Sphera Management Technology Funds Ltd Invests $2.33 Million in Similarweb Ltd. (NYSE:SMWB)

Sphera Management Technology Funds Ltd acquired a new position in shares of Similarweb Ltd. (NYSE:SMWB - Free Report) in the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The fund acquired 164,145 shares of the company's stock, valued at approximately $2,326,000. Similarweb accounts for about 1.3% of Sphera Management Technology Funds Ltd's holdings, making the stock its 16th largest position. Sphera Management Technology Funds Ltd owned approximately 0.20% of Similarweb at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also made changes to their positions in the business. Global Retirement Partners LLC acquired a new stake in Similarweb in the fourth quarter worth approximately $29,000. New York State Common Retirement Fund acquired a new stake in Similarweb in the fourth quarter worth approximately $39,000. Heck Capital Advisors LLC acquired a new stake in Similarweb in the fourth quarter worth approximately $115,000. KLP Kapitalforvaltning AS acquired a new stake in Similarweb in the fourth quarter worth approximately $115,000. Finally, Barclays PLC lifted its position in Similarweb by 201.0% in the third quarter. Barclays PLC now owns 15,414 shares of the company's stock worth $136,000 after purchasing an additional 10,293 shares during the period. 57.59% of the stock is currently owned by institutional investors and hedge funds.

Similarweb Trading Down 2.3%

NYSE:SMWB traded down $0.17 during trading hours on Wednesday, hitting $7.23. 662,440 shares of the stock traded hands, compared to its average volume of 425,386. The firm has a 50 day moving average price of $7.67 and a 200 day moving average price of $11.06. Similarweb Ltd. has a fifty-two week low of $5.71 and a fifty-two week high of $17.64. The firm has a market cap of $597.42 million, a price-to-earnings ratio of -51.65 and a beta of 1.13.

Similarweb (NYSE:SMWB - Get Free Report) last announced its earnings results 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 net margin of 4.58% and a negative return on equity of 47.62%. The firm had revenue of $67.09 million for the quarter, compared to analyst estimates of $66.37 million. Research analysts predict that Similarweb Ltd. will post -0.24 EPS for the current year.

Wall Street Analysts Forecast Growth

SMWB has been the subject of a number of research analyst reports. JMP Securities restated a "market outperform" rating and issued a $17.00 target price on shares of Similarweb in a research report on Thursday, February 13th. Citigroup upped their price target on Similarweb from $14.00 to $22.00 and gave the company a "buy" rating in a report on Tuesday, February 11th. Jefferies Financial Group upped their price target on Similarweb from $13.00 to $23.00 and gave the company a "buy" rating in a report on Monday, February 3rd. Northland Securities upped their price target on Similarweb from $17.00 to $20.00 and gave the company an "outperform" rating in a report on Friday, January 24th. Finally, Barclays dropped their price target on Similarweb from $15.00 to $10.00 and set an "overweight" rating on the stock in a report on Thursday, May 15th. Nine investment analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of "Buy" and a consensus target price of $15.75.

About Similarweb

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.