Taboola.com (NASDAQ:TBLA) Sees Large Volume Increase – Time to Buy?

Taboola.com Ltd. (NASDAQ:TBLA) shares saw strong trading volume on Thursday . 1,666,339 shares traded 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.

Wall Street Analysts Forecast Growth

TBLA has been the subject of several recent research reports. Needham & Company LLC lowered their price target on Taboola.com from $5.00 to $4.00 and set a “buy” rating for the company in a research note on Thursday. JMP Securities decreased their target price on shares of Taboola.com from $6.00 to $5.00 and set a “market outperform” rating for the company in a research report on Monday, January 27th. Oppenheimer restated a “market perform” rating on shares of Taboola.com in a research note on Wednesday. Citizens Jmp lowered shares of Taboola.com from an “outperform” rating to a “market perform” rating in a research note on Thursday. Finally, Benchmark reiterated a “buy” rating and issued a $5.00 price objective on shares of Taboola.com in a report on Tuesday. Three equities research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, Taboola.com currently has an average rating of “Moderate Buy” and a consensus price target of $4.80.

Taboola.com Price Performance

The stock’s 50 day moving average price is $3.74 and its two-hundred day moving average price is $3.55. 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 announced that its board has initiated a share buyback plan on Wednesday, February 26th that permits the company to buyback $200.00 million in shares. This buyback authorization permits the company to purchase up to 22.2% of its stock through open market purchases. Stock buyback plans are usually a sign that the company’s board of directors believes its shares are undervalued.

Hedge Funds Weigh In On Taboola.com

A number of institutional investors have recently made changes to their positions in the business. JPMorgan Chase & Co. boosted its stake in Taboola.com by 54.7% during the 3rd quarter. JPMorgan Chase & Co. now owns 727,181 shares of the company’s stock valued at $2,443,000 after purchasing an additional 257,009 shares during the period. Empowered Funds LLC boosted its position in shares of Taboola.com by 410.5% in the fourth quarter. Empowered Funds LLC now owns 512,422 shares of the company’s stock valued at $1,870,000 after acquiring an additional 412,042 shares during the period. Harbor Capital Advisors Inc. grew its stake in shares of Taboola.com by 22.6% in the fourth quarter. Harbor Capital Advisors Inc. now owns 33,051 shares of the company’s stock worth $121,000 after acquiring an additional 6,094 shares during the last quarter. Barclays PLC increased its position in Taboola.com by 1,218.5% during the third quarter. Barclays PLC now owns 36,431 shares of the company’s stock worth $122,000 after acquiring an additional 33,668 shares during the period. Finally, State Street Corp raised its stake in Taboola.com by 5.5% during the 3rd quarter. State Street Corp now owns 305,350 shares of the company’s stock valued at $1,026,000 after purchasing an additional 16,055 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.