Northern Trust Corp Boosts Stake in Similarweb Ltd. (NYSE:SMWB)

Northern Trust Corp raised its holdings in Similarweb Ltd. (NYSE:SMWB - Free Report) by 437.4% during the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 66,277 shares of the company's stock after purchasing an additional 53,945 shares during the quarter. Northern Trust Corp owned 0.08% of Similarweb worth $939,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Heck Capital Advisors LLC purchased a new stake in shares of Similarweb in the 4th quarter valued at $115,000. Jennison Associates LLC purchased a new stake in shares of Similarweb in the 4th quarter valued at $26,059,000. Calamos Advisors LLC raised its holdings in shares of Similarweb by 147.4% in the 4th quarter. Calamos Advisors LLC now owns 171,167 shares of the company's stock valued at $2,425,000 after buying an additional 101,975 shares during the period. Y.D. More Investments Ltd raised its holdings 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. Finally, New York State Common Retirement Fund purchased a new stake in shares of Similarweb in the 4th quarter valued at $39,000. Hedge funds and other institutional investors own 57.59% of the company's stock.

Analyst Upgrades and Downgrades

Several equities research analysts recently issued reports on SMWB shares. The Goldman Sachs Group cut their price objective on Similarweb from $13.00 to $10.00 and set a "buy" rating on the stock in a report on Thursday, April 17th. Needham & Company LLC reissued a "buy" rating and set a $14.00 target price on shares of Similarweb in a research note on Thursday, February 13th. JMP Securities reissued a "market outperform" rating and set a $17.00 target price on shares of Similarweb in a research note on Thursday, February 13th. Barclays lowered their target price on Similarweb from $15.00 to $10.00 and set an "overweight" rating for the company in a research note on Thursday, May 15th. Finally, Citigroup boosted their target price on Similarweb from $14.00 to $22.00 and gave the stock a "buy" rating in a research note on Tuesday, February 11th. Nine research analysts have rated the stock with a buy rating and one has issued a strong buy rating to the company's stock. According to data from MarketBeat, Similarweb currently has an average rating of "Buy" and a consensus target price of $15.75.

Similarweb Stock Performance

Shares of NYSE:SMWB traded up $0.11 on Tuesday, hitting $7.40. 464,135 shares of the company's stock were exchanged, compared to its average volume of 450,102. The firm's 50-day moving average is $7.39 and its 200 day moving average is $10.90. The company has a market capitalization of $611.05 million, a PE ratio of -52.82 and a beta of 1.13. 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 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 business had revenue of $67.09 million for the quarter, compared to analyst estimates of $66.37 million. Similarweb had a negative return on equity of 47.62% and a negative net margin of 4.58%. On average, analysts anticipate that Similarweb Ltd. will post -0.24 EPS for the current fiscal year.

About Similarweb

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.