Similarweb Ltd. (NYSE:SMWB) Stake Increased by Meitav Investment House Ltd.

Meitav Investment House Ltd. raised its stake in shares of Similarweb Ltd. (NYSE:SMWB) by 17.0% during the fourth quarter, HoldingsChannel reports. The fund owned 12,846 shares of the company’s stock after acquiring an additional 1,870 shares during the quarter. Meitav Investment House Ltd.’s holdings in Similarweb were worth $182,000 as of its most recent SEC filing.

Several other hedge funds also recently added to or reduced their stakes in the stock. Connor Clark & Lunn Investment Management Ltd. lifted its position in shares of Similarweb by 112.7% during the third quarter. Connor Clark & Lunn Investment Management Ltd. now owns 449,896 shares of the company’s stock worth $3,977,000 after purchasing an additional 238,428 shares during the last quarter. State Street Corp lifted its holdings in Similarweb by 32.5% during the 3rd quarter. State Street Corp now owns 187,919 shares of the company’s stock worth $1,661,000 after buying an additional 46,102 shares during the last quarter. Y.D. More Investments Ltd grew its position in shares of Similarweb by 6.3% in the 4th quarter. Y.D. More Investments Ltd now owns 1,449,634 shares of the company’s stock worth $20,541,000 after acquiring an additional 86,500 shares in the last quarter. JPMorgan Chase & Co. grew its position in shares of Similarweb by 147.4% in the 3rd quarter. JPMorgan Chase & Co. now owns 171,539 shares of the company’s stock worth $1,516,000 after acquiring an additional 102,192 shares in the last quarter. Finally, Jennison Associates LLC bought a new stake in shares of Similarweb in the 4th quarter valued at approximately $26,059,000. 57.59% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of research firms have commented on SMWB. JMP Securities reaffirmed 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 began coverage on shares of Similarweb in a report on Wednesday, December 11th. They issued a “buy” rating and a $16.00 price target for the company. 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. Citigroup lifted their target price on Similarweb from $14.00 to $22.00 and gave the company a “buy” rating in a research note on Tuesday, February 11th. Finally, William Blair reiterated an “outperform” rating on shares of Similarweb in a research report on Thursday, December 19th. Nine equities research analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat, the stock has a consensus rating of “Buy” and an average target price of $16.50.

Similarweb Trading Down 2.1 %

Shares of NYSE:SMWB opened at $9.91 on Friday. The firm’s 50 day moving average is $14.64 and its two-hundred day moving average is $11.35. The firm has a market capitalization of $801.59 million, a P/E ratio of -70.75 and a beta of 0.99. Similarweb Ltd. has a 52 week low of $5.71 and a 52 week high of $17.64.

Similarweb (NYSE:SMWB) last announced its earnings results on Tuesday, February 11th. The company reported ($0.07) earnings per share for the quarter, missing the consensus estimate of $0.03 by ($0.10). Similarweb had a negative net margin of 4.58% and a negative return on equity of 47.62%. Analysts predict that Similarweb Ltd. will post -0.02 EPS 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.