Phoenix Financial Ltd. Has $21.39 Million Position in Similarweb Ltd. (NYSE:SMWB)

Key Points

• Phoenix Financial Ltd. increased its stake in Similarweb Ltd. by 2.5%, owning 3.13% of the company worth approximately $21.39 million as of its latest SEC filing.
• Despite having earnings revenue of $67.09 million, Similarweb Ltd. reported a loss with earnings per share of ($0.11), missing analysts' estimates.
• Analysts have recently downgraded their price targets for Similarweb shares, with Goldman Sachs and Barclays both setting a new target of $10.00 after prior higher valuations.

Phoenix Financial Ltd. increased its holdings in shares of Similarweb Ltd. (NYSE:SMWB - Free Report) by 2.5% during the 1st quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 2,585,985 shares of the company's stock after acquiring an additional 63,978 shares during the period. Phoenix Financial Ltd. owned about 3.13% of Similarweb worth $21,386,000 at the end of the most recent reporting period.

Other institutional investors have also made changes to their positions in the company. Swiss National Bank boosted its position in Similarweb by 28.4% in the fourth quarter. Swiss National Bank now owns 80,974 shares of the company's stock valued at $1,147,000 after buying an additional 17,900 shares in the last quarter. Natixis Advisors LLC acquired a new position in Similarweb in the fourth quarter valued at about $255,000. Teacher Retirement System of Texas acquired a new position in Similarweb in the fourth quarter valued at about $153,000. Quantbot Technologies LP boosted its position in Similarweb by 247.3% in the fourth quarter. Quantbot Technologies LP now owns 29,652 shares of the company's stock valued at $420,000 after buying an additional 21,115 shares in the last quarter. Finally, Sei Investments Co. acquired a new position in Similarweb in the fourth quarter valued at about $966,000. 57.59% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of equities analysts have commented on SMWB shares. The Goldman Sachs Group reduced their price target on shares of Similarweb from $13.00 to $10.00 and set a "buy" rating on the stock in a research report on Thursday, April 17th. Barclays reduced their price target on shares of Similarweb from $15.00 to $10.00 and set an "overweight" rating on the stock in a research 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. According to data from MarketBeat.com, Similarweb currently has a consensus rating of "Buy" and an average price target of $15.75.

Similarweb Trading Down 4.4%

Shares of NYSE SMWB opened at $8.79 on Friday. Similarweb Ltd. has a 1-year low of $5.71 and a 1-year high of $17.64. The company has a market cap of $726.15 million, a PE ratio of -39.95 and a beta of 1.10. The company has a 50-day moving average of $7.98 and a two-hundred day moving average of $9.61.

Similarweb (NYSE:SMWB - Get Free Report) last announced its earnings results on Tuesday, May 13th. The company reported ($0.11) earnings per share for the quarter, missing analysts' consensus estimates of ($0.02) by ($0.09). Similarweb had a negative return on equity of 71.14% and a negative net margin of 6.97%. The company had revenue of $67.09 million during the quarter, compared to the consensus estimate of $66.37 million. As a group, equities research analysts forecast 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.

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