Similarweb Ltd. (NYSE:SMWB) Stake Raised by Renaissance Technologies LLC

Renaissance Technologies LLC boosted its position in shares of Similarweb Ltd. (NYSE:SMWB - Free Report) by 17.2% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 380,873 shares of the company's stock after purchasing an additional 55,873 shares during the period. Renaissance Technologies LLC owned approximately 0.47% of Similarweb worth $5,397,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in SMWB. Jennison Associates LLC acquired a new stake in shares of Similarweb during the fourth quarter valued at about $26,059,000. Y.D. More Investments Ltd boosted its holdings in Similarweb by 6.3% in the fourth quarter. Y.D. More Investments Ltd now owns 1,449,634 shares of the company's stock valued at $20,541,000 after purchasing an additional 86,500 shares during the last quarter. Scalar Gauge Management LLC grew its stake in Similarweb by 29.2% during the 4th quarter. Scalar Gauge Management LLC now owns 1,115,778 shares of the company's stock valued at $15,811,000 after purchasing an additional 251,855 shares in the last quarter. Connor Clark & Lunn Investment Management Ltd. increased its holdings in Similarweb by 50.6% during the 4th quarter. Connor Clark & Lunn Investment Management Ltd. now owns 677,465 shares of the company's stock worth $9,600,000 after purchasing an additional 227,569 shares during the last quarter. Finally, Victory Capital Management Inc. acquired a new position in shares of Similarweb in the 4th quarter valued at approximately $6,090,000. Hedge funds and other institutional investors own 57.59% of the company's stock.

Similarweb Stock Up 0.9 %

SMWB stock traded up $0.07 during midday trading on Friday, reaching $7.70. The company had a trading volume of 124,403 shares, compared to its average volume of 391,692. The firm has a market capitalization of $635.75 million, a PE ratio of -54.96 and a beta of 1.12. The stock has a 50 day moving average price of $8.37 and a 200 day moving average price of $11.23. 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 released its quarterly earnings data on Tuesday, February 11th. The company reported ($0.07) earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $0.03 by ($0.10). Similarweb had a negative net margin of 4.58% and a negative return on equity of 47.62%. Research analysts predict that Similarweb Ltd. will post -0.24 EPS for the current year.

Analyst Ratings Changes

A number of analysts have recently weighed in on SMWB shares. Northland Securities raised their price target on shares of Similarweb from $17.00 to $20.00 and gave the stock an "outperform" rating in a research report on Friday, January 24th. Jefferies Financial Group raised their price objective on shares of Similarweb from $13.00 to $23.00 and gave the stock a "buy" rating in a report on Monday, February 3rd. Needham & Company LLC restated a "buy" rating and issued a $14.00 target price on shares of Similarweb in a research note on Thursday, February 13th. Citigroup increased their price target on shares of Similarweb from $14.00 to $22.00 and gave the stock a "buy" rating in a research report on Tuesday, February 11th. Finally, JMP Securities reissued a "market outperform" rating and issued a $17.00 price objective on shares of Similarweb in a report on Thursday, February 13th. Nine 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, Similarweb presently has an average rating of "Buy" and a consensus price target of $15.75.

Similarweb 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.