Taboola.com Ltd (NASDAQ: TBLA) stock plummeted 5.47% in Thursday's intraday trading session following the release of its full-year 2024 earnings report and subsequent analyst downgrades.
The company reported revenue of $1.77 billion for the year, up 23% year-over-year but missed earnings expectations with a net loss of $3.76 million or $0.011 per share. While the loss narrowed significantly from the prior year, analysts had expected better profitability results.
Following the earnings release, analysts at B. Riley and JMP Securities downgraded Taboola.com's stock, citing concerns over weaker-than-expected earnings and growth prospects. B. Riley downgraded the stock to Neutral from Buy and lowered its price target to $4 from $5, while JMP Securities cut its rating to Hold.
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