Taboola.com (NASDAQ:TBLA) Hits New 1-Year High – Here’s Why

Taboola.com Ltd. (NASDAQ:TBLA) shares reached a new 52-week high on Wednesday . The stock traded as high as $5.26 and last traded at $5.16, with a volume of 2940364 shares traded. The stock had previously closed at $5.13.

Wall Street Analysts Forecast Growth

Several research firms recently weighed in on TBLA. Benchmark boosted their target price on Taboola.com from $4.50 to $6.50 and gave the stock a “buy” rating in a report on Thursday, May 7th. Needham & Company LLC boosted their target price on Taboola.com from $4.50 to $5.50 and gave the stock a “buy” rating in a report on Thursday, May 7th. Rosenblatt Securities boosted their target price on Taboola.com from $6.00 to $7.00 and gave the stock a “buy” rating in a report on Thursday, February 26th. Weiss Ratings restated a “hold (c)” rating on shares of Taboola.com in a report on Tuesday, April 21st. Finally, Wall Street Zen upgraded 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 company. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $5.90.

Taboola.com Price Performance

The company has a debt-to-equity ratio of 0.07, a current ratio of 1.13 and a quick ratio of 1.13. The stock’s fifty day simple moving average is $3.61 and its 200-day simple moving average is $3.80. The company has a market capitalization of $1.20 billion, a P/E ratio of 13.03 and a beta of 1.43.

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, topping the consensus estimate of ($0.01) by $0.21. The business had revenue of $466.40 million for the quarter, compared to the consensus estimate of $453.30 million. Taboola.com had a net margin of 5.64% and a return on equity of 10.72%. Taboola.com’s quarterly revenue was up 9.1% on a year-over-year basis. During the same quarter last year, the company posted ($0.03) earnings per share. On average, equities analysts forecast that Taboola.com Ltd. will post 0.34 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Taboola.com

Several hedge funds and other institutional investors have recently modified their holdings of the stock. Arrowstreet Capital Limited Partnership increased its stake in 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 acquiring an additional 214,758 shares during the period. Globeflex Capital L P increased its stake in Taboola.com by 16.4% during the first quarter. Globeflex Capital L P now owns 1,907,015 shares of the company’s stock valued at $5,912,000 after acquiring an additional 268,105 shares during the period. State of Wyoming increased its stake in Taboola.com by 185.3% during the first quarter. State of Wyoming now owns 103,072 shares of the company’s stock valued at $320,000 after acquiring an additional 66,947 shares during the period. Bank of New York Mellon Corp increased its stake in Taboola.com by 27.6% during the first quarter. Bank of New York Mellon Corp now owns 93,199 shares of the company’s stock valued at $289,000 after acquiring an additional 20,159 shares during the period. Finally, Hsbc Holdings PLC increased its stake in Taboola.com by 31.9% during the first quarter. Hsbc Holdings PLC now owns 252,624 shares of the company’s stock valued at $783,000 after acquiring an additional 61,150 shares during the period. Institutional investors and hedge funds own 42.89% of the company’s stock.

About Taboola.com

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.