Tidal Investments LLC Makes New $576,000 Investment in Similarweb Ltd. (NYSE:SMWB)

Tidal Investments LLC acquired a new position in Similarweb Ltd. (NYSE:SMWB - Free Report) in the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor acquired 40,641 shares of the company's stock, valued at approximately $576,000. Tidal Investments LLC owned approximately 0.05% of Similarweb at the end of the most recent quarter.

Several other institutional investors and hedge funds have also added to or reduced their stakes in the company. Global Retirement Partners LLC bought a new position in Similarweb during the 4th quarter valued at approximately $29,000. New York State Common Retirement Fund purchased a new stake in shares of Similarweb in the fourth quarter worth $39,000. Heck Capital Advisors LLC bought a new position in shares of Similarweb during the fourth quarter valued at $115,000. KLP Kapitalforvaltning AS bought a new position in shares of Similarweb during the fourth quarter valued at $115,000. Finally, Teacher Retirement System of Texas purchased a new position in shares of Similarweb in the 4th quarter worth about $153,000. Hedge funds and other institutional investors own 57.59% of the company's stock.

Analyst Upgrades and Downgrades

SMWB has been the topic of several recent analyst reports. Barclays cut their price objective 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. Needham & Company LLC reaffirmed a "buy" rating and set a $14.00 price target on shares of Similarweb in a report on Thursday, February 13th. The Goldman Sachs Group dropped their price objective on Similarweb from $13.00 to $10.00 and set a "buy" rating on the stock in a research report on Thursday, April 17th. JMP Securities reissued a "market outperform" rating and issued a $17.00 target price on shares of Similarweb in a research report on Thursday, February 13th. Finally, Citigroup increased their price objective on shares of Similarweb from $14.00 to $22.00 and gave the company a "buy" rating in a research report on Tuesday, February 11th. 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 data from MarketBeat, the company has an average rating of "Buy" and a consensus price target of $15.75.

Similarweb Price Performance

Shares of NYSE:SMWB traded up $0.01 during trading on Friday, hitting $7.42. The company's stock had a trading volume of 849,030 shares, compared to its average volume of 447,910. The company has a 50-day moving average of $7.44 and a 200-day moving average of $10.96. The firm has a market cap of $613.03 million, a price-to-earnings ratio of -53.00 and a beta of 1.13. Similarweb Ltd. has a 12 month low of $5.71 and a 12 month high of $17.64.

Similarweb (NYSE:SMWB - Get Free Report) last released its quarterly earnings results on Tuesday, May 13th. The company reported ($0.11) earnings per share for the quarter, missing the consensus estimate of ($0.02) by ($0.09). Similarweb had a negative return on equity of 47.62% and a negative net margin of 4.58%. The business had revenue of $67.09 million during the quarter, compared to the consensus estimate of $66.37 million. As a group, research analysts anticipate that Similarweb Ltd. will post -0.24 earnings per share 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.