00 to $4.00 in a research note on Thursday. Citizens Jmp downgraded shares of Taboola.com from an “outperform” rating to a “market perform” rating in a research note on Thursday. JMP Securities decreased 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 research note on Monday, January 27th. Finally, Benchmark reissued a “buy” rating and set a $5.00 target price on shares of Taboola.com in a research report on Tuesday. Three investment analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $4.50.

Taboola.com Trading Down 3.2 %

NASDAQ:TBLA opened at $2.73 on Friday. 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 50-day moving average of $3.70 and a 200-day moving average of $3.54. The company has a market cap of $797.15 million, a PE ratio of -27.30 and a beta of 1.27. Taboola.com has a one year low of $2.69 and a one year high of $4.76.

Insider Transactions at Taboola.com

In other news, Director Zvi Limon purchased 168,506 shares of the business’s stock in a transaction that occurred on Thursday, February 27th. The shares were acquired at an average cost of $2.93 per share, for a total transaction of $493,722.58. Following the completion of the acquisition, the director now owns 2,987,383 shares in the company, valued at $8,753,032.19. This trade represents a 5.98 % increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Adam Singolda purchased 60,229 shares of the business’s stock in a transaction that occurred on Friday, February 28th. The shares were purchased at an average price of $2.72 per share, for a total transaction of $163,822.88. Following the completion of the acquisition, the chief executive officer now owns 14,462,943 shares of the company’s stock, valued at $39,339,204.96. The trade was a 0.42 % increase in their position. The disclosure for this purchase can be found here. 22.40% of the stock is currently owned by insiders.

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.