Arrowstreet Capital Limited Partnership Has $3.62 Million Stake in Similarweb Ltd. (NYSE:SMWB)

Arrowstreet Capital Limited Partnership lifted its stake in shares of Similarweb Ltd. (NYSE:SMWB - Free Report) by 111.1% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 255,406 shares of the company's stock after acquiring an additional 134,407 shares during the quarter. Arrowstreet Capital Limited Partnership owned about 0.32% of Similarweb worth $3,619,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently modified their holdings of the company. Global Retirement Partners LLC purchased a new position in Similarweb in the 4th quarter worth about $29,000. New York State Common Retirement Fund purchased a new stake in shares of Similarweb during the 4th quarter worth about $39,000. Public Employees Retirement System of Ohio acquired a new position in Similarweb in the third quarter worth approximately $70,000. KLP Kapitalforvaltning AS bought a new position in Similarweb during the fourth quarter valued at approximately $115,000. Finally, Heck Capital Advisors LLC acquired a new stake in Similarweb in the fourth quarter valued at approximately $115,000. Institutional investors own 57.59% of the company's stock.

Analysts Set New Price Targets

SMWB has been the subject of several analyst reports. Needham & Company LLC reaffirmed a "buy" rating and issued a $14.00 price objective on shares of Similarweb in a research note on Thursday, February 13th. Jefferies Financial Group upped their target price on Similarweb from $13.00 to $23.00 and gave the stock a "buy" rating in a research report on Monday, February 3rd. JMP Securities reaffirmed a "market outperform" rating and set a $17.00 price objective on shares of Similarweb in a report on Thursday, February 13th. William Blair reissued an "outperform" rating on shares of Similarweb in a research report on Thursday, December 19th. Finally, Northland Securities upped their price target on shares of Similarweb from $17.00 to $20.00 and gave the company an "outperform" rating in a report on Friday, January 24th. Nine research analysts have rated the stock with a buy rating and one has given a strong buy rating to the company's stock. According to data from MarketBeat.com, Similarweb currently has a consensus rating of "Buy" and an average target price of $16.13.

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Similarweb Trading Up 1.0 %

SMWB stock traded up $0.07 during midday trading on Monday, hitting $7.03. The stock had a trading volume of 5,118 shares, compared to its average volume of 383,707. The firm has a market capitalization of $580.81 million, a price-to-earnings ratio of -50.53 and a beta of 1.12. The stock has a 50-day simple moving average of $9.72 and a 200 day simple moving average of $11.38. Similarweb Ltd. has a 52 week low of $5.71 and a 52 week high of $17.64.

Similarweb (NYSE:SMWB - Get Free Report) last posted its earnings results on Tuesday, February 11th. The company reported ($0.07) earnings per share for the quarter, missing analysts' consensus estimates of $0.03 by ($0.10). Similarweb had a negative net margin of 4.58% and a negative return on equity of 47.62%. On average, equities analysts forecast that Similarweb Ltd. will post -0.24 EPS for the current year.

About Similarweb

Similarweb Ltd. provides cloud-based digital intelligence solutions in the United States, Europe, the Asia Pacific, the United Kingdom, Israel, and internationally. The company offers digital research intelligence solutions for its customers to benchmark performance against competitors and market leaders, analyze trends in the market, conduct deeper research into specific companies, and analyze audience behavior; and digital marketing intelligence solutions for its customers to understand their competitors' online acquisition strategies in each marketing channel, and optimize their own strategies.