New York-based advertising firm Taboola.com (TBLA) has been selected by news and content curation service LINE Today Hong Kong to power ad module recommendations by utilizing Taboola’s innovations throughout the LINE Today Hong Kong home page and articles.
Taboola offers advertisements like “Recommended For You” and “Around the Web” boxes at the bottom of news articles published online. Shares of the company closed 1.1% lower at $8.78 on Friday. (See Taboola stock chart on TipRanks)
The SVP of LINE Plus Corp., Hyunbin Kang, said, “Taboola’s team, technology and its expertise in recommendations made it the best choice for powering recommendations for our users in Hong Kong.”
Last month, Credit Suisse analyst Stephen Ju initiated coverage on Taboola with a Buy rating and a price target of $14 (59.5% upside potential).
In a research note to investors, the analyst said, “The recent $800 million Connexity acquisition helps to onboard e-commerce operators and retailers to give them access to Taboola’s inventory and will speed up the company’s share gains into $35 billion in potential media spend.”
“As Taboola’s core product is the ability to recommend content, there remains the potential for the company to experience a greater proliferation of its services into other forms of media, including connected TVs for video,” Ju added.
Overall, the stock has a Strong Buy consensus rating based on 5 unanimous Buys. The average Taboola.com price target of $14.60 implies 66.3% upside potential. Shares of the company have lost 24.6% year-to-date.
According to TipRanks’ Smart Score rating system, Taboola scores a 9 out of 10, suggesting that the stock is likely to outperform market averages.
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