Similarweb Ltd. (NYSE:SMWB) Shares Acquired by Victory Capital Management Inc.

Key Points

• Victory Capital Management Inc. increased its stake in Similarweb Ltd. by 14.8% in Q1, now holding 493,370 shares valued at approximately $4.08 million.
• Similarweb reported a loss of $0.11 per share for Q1, missing analyst expectations, but had a revenue of $67.09 million, surpassing estimates.
• Barclays and Goldman Sachs both reduced their target price for Similarweb shares to $10.00, while the stock currently has an average price target of $15.75 from analysts.

Victory Capital Management Inc. grew its stake in Similarweb Ltd. (NYSE:SMWB - Free Report) by 14.8% during the 1st quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 493,370 shares of the company's stock after acquiring an additional 63,588 shares during the quarter. Victory Capital Management Inc. owned about 0.60% of Similarweb worth $4,080,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also made changes to their positions in the company. KLP Kapitalforvaltning AS purchased a new stake in shares of Similarweb in the fourth quarter valued at $115,000. Heck Capital Advisors LLC acquired a new position in Similarweb in the fourth quarter valued at $115,000. Fullcircle Wealth LLC acquired a new position in Similarweb in the first quarter valued at $117,000. Public Employees Retirement System of Ohio increased its stake in Similarweb by 25.3% in the fourth quarter. Public Employees Retirement System of Ohio now owns 9,900 shares of the company's stock valued at $140,000 after purchasing an additional 2,000 shares during the last quarter. Finally, Teacher Retirement System of Texas increased its stake in Similarweb by 70.1% in the first quarter. Teacher Retirement System of Texas now owns 18,362 shares of the company's stock valued at $152,000 after purchasing an additional 7,566 shares during the last quarter. 57.59% of the stock is currently owned by hedge funds and other institutional investors.

Similarweb Trading Down 0.4%

NYSE:SMWB traded down $0.03 on Thursday, hitting $8.53. 34,217 shares of the stock were exchanged, compared to its average volume of 610,462. The stock has a market cap of $723.94 million, a PE ratio of -38.77 and a beta of 1.10. The stock has a fifty day moving average of $8.09 and a 200-day moving average of $9.44. Similarweb Ltd. has a fifty-two week low of $5.71 and a fifty-two week high of $17.64.

Similarweb (NYSE:SMWB - Get Free Report) last announced its quarterly earnings results on Tuesday, May 13th. The company reported ($0.11) EPS for the quarter, missing the consensus estimate 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 firm had revenue of $67.09 million for the quarter, compared to analyst estimates of $66.37 million. As a group, analysts predict that Similarweb Ltd. will post -0.24 earnings per share for the current year.

Wall Street Analyst Weigh In

Several research firms recently commented on SMWB. The Goldman Sachs Group dropped their target price on Similarweb from $13.00 to $10.00 and set a "buy" rating for the company in a research note on Thursday, April 17th. Barclays dropped 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. Nine research analysts have rated the stock with a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of "Buy" and a consensus price target of $15.75.

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.