Squarepoint Ops LLC Reduces Position in Similarweb Ltd. (NYSE:SMWB)

Squarepoint Ops LLC decreased its stake in shares of Similarweb Ltd. (NYSE:SMWB - Free Report) by 67.9% in the 4th quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 38,638 shares of the company's stock after selling 81,752 shares during the period. Squarepoint Ops LLC's holdings in Similarweb were worth $548,000 at the end of the most recent reporting period.

Other hedge funds also recently bought and sold shares of the company. Jennison Associates LLC purchased a new stake in shares of Similarweb in the fourth quarter valued at $26,059,000. Schonfeld Strategic Advisors LLC purchased a new stake in shares of Similarweb in the fourth quarter valued at $22,536,000. T. Rowe Price Investment Management Inc. purchased a new stake in shares of Similarweb in the fourth quarter valued at $9,563,000. Victory Capital Management Inc. purchased a new stake in shares of Similarweb in the fourth quarter valued at $6,090,000. Finally, Next Century Growth Investors LLC grew its position in shares of Similarweb by 146.7% in the fourth quarter. Next Century Growth Investors LLC now owns 699,128 shares of the company's stock valued at $9,907,000 after purchasing an additional 415,792 shares during the period. Hedge funds and other institutional investors own 57.59% of the company's stock.

Wall Street Analysts Forecast Growth

SMWB has been the topic of a number of research analyst reports. Needham & Company LLC reiterated a "buy" rating and issued a $14.00 target price on shares of Similarweb in a report on Thursday, February 13th. Citigroup lifted their target price on Similarweb from $14.00 to $22.00 and gave the company a "buy" rating in a report on Tuesday, February 11th. JMP Securities reiterated a "market outperform" rating and issued a $17.00 target price on shares of Similarweb in a report on Thursday, February 13th. Barclays reduced their target price on Similarweb from $15.00 to $10.00 and set an "overweight" rating on the stock in a report on Thursday, May 15th. Finally, The Goldman Sachs Group reduced their target price on Similarweb from $13.00 to $10.00 and set a "buy" rating on the stock in a report on Thursday, April 17th. Nine equities research analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, the stock has a consensus rating of "Buy" and a consensus price target of $15.75.

Similarweb Trading Up 5.6%

Shares of SMWB traded up $0.43 during midday trading on Thursday, reaching $7.99. 521,000 shares of the company were exchanged, compared to its average volume of 450,807. The stock has a 50-day moving average price of $7.37 and a 200-day moving average price of $10.87. The company has a market cap of $659.80 million, a price-to-earnings ratio of -57.04 and a beta of 1.09. Similarweb Ltd. has a 1-year low of $5.71 and a 1-year high of $17.64.

Similarweb (NYSE:SMWB - Get Free Report) last issued its quarterly earnings data on Tuesday, May 13th. The company reported ($0.11) EPS for the quarter, missing analysts' consensus estimates of ($0.02) by ($0.09). The company had revenue of $67.09 million for the quarter, compared to analyst estimates of $66.37 million. Similarweb had a negative return on equity of 47.62% and a negative net margin of 4.58%. Equities research analysts anticipate that Similarweb Ltd. will post -0.24 earnings per share for the current year.

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.