Nuveen Asset Management LLC increased its stake in shares of Similarweb Ltd. (NYSE:SMWB - Free Report) by 24.9% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 428,926 shares of the company's stock after purchasing an additional 85,448 shares during the quarter. Nuveen Asset Management LLC owned approximately 0.53% of Similarweb worth $6,078,000 as of its most recent SEC filing.
Other hedge funds have also recently made changes to their positions in the company. Global Retirement Partners LLC purchased a new stake in shares of Similarweb during the 4th quarter worth $29,000. New York State Common Retirement Fund purchased a new stake in shares of Similarweb during the 4th quarter worth $39,000. KLP Kapitalforvaltning AS purchased a new stake in shares of Similarweb during the 4th quarter worth $115,000. Heck Capital Advisors LLC purchased a new stake in shares of Similarweb during the 4th quarter worth $115,000. Finally, Teacher Retirement System of Texas purchased a new stake in shares of Similarweb during the 4th quarter worth $153,000. 57.59% of the stock is currently owned by hedge funds and other institutional investors.
Wall Street Analyst Weigh In
SMWB has been the subject of a number of analyst reports. Barclays decreased their price objective on Similarweb from $15.00 to $10.00 and set an "overweight" rating for the company in a research note on Thursday, May 15th. Citigroup upped their target price on Similarweb from $14.00 to $22.00 and gave the company a "buy" rating in a research report on Tuesday, February 11th. The Goldman Sachs Group reduced their target price on Similarweb from $13.00 to $10.00 and set a "buy" rating on the stock in a research report on Thursday, April 17th. Needham & Company LLC reaffirmed a "buy" rating and set a $14.00 target price on shares of Similarweb in a research report on Thursday, February 13th. Finally, JMP Securities reaffirmed a "market outperform" rating and set a $17.00 target price on shares of Similarweb in a research report on Thursday, February 13th. Nine equities research analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the company's stock. According to MarketBeat.com, the stock has a consensus rating of "Buy" and an average target price of $15.75.
Get Our Latest Stock Report on SMWB
Similarweb Stock Up 2.0%
Shares of NYSE:SMWB traded up $0.15 during trading on Wednesday, hitting $7.56. The stock had a trading volume of 231,407 shares, compared to its average volume of 450,526. Similarweb Ltd. has a 12-month low of $5.71 and a 12-month high of $17.64. The stock has a market capitalization of $624.60 million, a price-to-earnings ratio of -54.00 and a beta of 1.09. The stock has a 50-day simple moving average of $7.37 and a two-hundred day simple moving average of $10.87.
Similarweb (NYSE:SMWB - Get Free Report) last announced 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). Similarweb had a negative return on equity of 47.62% and a negative net margin of 4.58%. The firm had revenue of $67.09 million during the quarter, compared to analysts' expectations of $66.37 million. As a group, sell-side analysts forecast that Similarweb Ltd. will post -0.24 earnings per share for the current year.
Similarweb Company Profile
(
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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