Needham & Company LLC Has Lowered Expectations for Taboola.com (NASDAQ:TBLA) Stock Price

Taboola.com (NASDAQ:TBLA) had its price target cut by equities research analysts at Needham & Company LLC from $5.50 to $4.00 in a research note issued to investors on Thursday, Benzinga reports. The firm currently has a “buy” rating on the stock. Needham & Company LLC‘s price target suggests a potential upside of 100.00% from the stock’s current price.

A number of other research analysts have also recently issued reports on TBLA. TD Cowen lowered their price objective on Taboola.com from $6.00 to $5.00 and set a “buy” rating for the company in a research note on Monday, August 10th. Benchmark reduced their price target on Taboola.com from $6.50 to $5.50 and set a “buy” rating for the company in a report on Thursday, August 6th. Rosenblatt Securities reissued a “buy” rating and set a $7.00 price objective on shares of Taboola.com in a research report on Thursday, August 6th. Weiss Ratings downgraded Taboola.com from a “hold (c+)” rating to a “hold (c)” rating in a research note on Monday, October 12th. Finally, Wall Street Zen lowered Taboola.com from a “strong-buy” rating to a “hold” rating in a research report on Saturday, August 8th. Three investment analysts have rated the stock with a Buy rating and four have issued a Hold rating to the company’s stock. Based on data from MarketBeat.com, Taboola.com currently has an average rating of “Hold” and an average target price of $4.33.

Taboola.com Trading Down 7.8%

Shares of NASDAQ TBLA traded down $0.17 during midday trading on Thursday, hitting $2.00. 3,750,586 shares of the company traded hands, compared to its average volume of 1,526,867. Taboola.com has a 12-month low of $1.99 and a 12-month high of $5.71. The firm has a market cap of $504.24 million, a P/E ratio of 4.55 and a beta of 1.48. The stock has a 50-day moving average price of $3.46 and a 200 day moving average price of $3.97. The company has a debt-to-equity ratio of 0.08, a quick ratio of 1.11 and a current ratio of 1.11.

Institutional Investors Weigh In On Taboola.com

A number of institutional investors and hedge funds have recently added to or reduced their stakes in TBLA. State Street Corp lifted its holdings in Taboola.com by 355.0% in the 2nd quarter. State Street Corp now owns 3,944,961 shares of the company’s stock worth $19,725,000 after purchasing an additional 3,077,973 shares in the last quarter. Arrowstreet Capital Limited Partnership raised its position in shares of Taboola.com by 14.3% during the first quarter. Arrowstreet Capital Limited Partnership now owns 1,719,172 shares of the company’s stock valued at $5,329,000 after buying an additional 214,758 shares during the last quarter. Globeflex Capital L P lifted its holdings in shares of Taboola.com by 16.4% in the first quarter. Globeflex Capital L P now owns 1,907,015 shares of the company’s stock worth $5,912,000 after buying an additional 268,105 shares in the last quarter. Hsbc Holdings PLC purchased a new position in shares of Taboola.com in the fourth quarter worth $887,000. Finally, Prescott Group Capital Management L.L.C. bought a new position in shares of Taboola.com during the third quarter worth $1,709,000. Institutional investors own 42.89% of the company’s stock.

Taboola.com News Summary

Here are the key news stories impacting Taboola.com this week:

• Positive Sentiment: Taboola reported third-quarter revenue of $462.3 million, while adjusted EBITDA increased 16%. The company also cited expansion of publisher partnerships. Taboola reports Q3 revenue and adjusted EBITDA growth
• Positive Sentiment: Taboola forecast fourth-quarter revenue of $477 million to $493 million, indicating it expects revenue to rise from the third-quarter level. Taboola Q4 revenue outlook
• Neutral Sentiment: Needham lowered its price target to $4 from $5.50 but maintained a Buy rating. Rosenblatt cut its rating to Neutral from Buy, while setting a $2.80 target. Analyst ratings and price targets
• Negative Sentiment: Stonex Financial downgraded Taboola from Strong Buy to Hold, adding to concerns about analyst sentiment and potentially contributing to pressure on the shares. Stonex Financial recommendations

About Taboola.com

Taboola.com Ltd. is a technology company that operates a digital advertising and content-discovery platform. Its technology uses data and machine learning to recommend articles, videos, products and other content to users across publisher websites, mobile applications and digital devices.

Taboola provides publishers with tools to increase audience engagement and generate revenue, including recommendation modules, personalized content feeds, video solutions and commerce-related discovery products.