Oppenheimer Starts Taboola (TBLA) at Outperform

August 2, 2021 4:08 PM EDT
Get Alerts TBLA Hot Sheet
Price: $8.83 +0.68%

Rating Summary:
    6 Buy, 0 Hold, 0 Sell

Rating Trend: = Flat

Today's Overall Ratings:
    Up: 9 | Down: 9 | New: 34
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Oppenheimer analyst Jason Helfstein initiates coverage on Taboola (NASDAQ: TBLA) with a Outperform rating and a price target of $14.00.

The analyst comments "Initiating coverage of Taboola Ltd. (TBLA) with an Outperform rating and 12-18 month price target of $14, implying 50% upside. As a leader in contextual targeting, we believe Taboola is well positioned to grow its share of the $78B+ Open Web market, as we anticipate the future removal of third-party cookies will drive contextual adoption. The company has a history outspending peers in developing its recommendation technology, which has driven higher yields and longer exclusive contracts with its largest publisher clients, which should continue as the company expands outside its core desktop/mobile offering into AVOD/CTV. While growing ’20-22E gross profit 9% faster than peers, TBLA trades at a 60% discount, which we believe will narrow on contextual adoption tailwinds and non-core product expansion."

For an analyst ratings summary and ratings history on Taboola click here. For more ratings news on Taboola click here.

Shares of Taboola closed at $9.36 yesterday.

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