Millennium Management LLC Decreases Stock Holdings in Similarweb Ltd. (NYSE:SMWB)

Millennium Management LLC decreased its holdings in Similarweb Ltd. (NYSE:SMWB - Free Report) by 80.0% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 108,328 shares of the company's stock after selling 433,954 shares during the period. Millennium Management LLC owned approximately 0.13% of Similarweb worth $1,535,000 at the end of the most recent quarter.

Other hedge funds also recently bought and sold shares of the company. Jennison Associates LLC purchased a new stake in shares of Similarweb in the 4th quarter valued at approximately $26,059,000. Schonfeld Strategic Advisors LLC purchased a new stake in shares of Similarweb in the 4th quarter valued at approximately $22,536,000. Y.D. More Investments Ltd grew its stake in shares of Similarweb by 6.3% in the 4th quarter. Y.D. More Investments Ltd now owns 1,449,634 shares of the company's stock valued at $20,541,000 after buying an additional 86,500 shares during the period. Scalar Gauge Management LLC grew its stake 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 valued at $15,811,000 after buying an additional 251,855 shares during the period. Finally, S Squared Technology LLC grew its stake in shares of 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 buying an additional 28,274 shares during the period. Institutional investors and hedge funds own 57.59% of the company's stock.

Analyst Upgrades and Downgrades

Several analysts recently weighed in on the stock. Needham & Company LLC reiterated a "buy" rating and issued a $14.00 target price on shares of Similarweb in a report on Thursday, February 13th. JMP Securities reiterated a "market outperform" rating and issued a $17.00 target price on shares of Similarweb in a report on Thursday, February 13th. The Goldman Sachs Group dropped their target price on shares of Similarweb from $13.00 to $10.00 and set a "buy" rating for the company in a report on Thursday, April 17th. Citigroup lifted their target price on shares of Similarweb from $14.00 to $22.00 and gave the company a "buy" rating in a report on Tuesday, February 11th. Finally, Barclays dropped their target price on shares of Similarweb from $15.00 to $10.00 and set an "overweight" rating for the company in a report on Thursday, May 15th. Nine equities research 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.com, Similarweb currently has an average rating of "Buy" and an average price target of $15.75.

Similarweb Stock Performance

Shares of NYSE:SMWB traded up $0.43 during trading on Thursday, hitting $7.99. The company's stock had a trading volume of 521,000 shares, compared to its average volume of 450,807. The company has a market capitalization of $659.80 million, a PE ratio of -57.04 and a beta of 1.09. The business has a 50 day moving average price of $7.37 and a two-hundred day moving average price of $10.87. Similarweb Ltd. has a fifty-two week low of $5.71 and a fifty-two week high of $17.64.

Similarweb (NYSE:SMWB - Get Free Report) last released 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 analysts' expectations of $66.37 million. Similarweb had a negative return on equity of 47.62% and a negative net margin of 4.58%. As a group, equities analysts expect that Similarweb Ltd. will post -0.24 earnings per share for the current fiscal year.

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.