Stock Buyback Program Approved by Taboola.com (NASDAQ:TBLA)

Taboola.com (NASDAQ:TBLA) announced that its board has authorized a share repurchase program on Wednesday, February 26th, RTT News reports. The company plans to buyback $200.00 million in shares. This buyback authorization authorizes the company to reacquire up to 22.2% of its stock through open market purchases. Stock buyback programs are usually an indication that the company’s leadership believes its shares are undervalued.

Analyst Upgrades and Downgrades

A number of research analysts have recently issued reports on the company. Needham & Company LLC cut their price target on Taboola.com from $5.00 to $4.00 and set a “buy” rating on the stock in a report on Thursday. B. Riley lowered Taboola.com from a “buy” rating to a “neutral” rating and cut their target price for the company from $5.00 to $4.00 in a research note on Thursday. Benchmark reiterated a “buy” rating and issued a $5.00 target price on shares of Taboola.com in a report on Tuesday. JMP Securities lowered their price target on shares of Taboola.com from $6.00 to $5.00 and set a “market outperform” rating on the stock in a report on Monday, January 27th. Finally, Citizens Jmp downgraded shares of Taboola.com from an “outperform” rating to a “market perform” rating in a research report on Thursday. Three analysts have rated the stock with a hold rating and three have issued a buy rating to the company. According to MarketBeat.com, Taboola.com has a consensus rating of “Moderate Buy” and a consensus target price of $4.80.

Taboola.com Trading Down 8.7 %

Shares of NASDAQ:TBLA opened at $2.82 on Friday. The business’s 50-day moving average is $3.72 and its 200 day moving average is $3.54. The company has a debt-to-equity ratio of 0.14, a current ratio of 1.31 and a quick ratio of 1.31. Taboola.com has a 1 year low of $2.82 and a 1 year high of $4.96. The firm has a market capitalization of $823.43 million, a P/E ratio of -28.20 and a beta of 1.27.

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.