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Finance

What’s Taboola’s (TBLA) Stock Forecast After Going Public?

Taboola said that 13,000 advertisers use its network to reach half a billion daily active users on over 9,000 publishers sites. In the first quarter of 2021, the company’s revenue increased by 8 percent YoY to $303 million and outperformed its own projections by $17 million. Taboola’s ex-TAC gross profit (which excludes traffic acquisition expenses paid to publishers) increased by 54 percent to $106 million. The advertising company reported a net income of $18.6 million in the first quarter compared to a net loss of $23.9 million a year ago.

Taboola estimates the open web market to be around $64 billion last year, which presents a significant opportunity. In 2021, the company expects its revenue to increase by 9 percent–10 percent to around $1.3 billion. Taboola expects its ex-TAC gross profit to rise 19 percent–22 percent and its adjusted EBITDA to rise 32 percent–42 percent. The company expects to report revenue and adjusted EBITDA of $1.5 billion and $143 million in 2022, respectively.

Taboola stock looks like a good buy based on the company’s growth outlook and attractive valuation. At almost 39 percent below its peak, the stock gives investors exposure to Taboola at a bargain.

Taboola is the latest in a slew of ad tech companies to go public in recent months, including Viant, PubMatic, and Kubient. On June 30, Taboola’s direct competitor Outbrain filed for an IPO. Outbrain is seeking a $2 billion valuation in the IPO. The company generated revenue of $767 million in 2020.

View more information: https://marketrealist.com/p/taboola-stock-forecast-after-going-public/

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