Millennium Management LLC Has $1.54 Million Stock Position in Similarweb Ltd. (NYSE:SMWB)

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

A number of other large investors have also recently added to or reduced their stakes in SMWB. Jennison Associates LLC bought a new position in shares of Similarweb in the 4th quarter worth about $26,059,000. Schonfeld Strategic Advisors LLC bought a new position in shares of Similarweb in the 4th quarter worth about $22,536,000. T. Rowe Price Investment Management Inc. bought a new position in shares of Similarweb in the 4th quarter worth about $9,563,000. Victory Capital Management Inc. bought a new position in shares of Similarweb in the 4th quarter worth about $6,090,000. Finally, Next Century Growth Investors LLC lifted its position in shares of Similarweb by 146.7% in the 4th quarter. Next Century Growth Investors LLC now owns 699,128 shares of the company's stock worth $9,907,000 after buying an additional 415,792 shares during the last quarter. 57.59% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

SMWB has been the topic of a number of analyst reports. Citigroup increased their price objective on shares of Similarweb from $14.00 to $22.00 and gave the stock a "buy" rating in a report on Tuesday, February 11th. Barclays dropped their price objective on shares of Similarweb from $15.00 to $10.00 and set an "overweight" rating on the stock in a report on Thursday, May 15th. JMP Securities reaffirmed a "market outperform" rating and issued a $17.00 price objective on shares of Similarweb in a report on Thursday, February 13th. The Goldman Sachs Group dropped their price objective on shares of Similarweb from $13.00 to $10.00 and set a "buy" rating on the stock in a report on Thursday, April 17th. Finally, Needham & Company LLC reaffirmed a "buy" rating and issued a $14.00 price objective on shares of Similarweb in a report on Thursday, February 13th. Nine analysts have rated the stock with a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of "Buy" and a consensus target price of $15.75.

Similarweb Stock Down 0.9%

Similarweb stock traded down $0.07 during trading hours on Friday, hitting $7.91. 273,859 shares of the company traded hands, compared to its average volume of 452,600. The firm has a market cap of $653.52 million, a P/E ratio of -56.50 and a beta of 1.09. The firm's 50-day simple moving average is $7.36 and its two-hundred day simple moving average is $10.82. Similarweb Ltd. has a 1-year low of $5.71 and a 1-year high of $17.64.

Similarweb (NYSE:SMWB - Get Free Report) last released its earnings results on Tuesday, May 13th. The company reported ($0.11) EPS for the quarter, missing the consensus estimate of ($0.02) by ($0.09). The company had revenue of $67.09 million for the quarter, compared to analyst estimates of $66.37 million. Similarweb had a negative net margin of 4.58% and a negative return on equity of 47.62%. On average, equities research analysts predict that Similarweb Ltd. will post -0.24 earnings per share for the current year.

Similarweb 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.