Penn Capital Management Company LLC Purchases 1,233,928 Shares of Similarweb Ltd. $SMWB

Key Points

• Penn Capital Management raised its stake in Similarweb by 299.4%, purchasing an additional 1,233,928 shares to hold 1,646,094 shares (about 1.94% of the company) valued at roughly $15.32 million.
• Similarweb beat Q4 EPS estimates ($0.03 vs. $0.01) but missed revenue expectations ($72.76M vs. $76.45M) and reported a negative net margin (‑11.65%) and return on equity (‑70.38%), with analysts forecasting about ‑0.24 EPS for the year.
• SMWB shares opened at $2.81 (52‑week range $2.22–$10.75) with a market cap of ~$243.9M, and consensus analyst coverage is an average "Hold" rating with a $8.14 target amid several recent downgrades.

Penn Capital Management Company LLC boosted its holdings in shares of Similarweb Ltd. (NYSE:SMWB - Free Report) by 299.4% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,646,094 shares of the company's stock after acquiring an additional 1,233,928 shares during the period. Penn Capital Management Company LLC owned about 1.94% of Similarweb worth $15,321,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds have also recently modified their holdings of the company. New York State Common Retirement Fund purchased a new position in shares of Similarweb in the 3rd quarter worth approximately $7,903,000. Royce & Associates LP acquired a new stake in shares of Similarweb during the third quarter worth about $4,597,000. First Eagle Investment Management LLC boosted its position in Similarweb by 221.5% in the third quarter. First Eagle Investment Management LLC now owns 545,001 shares of the company's stock valued at $5,069,000 after buying an additional 375,496 shares during the last quarter. Portolan Capital Management LLC increased its holdings in Similarweb by 62.0% in the 3rd quarter. Portolan Capital Management LLC now owns 1,179,000 shares of the company's stock worth $10,965,000 after buying an additional 451,408 shares during the period. Finally, Jefferies Financial Group Inc. purchased a new position in Similarweb during the 2nd quarter worth approximately $282,000. Hedge funds and other institutional investors own 57.59% of the company's stock.

Similarweb Trading Up 3.1%

SMWB stock opened at $2.81 on Wednesday. Similarweb Ltd. has a 52 week low of $2.22 and a 52 week high of $10.75. The company has a market cap of $243.93 million, a P/E ratio of -7.19 and a beta of 1.17. The company's 50-day moving average price is $4.33 and its 200 day moving average price is $6.99.

Similarweb (NYSE:SMWB - Get Free Report) last released its earnings results on Tuesday, February 17th. The company reported $0.03 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.01 by $0.02. Similarweb had a negative net margin of 11.65% and a negative return on equity of 70.38%. The company had revenue of $72.76 million for the quarter, compared to analyst estimates of $76.45 million. On average, equities research analysts expect that Similarweb Ltd. will post -0.24 earnings per share for the current year.

Analyst Upgrades and Downgrades

Several research analysts recently weighed in on the stock. Citigroup reduced their price target on shares of Similarweb from $11.00 to $8.50 and set a "buy" rating for the company in a research report on Friday, February 20th. Northland Securities cut Similarweb from an "outperform" rating to a "market perform" rating and set a $5.00 target price for the company. in a report on Wednesday, February 18th. William Blair lowered Similarweb from an "outperform" rating to a "market perform" rating in a research note on Wednesday, February 18th. The Goldman Sachs Group lowered Similarweb from a "buy" rating to a "neutral" rating and set a $7.50 price objective for the company. in a research report on Tuesday, January 13th. Finally, Needham & Company LLC cut shares of Similarweb from a "buy" rating to a "hold" rating in a report on Wednesday, February 18th. Four analysts have rated the stock with a Buy rating, six have issued a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat, Similarweb presently has an average rating of "Hold" and an average target price of $8.14.

Similarweb Profile

Similarweb Ltd. NYSE: SMWB is a digital intelligence company that provides insights into website and mobile app performance. Its cloud-based platform aggregates and analyzes data on global web traffic, user engagement, and referral sources, enabling businesses to benchmark their digital presence against competitors. The company’s core offering includes metrics on audience behavior, traffic acquisition channels, and industry trends, which are designed to inform strategic decisions in marketing, sales, and product development.

Similarweb’s platform delivers a suite of tools for market research, competitor analysis, and performance optimization.

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