CenterBook Partners LP Increases Stock Holdings in Similarweb Ltd. (NYSE:SMWB)

CenterBook Partners LP increased its position in shares of Similarweb Ltd. (NYSE:SMWB - Free Report) by 307.2% in the 1st quarter, according to its most recent disclosure with the SEC. The institutional investor owned 807,696 shares of the company's stock after purchasing an additional 609,365 shares during the quarter. CenterBook Partners LP owned approximately 0.98% of Similarweb worth $6,680,000 as of its most recent filing with the SEC.

Several other large investors have also recently made changes to their positions in SMWB. KLP Kapitalforvaltning AS purchased a new stake in Similarweb in the 4th quarter valued at $115,000. Heck Capital Advisors LLC acquired a new position in shares of Similarweb in the 4th quarter valued at $115,000. Fullcircle Wealth LLC acquired a new position in shares of Similarweb in the 1st quarter valued at $117,000. Public Employees Retirement System of Ohio lifted its stake in shares of Similarweb by 25.3% in the 4th quarter. Public Employees Retirement System of Ohio now owns 9,900 shares of the company's stock valued at $140,000 after purchasing an additional 2,000 shares during the last quarter. Finally, Teacher Retirement System of Texas lifted its stake in shares of Similarweb by 70.1% in the 1st quarter. Teacher Retirement System of Texas now owns 18,362 shares of the company's stock valued at $152,000 after purchasing an additional 7,566 shares during the last quarter. 57.59% of the stock is currently owned by hedge funds and other institutional investors.

Similarweb Trading Up 3.1%

Shares of SMWB traded up $0.26 during mid-day trading on Friday, hitting $8.62. The company's stock had a trading volume of 295,776 shares, compared to its average volume of 626,618. The firm has a 50-day simple moving average of $7.87 and a 200 day simple moving average of $9.80. The firm has a market capitalization of $712.18 million, a P/E ratio of -39.18 and a beta of 1.10. Similarweb Ltd. has a 1-year low of $5.71 and a 1-year high of $17.64.

Similarweb (NYSE:SMWB - Get Free Report) last issued its quarterly earnings data on Tuesday, May 13th. The company reported ($0.11) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.02) by ($0.09). The firm had revenue of $67.09 million for the quarter, compared to analyst estimates of $66.37 million. Similarweb had a negative return on equity of 71.14% and a negative net margin of 6.97%. As a group, sell-side analysts predict that Similarweb Ltd. will post -0.24 EPS for the current fiscal year.

Analysts Set New Price Targets

Several equities analysts recently issued reports on SMWB shares. Barclays decreased their target price on Similarweb from $15.00 to $10.00 and set an "overweight" rating on the stock in a research note on Thursday, May 15th. The Goldman Sachs Group dropped their price target on Similarweb from $13.00 to $10.00 and set a "buy" rating on the stock in a research note on Thursday, April 17th. Nine investment analysts have rated the stock with a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, the company presently has an average rating of "Buy" and an average price target of $15.75.

Similarweb Company 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.