Two Sigma Advisers LP Increases Stock Position in Similarweb Ltd. (NYSE:SMWB)

Two Sigma Advisers LP lifted its holdings in shares of Similarweb Ltd. (NYSE:SMWB) by 41.1% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 43,600 shares of the company’s stock after acquiring an additional 12,700 shares during the period. Two Sigma Advisers LP owned 0.05% of Similarweb worth $618,000 at the end of the most recent reporting period.

Other hedge funds have also modified their holdings of the company. Global Retirement Partners LLC purchased a new position in shares of Similarweb during the fourth quarter worth approximately $29,000. New York State Common Retirement Fund purchased a new position in shares of Similarweb during the fourth quarter worth approximately $39,000. KLP Kapitalforvaltning AS purchased a new position in shares of Similarweb during the fourth quarter worth approximately $115,000. Teacher Retirement System of Texas purchased a new position in shares of Similarweb during the fourth quarter worth approximately $153,000. Finally, Keybank National Association OH purchased a new position in shares of Similarweb during the fourth quarter worth approximately $161,000. 57.59% of the stock is currently owned by hedge funds and other institutional investors.

Similarweb Stock Performance

Similarweb stock opened at $7.40 on Wednesday. Similarweb Ltd. has a one year low of $5.71 and a one year high of $17.64. The business has a fifty day moving average of $7.39 and a two-hundred day moving average of $10.90. The company has a market cap of $611.05 million, a P/E ratio of -52.82 and a beta of 1.13.

Similarweb (NYSE:SMWB) last released its earnings results on Tuesday, May 13th. The company reported ($0.11) EPS for the quarter, missing analysts’ consensus estimates of ($0.02) by ($0.09). Similarweb had a negative net margin of 4.58% and a negative return on equity of 47.62%. The business had revenue of $67.09 million during the quarter, compared to analyst estimates of $66.37 million. Sell-side analysts predict that Similarweb Ltd. will post -0.24 EPS for the current year.

Analyst Ratings Changes

A number of equities analysts have recently issued reports on SMWB shares. Citigroup raised 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. The Goldman Sachs Group lowered their price objective on shares of Similarweb from $13.00 to $10.00 and set a “buy” rating on the stock in a research report on Thursday, April 17th. Barclays lowered their price objective on shares of Similarweb from $15.00 to $10.00 and set an “overweight” rating on the stock in a research report on Thursday, May 15th. Needham & Company LLC reiterated a “buy” rating and issued a $14.00 price objective on shares of Similarweb in a research report on Thursday, February 13th. Finally, JMP Securities reiterated a “market outperform” rating and issued a $17.00 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 stock. Based on data from MarketBeat, Similarweb currently has an average rating of “Buy” and an average price target 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.