Phoenix Financial Ltd. Has $21.39 Million Stake 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. grew its holdings in Similarweb Ltd. (NYSE:SMWB - Free Report) by 2.5% in the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 2,585,985 shares of the company's stock after acquiring an additional 63,978 shares during the quarter. Phoenix Financial Ltd. owned 3.13% of Similarweb worth $21,386,000 at the end of the most recent reporting period.

Several other large investors also recently modified their holdings of the business. Public Employees Retirement System of Ohio increased its holdings in shares of Similarweb by 25.3% in the fourth quarter. Public Employees Retirement System of Ohio now owns 9,900 shares of the company's stock worth $140,000 after acquiring an additional 2,000 shares in the last quarter. Legal & General Group Plc grew its holdings in shares of Similarweb by 21.7% during the fourth quarter. Legal & General Group Plc now owns 39,371 shares of the company's stock worth $558,000 after buying an additional 7,020 shares in the last quarter. Teacher Retirement System of Texas grew its holdings in shares of Similarweb by 70.1% during the first quarter. Teacher Retirement System of Texas now owns 18,362 shares of the company's stock worth $152,000 after buying an additional 7,566 shares in the last quarter. KLP Kapitalforvaltning AS bought a new position in shares of Similarweb during the fourth quarter worth about $115,000. Finally, Heck Capital Advisors LLC bought a new position in shares of Similarweb during the fourth quarter worth about $115,000. 57.59% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

A number of research analysts recently issued reports on SMWB shares. Barclays decreased their price objective on Similarweb from $15.00 to $10.00 and set an "overweight" rating for the company in a report on Thursday, May 15th. The Goldman Sachs Group decreased their price objective on Similarweb from $13.00 to $10.00 and set a "buy" rating for the company in a report on Thursday, April 17th. Nine investment analysts have rated the stock with a buy rating and one has given a strong buy rating to the company's stock. According to MarketBeat.com, Similarweb currently has an average rating of "Buy" and a consensus price target of $15.75.

Similarweb Price Performance

SMWB stock traded down $0.20 during mid-day trading on Tuesday, reaching $8.65. The company had a trading volume of 66,020 shares, compared to its average volume of 615,718. The stock has a 50 day simple moving average of $8.04 and a two-hundred day simple moving average of $9.45. The company has a market capitalization of $733.68 million, a price-to-earnings ratio of -39.29 and a beta of 1.10. Similarweb Ltd. has a 52 week low of $5.71 and a 52 week high of $17.64.

Similarweb (NYSE:SMWB - Get Free Report) last posted its quarterly 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). The company had revenue of $67.09 million during the quarter, compared to the consensus estimate of $66.37 million. Similarweb had a negative net margin of 6.97% and a negative return on equity of 71.14%. On average, equities analysts predict that Similarweb Ltd. will post -0.24 EPS for the current year.

Similarweb Company 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.