Victory Capital Management Inc. bought a new stake in Similarweb Ltd. (NYSE:SMWB - Free Report) during the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The firm bought 429,782 shares of the company's stock, valued at approximately $6,090,000. Victory Capital Management Inc. owned about 0.53% of Similarweb as of its most recent filing with the Securities & Exchange Commission.
A number of other hedge funds also recently added to or reduced their stakes in SMWB. Jennison Associates LLC bought a new stake in Similarweb in the fourth quarter valued at $26,059,000. Scalar Gauge Management LLC increased its holdings in shares of Similarweb by 45.5% during the third quarter. Scalar Gauge Management LLC now owns 863,923 shares of the company's stock valued at $7,637,000 after purchasing an additional 270,000 shares during the period. Connor Clark & Lunn Investment Management Ltd. increased its holdings in shares of Similarweb by 112.7% during the third quarter. Connor Clark & Lunn Investment Management Ltd. now owns 449,896 shares of the company's stock valued at $3,977,000 after purchasing an additional 238,428 shares during the period. Walleye Capital LLC increased its holdings in shares of Similarweb by 115.9% during the third quarter. Walleye Capital LLC now owns 354,653 shares of the company's stock valued at $3,135,000 after purchasing an additional 190,380 shares during the period. Finally, JPMorgan Chase & Co. increased its holdings in shares of Similarweb by 147.4% during the third quarter. JPMorgan Chase & Co. now owns 171,539 shares of the company's stock valued at $1,516,000 after purchasing an additional 102,192 shares during the period. 57.59% of the stock is currently owned by institutional investors.
Analyst Upgrades and Downgrades
SMWB has been the topic of a number of research analyst reports. Jefferies Financial Group raised their price target on Similarweb from $13.00 to $23.00 and gave the company a "buy" rating in a report on Monday, February 3rd. Northland Securities raised their price target on Similarweb from $17.00 to $20.00 and gave the company an "outperform" rating in a report on Friday, January 24th. The Goldman Sachs Group initiated coverage on Similarweb in a report on Wednesday, December 11th. They set a "buy" rating and a $16.00 price target on the stock. JMP Securities reissued a "market outperform" rating and set a $17.00 price target on shares of Similarweb in a report on Thursday, February 13th. Finally, Citigroup raised their price target on Similarweb from $14.00 to $22.00 and gave the company a "buy" rating in a report on Tuesday, February 11th. Nine analysts have rated the stock with a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, Similarweb currently has a consensus rating of "Buy" and an average target price of $16.50.
Check Out Our Latest Stock Report on Similarweb
Similarweb Stock Performance
SMWB traded down $0.18 during trading on Tuesday, reaching $9.12. The company had a trading volume of 401,321 shares, compared to its average volume of 361,441. The firm's 50-day simple moving average is $12.98 and its 200 day simple moving average is $11.52. The company has a market cap of $753.49 million, a price-to-earnings ratio of -65.14 and a beta of 1.08. Similarweb Ltd. has a 12-month low of $5.71 and a 12-month high of $17.64.
Similarweb (NYSE:SMWB - Get Free Report) last issued its quarterly 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 return on equity of 47.62% and a negative net margin of 4.58%. On average, sell-side 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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