Migdal Insurance & Financial Holdings Ltd. increased its stake in Similarweb Ltd. (NYSE:SMWB - Free Report) by 61.3% in the 1st quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 2,762,557 shares of the company's stock after purchasing an additional 1,050,000 shares during the quarter. Migdal Insurance & Financial Holdings Ltd. owned about 3.34% of Similarweb worth $22,846,000 at the end of the most recent quarter.
Other hedge funds also recently made changes to their positions in the company. Jennison Associates LLC grew its position in Similarweb by 2.9% during the first quarter. Jennison Associates LLC now owns 1,892,110 shares of the company's stock worth $15,648,000 after buying an additional 53,055 shares in the last quarter. Schonfeld Strategic Advisors LLC bought a new stake in Similarweb during the fourth quarter worth about $22,536,000. Scalar Gauge Management LLC lifted its stake in Similarweb by 29.2% during the fourth quarter. Scalar Gauge Management LLC now owns 1,115,778 shares of the company's stock worth $15,811,000 after purchasing an additional 251,855 shares during the last quarter. S Squared Technology LLC lifted its stake in Similarweb by 2.8% during the fourth quarter. S Squared Technology LLC now owns 1,056,291 shares of the company's stock worth $14,968,000 after purchasing an additional 28,274 shares during the last quarter. Finally, Next Century Growth Investors LLC lifted its stake in Similarweb by 146.7% during the fourth quarter. Next Century Growth Investors LLC now owns 699,128 shares of the company's stock worth $9,907,000 after purchasing an additional 415,792 shares during the last quarter. 57.59% of the stock is currently owned by hedge funds and other institutional investors.
Analyst Ratings Changes
A number of equities analysts recently commented on the company. The Goldman Sachs Group decreased their target price on Similarweb from $13.00 to $10.00 and set a "buy" rating for the company in a report on Thursday, April 17th. Barclays cut their price target on Similarweb from $15.00 to $10.00 and set an "overweight" rating on the stock in a research note on Thursday, May 15th. Nine research analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of "Buy" and a consensus target price of $15.75.
Get Our Latest Analysis on SMWB
Similarweb Trading Up 2.8%
Shares of Similarweb stock traded up $0.24 during trading hours on Monday, reaching $8.81. The stock had a trading volume of 561,164 shares, compared to its average volume of 501,186. The stock's 50 day moving average is $7.89 and its 200 day moving average is $9.70. The firm has a market capitalization of $727.88 million, a PE ratio of -40.04 and a beta of 1.10. Similarweb Ltd. has a twelve month low of $5.71 and a twelve month high of $17.64.
Similarweb (NYSE:SMWB - Get Free Report) last posted its quarterly earnings results on Tuesday, May 13th. The company reported ($0.11) earnings per share for the quarter, missing the consensus estimate of ($0.02) by ($0.09). The firm had revenue of $67.09 million during the quarter, compared to analysts' expectations of $66.37 million. Similarweb had a negative net margin of 6.97% and a negative return on equity of 71.14%. As a group, sell-side analysts predict that Similarweb Ltd. will post -0.24 earnings per share for the current year.
About Similarweb
(
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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