Taboola.com (NASDAQ:TBLA) Stock Rating Lowered by Rosenblatt Securities

Taboola.com (NASDAQ:TBLA) was downgraded by research analysts at Rosenblatt Securities from a “buy” rating to a “neutral” rating in a research note issued to investors on Thursday, Marketbeat.com reports. They presently have a $2.80 price target on the stock. Rosenblatt Securities‘s target price indicates a potential upside of 40.00% from the stock’s previous close.

Other analysts also recently issued research reports about the company. Weiss Ratings downgraded Taboola.com from a “hold (c+)” rating to a “hold (c)” rating in a report on Monday, October 12th. TD Cowen decreased their target price on shares of Taboola.com from $6.00 to $5.00 and set a “buy” rating for the company in a report on Monday, August 10th. Benchmark dropped their target price on shares of Taboola.com from $6.50 to $5.50 and set a “buy” rating on the stock in a research report on Thursday, August 6th. Needham & Company LLC cut their price target on shares of Taboola.com from $5.50 to $4.00 and set a “buy” rating on the stock in a report on Thursday. Finally, Wall Street Zen lowered shares of Taboola.com from a “strong-buy” rating to a “hold” rating in a report on Saturday, August 8th. Three research analysts have rated the stock with a Buy rating and four have issued a Hold rating to the company. According to MarketBeat.com, Taboola.com currently has a consensus rating of “Hold” and an average price target of $4.33.

Taboola.com Price Performance

Shares of NASDAQ TBLA traded down $0.17 during mid-day trading on Thursday, reaching $2.00. The company had a trading volume of 3,750,586 shares, compared to its average volume of 1,526,867. The company has a 50-day moving average price of $3.46 and a two-hundred day moving average price of $3.97. The stock has a market cap of $504.24 million, a PE ratio of 4.55 and a beta of 1.48. The company has a current ratio of 1.11, a quick ratio of 1.11 and a debt-to-equity ratio of 0.08. Taboola.com has a 1-year low of $1.99 and a 1-year high of $5.71.

Institutional Investors Weigh In On Taboola.com

Several hedge funds have recently bought and sold shares of the business. AlpInvest Partners B.V. boosted its position in Taboola.com by 101.2% during the 3rd quarter. AlpInvest Partners B.V. now owns 808,951 shares of the company’s stock worth $2,718,000 after acquiring an additional 406,941 shares during the period. Russell Investments Group Ltd. lifted its position in shares of Taboola.com by 321.3% in the third quarter. Russell Investments Group Ltd. now owns 408,567 shares of the company’s stock worth $1,386,000 after purchasing an additional 311,585 shares in the last quarter. Commonwealth Equity Services LLC purchased a new stake in shares of Taboola.com in the third quarter worth approximately $128,000. Prescott Group Capital Management L.L.C. purchased a new stake in shares of Taboola.com in the third quarter worth approximately $1,709,000. Finally, Mirae Asset Global Investments Co. Ltd. acquired a new stake in shares of Taboola.com during the third quarter worth approximately $159,000. 42.89% of the stock is owned by hedge funds and other institutional investors.

Taboola.com News Roundup

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.