BNP Paribas Financial Markets Makes New Investment in Similarweb Ltd. (NYSE:SMWB)

BNP Paribas Financial Markets acquired a new position in Similarweb Ltd. (NYSE:SMWB) during the fourth quarter, according to the company in its most recent filing with the SEC. The fund acquired 88,501 shares of the company’s stock, valued at approximately $1,254,000. BNP Paribas Financial Markets owned approximately 0.11% of Similarweb at the end of the most recent reporting period.

A number of other institutional investors have also recently added to or reduced their stakes in the company. Jennison Associates LLC acquired a new position in Similarweb in the 4th quarter worth $26,059,000. Schonfeld Strategic Advisors LLC acquired a new position in Similarweb in the 4th quarter worth $22,536,000. Y.D. More Investments Ltd lifted its holdings in 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 buying an additional 86,500 shares in the last quarter. Scalar Gauge Management LLC raised its stake in shares of Similarweb by 29.2% in the 4th quarter. Scalar Gauge Management LLC now owns 1,115,778 shares of the company’s stock valued at $15,811,000 after purchasing an additional 251,855 shares in the last quarter. Finally, S Squared Technology LLC raised its stake in shares of Similarweb by 2.8% in the 4th quarter. S Squared Technology LLC now owns 1,056,291 shares of the company’s stock valued at $14,968,000 after purchasing an additional 28,274 shares in the last quarter. Institutional investors and hedge funds own 57.59% of the company’s stock.

Similarweb Trading Up 0.3%

NYSE SMWB opened at $7.34 on Tuesday. Similarweb Ltd. has a 52 week low of $5.71 and a 52 week high of $17.64. The stock has a market cap of $606.42 million, a price-to-earnings ratio of -52.42 and a beta of 1.13. The company has a 50-day moving average price of $7.73 and a two-hundred day moving average price of $11.11.

Similarweb (NYSE:SMWB) last posted its earnings results on Tuesday, May 13th. The company reported ($0.11) EPS for the quarter, missing the consensus estimate of ($0.02) by ($0.09). Similarweb had a negative return on equity of 47.62% and a negative net margin of 4.58%. The firm had revenue of $67.09 million during the quarter, compared to the consensus estimate of $66.37 million. As a group, equities research analysts expect that Similarweb Ltd. will post -0.24 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of brokerages have recently issued reports on SMWB. Citigroup upped their target price on shares of Similarweb from $14.00 to $22.00 and gave the company a “buy” rating in a research note on Tuesday, February 11th. Northland Securities upped their target price on shares of Similarweb from $17.00 to $20.00 and gave the company an “outperform” rating in a research note on Friday, January 24th. Jefferies Financial Group upped their target price on shares of Similarweb from $13.00 to $23.00 and gave the company a “buy” rating in a research note on Monday, February 3rd. Barclays cut their target price on shares of Similarweb from $15.00 to $10.00 and set an “overweight” rating on the stock in a research note on Thursday, May 15th. Finally, The Goldman Sachs Group cut their target price on shares of Similarweb from $13.00 to $10.00 and set a “buy” rating on the stock in a research note on Thursday, April 17th. Nine research analysts have rated the stock with a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Buy” and an average target price of $15.75.

Similarweb Company 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.