Essex Investment Management Co. LLC Sells 40,529 Shares of Similarweb Ltd. (NYSE:SMWB)
Essex Investment Management Co. LLC reduced its stake in Similarweb Ltd. (NYSE:SMWB) by 13.3% in Q4, selling 40,529 shares, leaving it with 264,820 shares valued at $3.75 million. Other institutional investors also adjusted their positions. Analysts have set new price targets for SMWB, with Jefferies raising it to $23.00 and Citigroup to $22.00, while the stock currently has a consensus rating of "Buy" and a target price of $16.50. Similarweb reported a loss of $0.07 EPS in its latest earnings release.
Essex Investment Management Co. LLC reduced its holdings in shares of Similarweb Ltd. (NYSE:SMWB - Free Report) by 13.3% in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 264,820 shares of the company's stock after selling 40,529 shares during the quarter. Essex Investment Management Co. LLC owned approximately 0.33% of Similarweb worth $3,752,000 as of its most recent SEC filing.
Several other hedge funds and other institutional investors also recently made changes to their positions in the business. Victory Capital Management Inc. bought a new position in shares of Similarweb during the 4th quarter worth approximately $6,090,000. Keybank National Association OH bought a new position in shares of Similarweb during the 4th quarter worth approximately $161,000. Bailard Inc. acquired a new stake in Similarweb during the 4th quarter worth approximately $644,000. Oppenheimer & Co. Inc. lifted its holdings in Similarweb by 4.3% during the 4th quarter. Oppenheimer & Co. Inc. now owns 111,149 shares of the company's stock worth $1,575,000 after purchasing an additional 4,542 shares during the last quarter. Finally, Meitav Investment House Ltd. lifted its holdings in Similarweb by 17.0% during the 4th quarter. Meitav Investment House Ltd. now owns 12,846 shares of the company's stock worth $182,000 after purchasing an additional 1,870 shares during the last quarter. 57.59% of the stock is currently owned by institutional investors.
Analysts Set New Price Targets
SMWB has been the subject of several research reports. William Blair reissued an "outperform" rating on shares of Similarweb in a report on Thursday, December 19th. Jefferies Financial Group lifted their price target on Similarweb from $13.00 to $23.00 and gave the stock a "buy" rating in a report on Monday, February 3rd. Northland Securities lifted their price target on Similarweb from $17.00 to $20.00 and gave the stock an "outperform" rating in a report on Friday, January 24th. Needham & Company LLC reissued a "buy" rating and set a $14.00 price target on shares of Similarweb in a report on Thursday, February 13th. Finally, Citigroup lifted 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 stock. According to data from MarketBeat, the stock currently has a consensus rating of "Buy" and a consensus target price of $16.50.
Read Our Latest Analysis on SMWB
Similarweb Stock Performance
SMWB opened at $9.07 on Friday. The firm has a market cap of $749.60 million, a P/E ratio of -64.80 and a beta of 1.08. Similarweb Ltd. has a 52-week low of $5.71 and a 52-week high of $17.64. The business's fifty day moving average is $13.62 and its 200-day moving average is $11.51.
Similarweb (NYSE:SMWB - Get Free Report) last released its quarterly earnings data 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%. On average, research analysts predict that Similarweb Ltd. will post -0.24 earnings per share for the current fiscal year.
About Similarweb
(Free Report)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.
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