Jennison Associates LLC purchased a new stake in shares of Similarweb Ltd. (NYSE:SMWB - Free Report) in the 4th quarter, according to the company in its most recent disclosure with the SEC. The institutional investor purchased 1,839,055 shares of the company's stock, valued at approximately $26,059,000. Jennison Associates LLC owned about 2.27% of Similarweb as of its most recent SEC filing.
Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Cubist Systematic Strategies LLC grew its holdings in Similarweb by 4.4% during the 2nd quarter. Cubist Systematic Strategies LLC now owns 51,272 shares of the company's stock valued at $398,000 after buying an additional 2,138 shares in the last quarter. XTX Topco Ltd grew its holdings in Similarweb by 9.0% during the 3rd quarter. XTX Topco Ltd now owns 53,980 shares of the company's stock valued at $477,000 after buying an additional 4,453 shares in the last quarter. Renaissance Technologies LLC grew its holdings in shares of Similarweb by 4.3% in the second quarter. Renaissance Technologies LLC now owns 110,600 shares of the company's stock valued at $859,000 after purchasing an additional 4,599 shares in the last quarter. Public Employees Retirement System of Ohio purchased a new position in shares of Similarweb in the third quarter valued at $70,000. Finally, Heck Capital Advisors LLC purchased a new position in shares of Similarweb in the fourth quarter valued at $115,000. 57.59% of the stock is owned by hedge funds and other institutional investors.
Wall Street Analyst Weigh In
Several research firms have commented on SMWB. Northland Securities lifted their price objective on shares of Similarweb from $17.00 to $20.00 and gave the stock an "outperform" rating in a research note on Friday, January 24th. Needham & Company LLC reaffirmed a "buy" rating and set a $14.00 price objective on shares of Similarweb in a research note on Thursday, January 16th. Jefferies Financial Group lifted their price objective on shares of Similarweb from $13.00 to $23.00 and gave the stock a "buy" rating in a research note on Monday, February 3rd. William Blair reaffirmed an "outperform" rating on shares of Similarweb in a research note on Thursday, December 19th. Finally, Citigroup lifted their target price on Similarweb from $10.00 to $14.00 and gave the stock a "buy" rating in a research report on Thursday, November 14th. Nine equities research analysts have rated the stock with a buy rating and one has issued a strong buy rating to the company's stock. According to MarketBeat.com, the stock has a consensus rating of "Buy" and an average price target of $15.50.
Read Our Latest Report on SMWB
Similarweb Stock Down 0.9 %
Shares of SMWB stock traded down $0.16 on Friday, hitting $17.11. The stock had a trading volume of 754,731 shares, compared to its average volume of 648,535. The business has a 50 day moving average price of $14.77 and a 200 day moving average price of $11.03. The company has a market cap of $1.38 billion, a PE ratio of -155.51 and a beta of 0.99. Similarweb Ltd. has a one year low of $5.71 and a one year high of $17.56.
Similarweb (NYSE:SMWB - Get Free Report) last released its quarterly earnings data on Tuesday, November 12th. The company reported ($0.03) earnings per share for the quarter, missing the consensus estimate of $0.04 by ($0.07). The firm had revenue of $64.71 million during the quarter, compared to the consensus estimate of $62.90 million. Similarweb had a negative net margin of 3.92% and a negative return on equity of 44.83%. During the same quarter in the previous year, the firm earned ($0.05) earnings per share. Equities research analysts expect that Similarweb Ltd. will post -0.05 EPS for the current year.
About Similarweb
(
Free Report)
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.
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