Jennison Associates LLC boosted its position in Similarweb Ltd. (NYSE:SMWB - Free Report) by 2.9% in the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,892,110 shares of the company's stock after purchasing an additional 53,055 shares during the period. Jennison Associates LLC owned about 2.29% of Similarweb worth $15,648,000 as of its most recent SEC filing.
Several other hedge funds and other institutional investors have also recently bought and sold shares of the company. Schonfeld Strategic Advisors LLC acquired a new stake in Similarweb in the fourth quarter valued at $22,536,000. Scalar Gauge Management LLC boosted its position in shares of Similarweb by 29.2% in the 4th 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. S Squared Technology LLC grew its stake in Similarweb by 2.8% in the 4th quarter. S Squared Technology LLC now owns 1,056,291 shares of the company's stock valued at $14,968,000 after acquiring an additional 28,274 shares during the last quarter. Next Century Growth Investors LLC increased its holdings in Similarweb by 146.7% during the 4th quarter. Next Century Growth Investors LLC now owns 699,128 shares of the company's stock valued at $9,907,000 after acquiring an additional 415,792 shares in the last quarter. Finally, T. Rowe Price Investment Management Inc. acquired a new position in Similarweb during the fourth quarter worth about $9,563,000. 57.59% of the stock is owned by institutional investors and hedge funds.
Similarweb Price Performance
SMWB stock traded down $0.40 during midday trading on Thursday, hitting $8.79. The stock had a trading volume of 522,836 shares, compared to its average volume of 504,341. The company's 50-day moving average price is $7.98 and its 200 day moving average price is $9.61. The firm has a market cap of $726.15 million, a PE ratio of -39.95 and a beta of 1.10. 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 announced its quarterly earnings data on Tuesday, May 13th. The company reported ($0.11) EPS for the quarter, missing analysts' consensus estimates of ($0.02) by ($0.09). Similarweb had a negative net margin of 6.97% and a negative return on equity of 71.14%. The business had revenue of $67.09 million during the quarter, compared to analysts' expectations of $66.37 million. As a group, sell-side analysts anticipate that Similarweb Ltd. will post -0.24 EPS for the current year.
Analyst Upgrades and Downgrades
A number of brokerages have recently weighed in on SMWB. The Goldman Sachs Group dropped their price objective on shares of Similarweb from $13.00 to $10.00 and set a "buy" rating for the company in a research note on Thursday, April 17th. Barclays dropped their price target on Similarweb from $15.00 to $10.00 and set an "overweight" rating for the company in a research report on Thursday, May 15th. Nine analysts have rated the stock with a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, Similarweb currently has an average rating of "Buy" and an average price target of $15.75.
Read Our Latest Research Report on Similarweb
About Similarweb
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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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