Schonfeld Strategic Advisors LLC Invests $22.54 Million in Similarweb Ltd. (NYSE:SMWB)

Schonfeld Strategic Advisors LLC bought a new stake in shares of Similarweb Ltd. (NYSE:SMWB - Free Report) in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The fund bought 1,590,391 shares of the company's stock, valued at approximately $22,536,000. Schonfeld Strategic Advisors LLC owned about 1.97% of Similarweb at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently modified their holdings of the company. State Street Corp increased its position in Similarweb by 32.5% during the third quarter. State Street Corp now owns 187,919 shares of the company's stock valued at $1,661,000 after acquiring an additional 46,102 shares during the last quarter. Barclays PLC grew its stake in shares of Similarweb by 201.0% during the 3rd quarter. Barclays PLC now owns 15,414 shares of the company's stock valued at $136,000 after purchasing an additional 10,293 shares during the period. JPMorgan Chase & Co. increased its position in shares of Similarweb by 147.4% during the 3rd quarter. JPMorgan Chase & Co. now owns 171,539 shares of the company's stock valued at $1,516,000 after purchasing an additional 102,192 shares during the last quarter. International Assets Investment Management LLC bought a new position in shares of Similarweb in the 4th quarter worth approximately $154,000. Finally, Heck Capital Advisors LLC purchased a new position in shares of Similarweb in the fourth quarter worth approximately $115,000. 57.59% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of analysts have commented on SMWB shares. JMP Securities reaffirmed a "market outperform" rating and set a $17.00 target price on shares of Similarweb in a report on Thursday, February 13th. Northland Securities raised their target price on Similarweb from $17.00 to $20.00 and gave the stock an "outperform" rating in a report on Friday, January 24th. The Goldman Sachs Group cut their price target on Similarweb from $13.00 to $10.00 and set a "buy" rating for the company in a report on Thursday, April 17th. Jefferies Financial Group raised their price objective on Similarweb from $13.00 to $23.00 and gave the stock a "buy" rating in a research note on Monday, February 3rd. Finally, Needham & Company LLC reiterated a "buy" rating and set a $14.00 price objective on shares of Similarweb in a research note on Thursday, February 13th. Nine equities research analysts have rated the stock with a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, the company presently has an average rating of "Buy" and an average price target of $15.75.

Similarweb Stock Performance

Shares of Similarweb stock traded up $0.02 on Friday, hitting $7.61. 250,645 shares of the company traded hands, compared to its average volume of 396,805. The business has a 50-day simple moving average of $8.10 and a 200 day simple moving average of $11.18. Similarweb Ltd. has a 52 week low of $5.71 and a 52 week high of $17.64. The stock has a market capitalization of $628.73 million, a P/E ratio of -54.35 and a beta of 1.12.

Similarweb (NYSE:SMWB - Get Free Report) last announced its quarterly earnings results 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 expect that Similarweb Ltd. will post -0.24 earnings per share for the current year.

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.