Y Intercept Hong Kong Ltd Buys New Stake in Similarweb Ltd. (NYSE:SMWB)

Y Intercept Hong Kong Ltd bought a new position in Similarweb Ltd. (NYSE:SMWB - Free Report) during the 1st quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm bought 31,219 shares of the company's stock, valued at approximately $258,000.

Other institutional investors and hedge funds have also recently made changes to their positions in the company. KLP Kapitalforvaltning AS bought a new stake in shares of Similarweb during the 4th quarter valued at $115,000. Heck Capital Advisors LLC bought a new stake in shares of Similarweb during the 4th quarter valued at $115,000. Public Employees Retirement System of Ohio boosted its holdings in shares of Similarweb by 25.3% during the 4th quarter. Public Employees Retirement System of Ohio now owns 9,900 shares of the company's stock valued at $140,000 after buying an additional 2,000 shares in the last quarter. Teacher Retirement System of Texas purchased a new position in shares of Similarweb in the 4th quarter worth about $153,000. Finally, Freedom Investment Management Inc. purchased a new position in shares of Similarweb in the 4th quarter worth about $191,000. Institutional investors own 57.59% of the company's stock.

Wall Street Analysts Forecast Growth

Several equities analysts have recently issued reports on the company. The Goldman Sachs Group lowered their price target on Similarweb from $13.00 to $10.00 and set a "buy" rating for the company in a research report on Thursday, April 17th. Barclays lowered their price target on Similarweb from $15.00 to $10.00 and set an "overweight" rating for the company in a research report on Thursday, May 15th. Finally, Citigroup lowered their price target on Similarweb from $13.00 to $11.00 and set a "buy" rating for the company in a research report on Friday. 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 stock presently has a consensus rating of "Buy" and a consensus target price of $14.38.

Similarweb Price Performance

SMWB traded down $0.44 during midday trading on Friday, hitting $7.92. 627,585 shares of the company traded hands, compared to its average volume of 413,179. The company's 50-day moving average is $8.11 and its 200 day moving average is $9.40. 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 released 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 net margin of 6.97% and a negative return on equity of 71.14%. The business had revenue of $67.09 million for the quarter, compared to analysts' expectations of $66.37 million. As a group, 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.