Jennison Associates LLC Increases Stock Position in Similarweb Ltd. (NYSE:SMWB)

Jennison Associates LLC grew its position in Similarweb Ltd. (NYSE:SMWB - Free Report) by 2.9% in the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 1,892,110 shares of the company's stock after purchasing an additional 53,055 shares during the period. Jennison Associates LLC owned approximately 2.29% of Similarweb worth $15,648,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently bought and sold shares of SMWB. KLP Kapitalforvaltning AS purchased a new stake in shares of Similarweb in the 4th quarter valued at approximately $115,000. Heck Capital Advisors LLC bought a new stake in Similarweb in the 4th quarter valued at $115,000. Public Employees Retirement System of Ohio lifted its holdings in shares of Similarweb by 25.3% during the 4th quarter. Public Employees Retirement System of Ohio now owns 9,900 shares of the company's stock worth $140,000 after acquiring an additional 2,000 shares during the period. Teacher Retirement System of Texas bought a new position in shares of Similarweb during the 4th quarter worth about $153,000. Finally, Freedom Investment Management Inc. bought a new position in Similarweb during the 4th quarter valued at about $191,000. Institutional investors own 57.59% of the company's stock.

Similarweb Price Performance

Shares of NYSE:SMWB traded up $0.24 during mid-day trading on Monday, hitting $8.81. The company had a trading volume of 561,164 shares, compared to its average volume of 501,186. The company has a market capitalization of $727.88 million, a PE ratio of -40.04 and a beta of 1.10. The firm has a fifty day moving average price of $7.89 and a 200 day moving average price of $9.70. Similarweb Ltd. has a one year low of $5.71 and a one year high of $17.64.

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

Wall Street Analyst Weigh In

Several brokerages have commented on SMWB. The Goldman Sachs Group lowered their target price 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 cut their price objective on shares of Similarweb from $15.00 to $10.00 and set an "overweight" rating on the stock in a research report on Thursday, May 15th. Nine investment analysts have rated the stock with a buy rating and one has issued a strong buy rating to the company's stock. Based on data from MarketBeat, the company currently has an average rating of "Buy" and a consensus target price 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.