Fintel reports that on July 21, 2023, Needham reiterated coverage of Taboola.com (NASDAQ:TBLA) with a Buy recommendation.
Analyst Price Forecast Suggests 62.66% Upside
As of July 6, 2023, the average one-year price target for Taboola.com is 5.27. The forecasts range from a low of 3.54 to a high of $6.30. The average price target represents an increase of 62.66% from its latest reported closing price of 3.24.
See our leaderboard of companies with the largest price target upside.
The projected annual revenue for Taboola.com is 1,455MM, an increase of 5.89%. The projected annual non-GAAP EPS is 0.27.
What is the Fund Sentiment?
There are 124 funds or institutions reporting positions in Taboola.com. This is an increase of 9 owner(s) or 7.83% in the last quarter. Average portfolio weight of all funds dedicated to TBLA is 0.61%, a decrease of 23.85%. Total shares owned by institutions increased in the last three months by 6.91% to 96,978K shares. 
The put/call ratio of TBLA is 0.10, indicating a bullish outlook.
What are Other Shareholders Doing?
Evergreen Venture Partners holds 24,275K shares representing 7.07% ownership of the company. No change in the last quarter.
Wellington Management Group Llp holds 13,554K shares representing 3.95% ownership of the company. In it's prior filing, the firm reported owning 9,315K shares, representing an increase of 31.27%. The firm decreased its portfolio allocation in TBLA by 82.08% over the last quarter.
Invus Financial Advisors holds 9,969K shares representing 2.91% ownership of the company. In it's prior filing, the firm reported owning 7,820K shares, representing an increase of 21.56%. The firm increased its portfolio allocation in TBLA by 37.82% over the last quarter.
Phoenix Holdings holds 4,752K shares representing 1.38% ownership of the company. No change in the last quarter.
Migdal Insurance & Financial Holdings holds 3,063K shares representing 0.89% ownership of the company. No change in the last quarter.
Taboola.com Background Information
(This description is provided by the company.)
Taboola powers recommendations for the open web, helping people discover things they may like. The company’s platform, powered by artificial intelligence, is used by digital properties, including websites, devices and mobile apps, to drive monetization and user engagement. Taboola has long-term partnerships with some of the top digital properties in the world, including CNBC, BBC, NBC News, Business Insider, The Independent and El Mundo. More than 14,000 advertisers use Taboola to reach over 500 million daily active users in a brand-safe environment. Following the acquisition of Connexity in 2021, Taboola is a leader in powering e-commerce recommendations, driving more than 1 million monthly transactions each month. Leading brands including Walmart, Macy’s, Wayfair, Skechers and eBay are among key customers.
Additional reading:
- Taboola Beats Guidance in Q1 On All Metrics; Raises Mid-point for 2023; Announcing Up to $40M Buyback and $50M Debt Repayment
- Q1 2023
- INVESTOR PRESENTATION TODAY’S PRESENTERS ADAM SINGOLDA FOUNDER & CEO STEPHEN WALKER CFO Founded Taboola over 15 years ago Has led the company as its CEO ever since 8+ years at Taboola Led several of Idealab's portfolio companies, including Perfect Ma
- Q1 2023 Earnings Call
- Employment Agreement, dated April 20, 2017, by and between Taboola, Inc. and Adam Singolda
This story originally appeared on Fintel.
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
