JPMorgan Chase & Co. Boosts Stock Position in Similarweb Ltd. (NYSE:SMWB)

JPMorgan Chase & Co. grew its stake in shares of Similarweb Ltd. (NYSE:SMWB) by 9.4% in the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 187,644 shares of the company’s stock after acquiring an additional 16,105 shares during the period. JPMorgan Chase & Co. owned about 0.23% of Similarweb worth $2,659,000 at the end of the most recent reporting period.

A number of other large investors have also bought and sold shares of the company. State Street Corp grew its stake in Similarweb by 32.5% in the 3rd quarter. State Street Corp now owns 187,919 shares of the company’s stock valued at $1,661,000 after buying an additional 46,102 shares in the last quarter. Barclays PLC raised its holdings in shares of Similarweb by 201.0% in the 3rd quarter. Barclays PLC now owns 15,414 shares of the company’s stock valued at $136,000 after acquiring an additional 10,293 shares in the last quarter. International Assets Investment Management LLC bought a new stake in shares of Similarweb during the 4th quarter valued at about $154,000. Heck Capital Advisors LLC purchased a new position in shares of Similarweb during the fourth quarter worth about $115,000. Finally, Jennison Associates LLC bought a new position in shares of Similarweb in the fourth quarter worth approximately $26,059,000. 57.59% of the stock is owned by hedge funds and other institutional investors.

Similarweb Price Performance

SMWB opened at $6.74 on Wednesday. The stock’s 50 day simple moving average is $8.51 and its 200 day simple moving average is $11.27. The firm has a market cap of $557.10 million, a price-to-earnings ratio of -48.16 and a beta of 1.12. Similarweb Ltd. has a 1 year low of $5.71 and a 1 year high of $17.64.

Similarweb (NYSE:SMWB) last issued its 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 return on equity of 47.62% and a negative net margin of 4.58%. As a group, sell-side analysts anticipate that Similarweb Ltd. will post -0.24 EPS for the current year.

Wall Street Analyst Weigh In

Several equities research analysts have issued reports on the stock. JMP Securities reiterated a “market outperform” rating and set a $17.00 target price on shares of Similarweb in a research report on Thursday, February 13th. Citigroup lifted their price objective on shares of Similarweb from $14.00 to $22.00 and gave the stock a “buy” rating in a report on Tuesday, February 11th. Northland Securities increased their target price on Similarweb from $17.00 to $20.00 and gave the company an “outperform” rating in a research note on Friday, January 24th. The Goldman Sachs Group dropped their price target on Similarweb from $13.00 to $10.00 and set a “buy” rating for the company in a research note on Thursday, April 17th. Finally, Needham & Company LLC reiterated a “buy” rating and set a $14.00 price objective on shares of Similarweb in a research report on Thursday, February 13th. Nine investment 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, Similarweb currently has a consensus rating of “Buy” and a consensus price target of $15.75.

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.