Taboola's Fiscal 2024 Revenue and Earnings Estimates Cut by This Analyst Despite Strong Q2 Projections - Here's Why
Portfolio Pulse from Anusuya Lahiri
Needham analyst Laura Martin maintained a Buy rating on Taboola.com Ltd (NASDAQ:TBLA) but lowered the price target from $6 to $5. Despite strong Q2 projections, Martin reduced her revenue and earnings estimates for the second half of fiscal 2024 and fiscal 2025 due to integration delays with Yahoo's demand side. TBLA shares are trading lower by 4.18% at $3.33.
July 05, 2024 | 6:16 pm
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Needham analyst Laura Martin maintained a Buy rating on Taboola.com Ltd (NASDAQ:TBLA) but lowered the price target from $6 to $5. Despite strong Q2 projections, Martin reduced her revenue and earnings estimates for the second half of fiscal 2024 and fiscal 2025 due to integration delays with Yahoo's demand side. TBLA shares are trading lower by 4.18% at $3.33.
The analyst's decision to lower the price target and reduce revenue and earnings estimates for the second half of fiscal 2024 and fiscal 2025 indicates potential challenges ahead for Taboola. The integration delays with Yahoo's demand side are a significant factor, leading to a negative short-term impact on the stock price.
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