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

Taboola.com (NASDAQ:TBLA) declared that its Board of Directors has initiated a share repurchase plan on Wednesday, February 26th, RTT News reports. The company plans to repurchase $200.00 million in outstanding shares. This repurchase authorization permits the company to repurchase up to 22.2% of its shares through open market purchases. Shares repurchase plans are typically a sign that the company’s board of directors believes its stock is undervalued.

Taboola.com Stock Performance

Shares of Taboola.com stock opened at $2.73 on Friday. The firm has a market capitalization of $797.15 million, a P/E ratio of -27.30 and a beta of 1.27. The company’s 50 day moving average price is $3.70 and its two-hundred day moving average price is $3.54. The company has a debt-to-equity ratio of 0.14, a current ratio of 1.31 and a quick ratio of 1.31. Taboola.com has a fifty-two week low of $2.69 and a fifty-two week high of $4.76.

Wall Street Analyst Weigh In

A number of research analysts recently issued reports on TBLA shares. JMP Securities decreased their price objective on shares of Taboola.com from $6.00 to $5.00 and set a “market outperform” rating on the stock in a research note on Monday, January 27th. Needham & Company LLC decreased their price objective 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 lowered shares of Taboola.com from an “outperform” rating to a “market perform” rating in a research report on Thursday. Benchmark restated a “buy” rating and issued a $5.00 target price on shares of Taboola.com in a research report on Tuesday. Finally, Oppenheimer restated a “market perform” rating on shares of Taboola.com in a research report on Wednesday. Three equities research 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 price target of $4.50.

Insider Transactions at Taboola.com

In other Taboola.com news, CEO Adam Singolda purchased 60,229 shares of the business’s stock in a transaction dated Friday, February 28th. The shares were bought 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 in the company, valued at approximately $39,339,204.96. This trade represents a 0.42 % increase in their ownership of the stock. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Director Zvi Limon purchased 168,506 shares of the business’s stock in a transaction dated Thursday, February 27th. The shares were acquired at an average price of $2.93 per share, for a total transaction of $493,722.58. Following the acquisition, the director now owns 2,987,383 shares of the company’s stock, valued at $8,753,032.19. This trade represents a 5.98 % increase in their position. The disclosure for this purchase can be found here. 22.40% of the stock is owned by company 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.