Renaissance Technologies LLC Increases Stock Position in Similarweb Ltd. (NYSE:SMWB)

Renaissance Technologies LLC increased its position in Similarweb Ltd. (NYSE:SMWB) by 17.2% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 380,873 shares of the company’s stock after buying an additional 55,873 shares during the quarter. Renaissance Technologies LLC owned about 0.47% of Similarweb worth $5,397,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Global Retirement Partners LLC purchased a new position in shares of Similarweb in the 4th quarter worth about $29,000. New York State Common Retirement Fund purchased a new position in Similarweb in the fourth quarter valued at approximately $39,000. Public Employees Retirement System of Ohio acquired a new position in Similarweb during the third quarter valued at approximately $70,000. Heck Capital Advisors LLC purchased a new stake in Similarweb during the fourth quarter worth approximately $115,000. Finally, KLP Kapitalforvaltning AS purchased a new stake in Similarweb during the fourth quarter worth approximately $115,000. Institutional investors and hedge funds own 57.59% of the company’s stock.

Wall Street Analyst Weigh In

Several equities analysts recently weighed in on SMWB shares. The Goldman Sachs Group reduced their target price on shares of Similarweb from $13.00 to $10.00 and set a “buy” rating on the stock in a report on Thursday. Needham & Company LLC reaffirmed a “buy” rating and issued a $14.00 target price on shares of Similarweb in a research report on Thursday, February 13th. Jefferies Financial Group raised their target price on Similarweb from $13.00 to $23.00 and gave the company a “buy” rating in a report on Monday, February 3rd. Northland Securities increased their price objective on shares of Similarweb from $17.00 to $20.00 and gave the company an “outperform” rating in a research report on Friday, January 24th. Finally, Citigroup boosted their target price 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. Nine analysts have rated the stock with a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, Similarweb has a consensus rating of “Buy” and a consensus target price of $15.75.

Similarweb Stock Performance

NYSE:SMWB opened at $6.79 on Monday. The company has a market capitalization of $560.98 million, a price-to-earnings ratio of -48.50 and a beta of 1.12. Similarweb Ltd. has a one year low of $5.71 and a one year high of $17.64. The stock has a 50-day simple moving average of $8.69 and a 200 day simple moving average of $11.31.

Similarweb (NYSE:SMWB) last posted its quarterly earnings results on Tuesday, February 11th. The company reported ($0.07) earnings per share (EPS) 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, equities research analysts forecast that Similarweb Ltd. will post -0.24 EPS for the current fiscal 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.