Next Century Growth Investors LLC raised its stake in Similarweb Ltd. (NYSE:SMWB - Free Report) by 146.7% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 699,128 shares of the company's stock after purchasing an additional 415,792 shares during the quarter. Next Century Growth Investors LLC owned 0.86% of Similarweb worth $9,907,000 at the end of the most recent reporting period.
Other institutional investors have also modified their holdings of the company. Jennison Associates LLC purchased a new position in Similarweb in the fourth quarter worth $26,059,000. Y.D. More Investments Ltd lifted its stake in shares of Similarweb by 6.3% in the fourth quarter. Y.D. More Investments Ltd now owns 1,449,634 shares of the company's stock valued at $20,541,000 after purchasing an additional 86,500 shares during the period. Scalar Gauge Management LLC boosted its holdings in Similarweb by 29.2% during the fourth quarter. Scalar Gauge Management LLC now owns 1,115,778 shares of the company's stock worth $15,811,000 after buying an additional 251,855 shares in the last quarter. Connor Clark & Lunn Investment Management Ltd. grew its position in 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 period. Finally, Victory Capital Management Inc. purchased a new position in Similarweb in the fourth quarter valued at about $6,090,000. Institutional investors and hedge funds own 57.59% of the company's stock.
Analysts Set New Price Targets
Several equities analysts recently weighed in on SMWB shares. The Goldman Sachs Group dropped their price objective on Similarweb from $15.00 to $13.00 and set a "buy" rating for the company in a research note on Friday, March 28th. Needham & Company LLC reiterated a "buy" rating and issued a $14.00 price objective on shares of Similarweb in a research report on Thursday, February 13th. Jefferies Financial Group raised their target price on shares of Similarweb from $13.00 to $23.00 and gave the company a "buy" rating in a report on Monday, February 3rd. JMP Securities reiterated a "market outperform" rating and issued a $17.00 price target on shares of Similarweb in a research report on Thursday, February 13th. Finally, William Blair restated an "outperform" rating on shares of Similarweb in a research report on Thursday, December 19th. Nine analysts have rated the stock with a buy rating and one has given a strong buy rating to the company's stock. According to MarketBeat.com, Similarweb presently has a consensus rating of "Buy" and a consensus price target of $16.13.
Read Our Latest Research Report on Similarweb
Similarweb Trading Up 1.1 %
SMWB traded up $0.07 during midday trading on Tuesday, hitting $6.95. The company's stock had a trading volume of 359,403 shares, compared to its average volume of 385,674. The firm has a market cap of $574.53 million, a P/E ratio of -49.67 and a beta of 1.12. Similarweb Ltd. has a 52-week low of $5.71 and a 52-week high of $17.64. The firm has a 50-day moving average price of $9.30 and a two-hundred day moving average price of $11.33.
Similarweb (NYSE:SMWB - Get Free Report) last issued its quarterly earnings results on Tuesday, February 11th. The company reported ($0.07) 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%. On average, equities analysts expect that Similarweb Ltd. will post -0.24 EPS for the current year.
Similarweb Profile
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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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