Scalar Gauge Management LLC Acquires 251,855 Shares of Similarweb Ltd. (NYSE:SMWB)

Scalar Gauge Management LLC raised its position in Similarweb Ltd. (NYSE:SMWB - Free Report) by 29.2% in the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 1,115,778 shares of the company's stock after acquiring an additional 251,855 shares during the quarter. Similarweb makes up about 7.3% of Scalar Gauge Management LLC's holdings, making the stock its 6th biggest holding. Scalar Gauge Management LLC owned about 1.38% of Similarweb worth $15,811,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in SMWB. Jennison Associates LLC acquired a new stake in shares of Similarweb during the fourth quarter worth about $26,059,000. Victory Capital Management Inc. purchased a new stake in shares of Similarweb in the fourth quarter valued at about $6,090,000. Telemark Asset Management LLC purchased a new stake in shares of Similarweb in the fourth quarter valued at about $4,251,000. Connor Clark & Lunn Investment Management Ltd. grew its holdings in shares of Similarweb by 50.6% during the fourth quarter. Connor Clark & Lunn Investment Management Ltd. now owns 677,465 shares of the company's stock worth $9,600,000 after buying an additional 227,569 shares during the last quarter. Finally, Walleye Capital LLC increased its position in Similarweb by 115.9% in the 3rd quarter. Walleye Capital LLC now owns 354,653 shares of the company's stock valued at $3,135,000 after acquiring an additional 190,380 shares during the period. Institutional investors and hedge funds own 57.59% of the company's stock.

Similarweb Stock Up 1.3 %

Shares of SMWB traded up $0.11 during trading hours on Tuesday, reaching $8.38. 310,765 shares of the company traded hands, compared to its average volume of 373,291. The stock has a market capitalization of $692.35 million, a PE ratio of -59.85 and a beta of 1.08. The stock has a fifty day simple moving average of $11.58 and a 200 day simple moving average of $11.50. Similarweb Ltd. has a fifty-two week low of $5.71 and a fifty-two week high of $17.64.

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

Wall Street Analysts Forecast Growth

SMWB has been the topic of several analyst reports. The Goldman Sachs Group lowered their target price on shares of Similarweb from $15.00 to $13.00 and set a "buy" rating on the stock in a report on Friday. JMP Securities reiterated a "market outperform" rating and issued a $17.00 price objective on shares of Similarweb in a research report on Thursday, February 13th. Jefferies Financial Group boosted their target price on shares of Similarweb from $13.00 to $23.00 and gave the stock a "buy" rating in a research report on Monday, February 3rd. Citigroup increased their price target on shares of Similarweb from $14.00 to $22.00 and gave the company a "buy" rating in a report on Tuesday, February 11th. Finally, William Blair reissued an "outperform" rating on shares of Similarweb in a report on Thursday, December 19th. Nine investment analysts have rated the stock with a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, the company has a consensus rating of "Buy" and a consensus price target of $16.13.

Similarweb Profile

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.