674,822 Shares in Similarweb Ltd. (NYSE:SMWB) Bought by T. Rowe Price Investment Management Inc.

T. Rowe Price Investment Management Inc. purchased a new stake in shares of Similarweb Ltd. (NYSE:SMWB - Free Report) in the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm purchased 674,822 shares of the company's stock, valued at approximately $9,563,000. T. Rowe Price Investment Management Inc. owned about 0.83% of Similarweb at the end of the most recent quarter.

Other hedge funds have also bought and sold shares of the company. Jennison Associates LLC bought a new position in shares of Similarweb during the 4th quarter valued at approximately $26,059,000. Victory Capital Management Inc. bought a new position in Similarweb during the fourth quarter valued at $6,090,000. Next Century Growth Investors LLC increased its position in Similarweb by 146.7% in the fourth quarter. Next Century Growth Investors LLC now owns 699,128 shares of the company's stock worth $9,907,000 after buying an additional 415,792 shares during the last quarter. Telemark Asset Management LLC bought a new stake in shares of Similarweb in the fourth quarter valued at $4,251,000. Finally, Portolan Capital Management LLC purchased a new position in shares of Similarweb during the 4th quarter valued at $4,009,000. 57.59% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

Several brokerages recently weighed in on SMWB. 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. The Goldman Sachs Group lowered their price target on shares of Similarweb from $13.00 to $10.00 and set a "buy" rating on the stock in a research report on Thursday, April 17th. Needham & Company LLC reaffirmed a "buy" rating and issued a $14.00 price objective on shares of Similarweb in a report on Thursday, February 13th. Jefferies Financial Group boosted their target price on shares of Similarweb from $13.00 to $23.00 and gave the company a "buy" rating in a report on Monday, February 3rd. Finally, Citigroup raised their price target on Similarweb from $14.00 to $22.00 and gave the stock a "buy" rating in a report on Tuesday, February 11th. 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 data from MarketBeat, the company presently has an average rating of "Buy" and an average price target of $15.75.

Similarweb Stock Performance

Similarweb stock traded up $0.02 during midday trading on Friday, hitting $7.61. 250,645 shares of the company's stock were exchanged, compared to its average volume of 398,058. The company has a market cap of $628.73 million, a P/E ratio of -54.35 and a beta of 1.12. The stock has a 50-day moving average price of $8.10 and a two-hundred day moving average price of $11.20. 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 issued its quarterly earnings data on Tuesday, February 11th. The company reported ($0.07) EPS for the quarter, missing the consensus estimate of $0.03 by ($0.10). Similarweb had a negative return on equity of 47.62% and a negative net margin of 4.58%. As a group, sell-side analysts expect 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.