Taboola.com (NASDAQ:TBLA) Hits New 52-Week High – Here’s What Happened

Taboola.com Ltd. (NASDAQ:TBLA) shares hit a new 52-week high during trading on Tuesday . The stock traded as high as $5.55 and last traded at $5.53, with a volume of 5263859 shares. The stock had previously closed at $5.14.

Analyst Ratings Changes

A number of research firms have weighed in on TBLA. Needham & Company LLC increased their target price on Taboola.com from $4.50 to $5.50 and gave the company a “buy” rating in a report on Thursday, May 7th. Weiss Ratings restated a “hold (c)” rating on shares of Taboola.com in a research note on Tuesday, April 21st. TD Cowen upped their price target on shares of Taboola.com from $4.00 to $6.00 and gave the company a “buy” rating in a research report on Monday, May 11th. Benchmark increased their price objective on shares of Taboola.com from $4.50 to $6.50 and gave the stock a “buy” rating in a research note on Thursday, May 7th. Finally, Wall Street Zen raised shares of Taboola.com from a “buy” rating to a “strong-buy” rating in a report on Saturday, May 9th. Five research analysts have rated the stock with a Buy rating and three have issued a Hold rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $5.90.

Taboola.com Price Performance

The company has a quick ratio of 1.13, a current ratio of 1.13 and a debt-to-equity ratio of 0.07. The stock has a market cap of $1.35 billion, a P/E ratio of 14.55 and a beta of 1.50. The firm has a 50 day moving average price of $4.76 and a 200 day moving average price of $4.05.

Taboola.com (NASDAQ:TBLA) last announced its quarterly earnings data on Wednesday, May 6th. The company reported $0.20 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.01) by $0.21. The company had revenue of $466.39 million during the quarter, compared to the consensus estimate of $453.30 million. Taboola.com had a return on equity of 10.72% and a net margin of 5.64%.The firm’s revenue was up 9.1% on a year-over-year basis. During the same period in the previous year, the company posted ($0.03) EPS. On average, analysts forecast that Taboola.com Ltd. will post 0.41 EPS for the current fiscal year.

Insider Activity at Taboola.com

In other news, major shareholder Apollo Management Holdings Gp, sold 12,000,000 shares of the business’s stock in a transaction dated Thursday, May 28th. The stock was sold at an average price of $4.40, for a total value of $52,800,000.00. Following the transaction, the insider directly owned 18,039,644 shares in the company, valued at $79,374,433.60. The trade was a 39.95% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. 20.60% of the stock is owned by insiders.

Institutional Trading of Taboola.com

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. Abacus Wealth Partners LLC purchased a new position in Taboola.com in the 4th quarter worth approximately $48,000. Headlands Technologies LLC bought a new position in Taboola.com in the 2nd quarter worth approximately $43,000. DGS Capital Management LLC purchased a new stake in Taboola.com during the 4th quarter valued at approximately $55,000. Quarry LP purchased a new stake in Taboola.com during the 3rd quarter valued at approximately $42,000. Finally, Captrust Financial Advisors bought a new stake in shares of Taboola.com during the second quarter valued at approximately $46,000. Institutional investors own 42.89% of the company’s stock.

Taboola.com Company Profile

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.