Canopy Growth stock tumbles after announcing $200 million share sale plan
Despite the lowered price target, JMP Securities believes that the addition of Yahoo to Taboola's revenue stream in 2024 sets a challenging comparison for 2025, leading them to predict a substantial slowdown in growth for the year ahead. Nevertheless, they point out that Taboola's current valuation, at approximately 6 times JMP Securities' 2024 EBITDA estimates, provides a reason to remain positive on the stock.The firm's stance is buoyed by the value proposition of Taboola's stock, which they argue is supported by its current trading levels relative to projected earnings before interest, taxes, depreciation, and amortization for the next year. InvestingPro analysis indicates the stock is currently undervalued, with additional ProTips highlighting management's aggressive share buybacks and strong balance sheet position. The report concludes with an emphasis on the positive aspects of Taboola's business, which may continue to influence its performance in the market.
Despite the lowered price target, JMP Securities believes that the addition of Yahoo to Taboola's revenue stream in 2024 sets a challenging comparison for 2025, leading them to predict a substantial slowdown in growth for the year ahead. Nevertheless, they point out that Taboola's current valuation, at approximately 6 times JMP Securities' 2024 EBITDA estimates, provides a reason to remain positive on the stock.The firm's stance is buoyed by the value proposition of Taboola's stock, which they argue is supported by its current trading levels relative to projected earnings before interest, taxes, depreciation, and amortization for the next year. InvestingPro analysis indicates the stock is currently undervalued, with additional ProTips highlighting management's aggressive share buybacks and strong balance sheet position. The report concludes with an emphasis on the positive aspects of Taboola's business, which may continue to influence its performance in the market.
Despite the lowered price target, JMP Securities believes that the addition of Yahoo to Taboola's revenue stream in 2024 sets a challenging comparison for 2025, leading them to predict a substantial slowdown in growth for the year ahead. Nevertheless, they point out that Taboola's current valuation, at approximately 6 times JMP Securities' 2024 EBITDA estimates, provides a reason to remain positive on the stock.
The firm's stance is buoyed by the value proposition of Taboola's stock, which they argue is supported by its current trading levels relative to projected earnings before interest, taxes, depreciation, and amortization for the next year. The report concludes with an emphasis on the positive aspects of Taboola's business, which may continue to influence its performance in the market.
In other recent news, Alpha Star Acquisition Corporation has extended its merger deadline to June 15, 2025. The decision, supported by shareholders, allows the company additional time to finalize a merger or acquisition. In addition to the deadline extension, shareholders approved a modification to the company's investment management trust agreement, permitting up to six monthly extensions for account liquidation, each requiring a deposit of $35,000.
In other news, Taboola reported strong Q3 results, with a 20% increase in revenue to $433 million and a 30% surge in ex-TAC gross profits to $166.4 million. The company's adjusted EBITDA saw a significant rise, reaching $47.9 million with a margin of 29%. Despite a reported net loss of $6.5 million for the quarter, Taboola maintains a strong net cash position of $64.5 million. These recent developments highlight the company's robust performance and strategic growth.
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