Taboola.com (NASDAQ:TBLA) Shares Gap Down – Here’s Why

Taboola.com Ltd. (NASDAQ:TBLA)’s stock price gapped down before the market opened on Wednesday . The stock had previously closed at $3.58, but opened at $3.46. Taboola.com shares last traded at $3.59, with a volume of 26,685 shares traded.

Analyst Upgrades and Downgrades

A number of research analysts have issued reports on TBLA shares. Benchmark restated a “buy” rating and set a $5.00 target price on shares of Taboola.com in a research report on Monday, October 7th. Needham & Company LLC restated a “buy” rating and issued a $5.00 price objective on shares of Taboola.com in a report on Friday, November 8th. Four equities research analysts have rated the stock with a buy rating, According to data from MarketBeat, the company has an average rating of “Buy” and an average target price of $5.31.

Taboola.com Price Performance

The company has a debt-to-equity ratio of 0.14, a quick ratio of 1.31 and a current ratio of 1.31. The company has a market capitalization of $1.04 billion, a price-to-earnings ratio of -35.50 and a beta of 1.28. The company has a 50-day moving average price of $3.37 and a 200-day moving average price of $3.46.

Taboola.com (NASDAQ:TBLA) last issued its quarterly earnings data on Thursday, November 7th. The company reported ($0.02) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.02 by ($0.04). The firm had revenue of $433.10 million for the quarter, compared to analyst estimates of $429.43 million. Taboola.com had a negative net margin of 1.96% and a negative return on equity of 1.68%. During the same quarter in the prior year, the firm posted ($0.02) EPS.

Insider Buying and Selling

In other Taboola.com news, Director Richard T. Scanlon sold 250,000 shares of Taboola.com stock in a transaction that occurred on Tuesday, November 19th. The shares were sold at an average price of $3.16, for a total value of $790,000.00. Following the transaction, the director now owns 70,642 shares of the company’s stock, valued at approximately $223,228.72. The trade was a 77.97 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. 22.40% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Taboola.com

Several large investors have recently made changes to their positions in the stock. nVerses Capital LLC boosted its stake in Taboola.com by 74.5% in the 3rd quarter. nVerses Capital LLC now owns 9,600 shares of the company’s stock worth $32,000 after purchasing an additional 4,100 shares during the period. Bayesian Capital Management LP acquired a new position in shares of Taboola.com during the first quarter worth about $61,000. Point72 Asset Management L.P. acquired a new position in shares of Taboola.com during the second quarter worth about $47,000. Aigen Investment Management LP bought a new position in shares of Taboola.com during the third quarter worth about $63,000. Finally, EverSource Wealth Advisors LLC acquired a new stake in Taboola.com in the 2nd quarter valued at approximately $69,000. Institutional investors own 42.89% of the company’s stock.

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.