Walleye Capital LLC Raises Stake in Similarweb Ltd. (NYSE:SMWB)

Walleye Capital LLC boosted its stake in shares of Similarweb Ltd. (NYSE:SMWB - Free Report) by 34.9% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 478,417 shares of the company's stock after buying an additional 123,764 shares during the quarter. Walleye Capital LLC owned approximately 0.59% of Similarweb worth $6,779,000 as of its most recent SEC filing.

Other hedge funds have also added to or reduced their stakes in the company. Global Retirement Partners LLC purchased a new stake in shares of Similarweb in the 4th quarter worth approximately $29,000. New York State Common Retirement Fund purchased a new position in Similarweb in the 4th quarter valued at about $39,000. Public Employees Retirement System of Ohio acquired a new stake in Similarweb in the 3rd quarter worth about $70,000. Heck Capital Advisors LLC acquired a new position in shares of Similarweb during the fourth quarter valued at approximately $115,000. Finally, KLP Kapitalforvaltning AS purchased a new position in shares of Similarweb in the fourth quarter valued at approximately $115,000. 57.59% of the stock is currently owned by institutional investors.

Similarweb Price Performance

Shares of NYSE:SMWB traded up $0.07 during mid-day trading on Friday, reaching $6.79. 635,880 shares of the company were exchanged, compared to its average volume of 388,726. The firm has a market cap of $560.98 million, a price-to-earnings ratio of -48.50 and a beta of 1.12. Similarweb Ltd. has a 1 year low of $5.71 and a 1 year high of $17.64. The firm's 50-day simple moving average is $8.69 and its 200 day simple moving average is $11.28.

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 net margin of 4.58% and a negative return on equity of 47.62%. On average, research analysts forecast that Similarweb Ltd. will post -0.24 earnings per share for the current fiscal year.

Analyst Ratings Changes

Several equities analysts have recently weighed in on the stock. Northland Securities raised their price target 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. The Goldman Sachs Group lowered their target price on Similarweb from $13.00 to $10.00 and set a "buy" rating on the stock in a report on Thursday. Jefferies Financial Group lifted their price objective on Similarweb from $13.00 to $23.00 and gave the stock a "buy" rating in a research report on Monday, February 3rd. Needham & Company LLC reaffirmed a "buy" rating and issued a $14.00 target price on shares of Similarweb in a research note on Thursday, February 13th. Finally, Citigroup boosted their price target on shares of Similarweb from $14.00 to $22.00 and gave the company a "buy" rating in a research report on Tuesday, February 11th. Nine research 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 target price of $15.75.

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.