JPMorgan Chase & Co. Raises Stock Holdings in Similarweb Ltd. (NYSE:SMWB)

JPMorgan Chase & Co. boosted its holdings in Similarweb Ltd. (NYSE:SMWB - Free Report) by 147.4% in the third quarter, according to its most recent filing with the SEC. The institutional investor owned 171,539 shares of the company's stock after buying an additional 102,192 shares during the period. JPMorgan Chase & Co. owned 0.21% of Similarweb worth $1,516,000 as of its most recent SEC filing.

Other institutional investors have also added to or reduced their stakes in the company. Scalar Gauge Management LLC increased its position in Similarweb by 45.5% during the 3rd quarter. Scalar Gauge Management LLC now owns 863,923 shares of the company's stock valued at $7,637,000 after buying an additional 270,000 shares in the last quarter. Connor Clark & Lunn Investment Management Ltd. raised its stake in shares of Similarweb by 112.7% during the 3rd quarter. Connor Clark & Lunn Investment Management Ltd. now owns 449,896 shares of the company's stock worth $3,977,000 after buying an additional 238,428 shares during the period. P.A.W. Capital Corp purchased a new position in Similarweb in the 3rd quarter valued at about $3,536,000. Walleye Capital LLC increased its position in shares of Similarweb by 115.9% during the third quarter. Walleye Capital LLC now owns 354,653 shares of the company's stock worth $3,135,000 after purchasing an additional 190,380 shares in the last quarter. Finally, State Street Corp boosted its position in Similarweb by 32.5% during the third quarter. State Street Corp now owns 187,919 shares of the company's stock worth $1,661,000 after acquiring an additional 46,102 shares during the last quarter. 57.59% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several research firms have recently weighed in on SMWB. William Blair reissued an "outperform" rating on shares of Similarweb in a research note on Thursday, December 19th. JMP Securities reissued a "market outperform" rating and issued a $17.00 price target on shares of Similarweb in a research report on Wednesday, December 11th. Northland Securities boosted their price target on shares of Similarweb from $17.00 to $20.00 and gave the stock an "outperform" rating in a report on Friday. Citigroup lifted their price target on shares of Similarweb from $10.00 to $14.00 and gave the stock a "buy" rating in a research note on Thursday, November 14th. Finally, The Goldman Sachs Group began coverage on shares of Similarweb in a research report on Wednesday, December 11th. They issued a "buy" rating and a $16.00 price target for the company. Nine equities research analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of "Buy" and an average price target of $13.88.

Similarweb Price Performance

SMWB stock traded up $0.60 on Friday, reaching $16.65. 901,519 shares of the company were exchanged, compared to its average volume of 684,015. Similarweb Ltd. has a 12 month low of $5.71 and a 12 month high of $16.67. The firm has a market capitalization of $1.35 billion, a PE ratio of -151.36 and a beta of 0.97. The stock's fifty day moving average price is $13.78 and its 200 day moving average price is $10.25.

Similarweb (NYSE:SMWB - Get Free Report) last issued its earnings results on Tuesday, November 12th. The company reported ($0.03) EPS for the quarter, missing the consensus estimate of $0.04 by ($0.07). Similarweb had a negative net margin of 3.92% and a negative return on equity of 44.83%. The business had revenue of $64.71 million for the quarter, compared to the consensus estimate of $62.90 million. During the same quarter in the previous year, the firm posted ($0.05) EPS. As a group, research analysts expect that Similarweb Ltd. will post -0.05 EPS for the current fiscal 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.