Similarweb Ltd. $SMWB Holdings Raised by Menora Mivtachim Holdings LTD.

Key Points

• Menora Mivtachim Holdings LTD. increased its stake in Similarweb Ltd. by 33.2%, owning 2,246,470 shares worth approximately $18.58 million as of the first quarter.
• Several institutional investors have also modified their holdings of Similarweb, with Public Employees Retirement System of Ohio raising its position by 25.3% and Teacher Retirement System of Texas by 70.1%.
• Analysts maintain an average buy rating for Similarweb, with a current average price target of $15.00, despite Citigroup recently lowering their price objective from $13.00 to $11.00.

Menora Mivtachim Holdings LTD. raised its holdings in Similarweb Ltd. (NYSE:SMWB - Free Report) by 33.2% in the first quarter, according to the company in its most recent disclosure with the SEC. The firm owned 2,246,470 shares of the company's stock after acquiring an additional 560,000 shares during the quarter. Menora Mivtachim Holdings LTD. owned 2.72% of Similarweb worth $18,578,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Heck Capital Advisors LLC acquired a new position in shares of Similarweb during the 4th quarter worth $115,000. Public Employees Retirement System of Ohio increased its position in 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 purchasing an additional 2,000 shares in the last quarter. Freedom Investment Management Inc. purchased a new stake in Similarweb during the 4th quarter worth about $191,000. Fullcircle Wealth LLC purchased a new stake in Similarweb in the 1st quarter valued at about $117,000. Finally, Teacher Retirement System of Texas grew its holdings in shares of Similarweb by 70.1% during the 1st quarter. Teacher Retirement System of Texas now owns 18,362 shares of the company's stock worth $152,000 after purchasing an additional 7,566 shares during the period. Institutional investors and hedge funds own 57.59% of the company's stock.

Similarweb Price Performance

Shares of Similarweb stock traded down $0.01 during trading on Thursday, hitting $8.64. The stock had a trading volume of 322,211 shares, compared to its average volume of 607,498. The firm has a market cap of $733.28 million, a P/E ratio of -24.69 and a beta of 1.11. The business has a fifty day moving average of $8.17 and a two-hundred day moving average of $8.62. Similarweb Ltd. has a fifty-two week low of $6.36 and a fifty-two week high of $17.64.

Wall Street Analysts Forecast Growth

SMWB has been the topic of several recent research reports. Oppenheimer boosted their price target on Similarweb from $13.00 to $14.00 and gave the stock an "outperform" rating in a research report on Monday. Zacks Research raised Similarweb from a "strong sell" rating to a "hold" rating in a research report on Thursday, August 14th. Citigroup cut their target price on Similarweb from $13.00 to $11.00 and set a "buy" rating on the stock in a research report on Friday, August 1st. Finally, Barclays reaffirmed an "overweight" rating on shares of Similarweb in a research report on Wednesday, August 13th. One equities research analyst has rated the stock with a Strong Buy rating, nine have given a Buy rating and one has assigned a Hold rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of "Buy" and a consensus target price of $14.88.

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.