Phoenix Financial Ltd. Decreases Holdings in Similarweb Ltd. (NYSE:SMWB)

Phoenix Financial Ltd. cut its holdings in Similarweb Ltd. (NYSE:SMWB) by 1.5% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 2,522,007 shares of the company’s stock after selling 37,496 shares during the quarter. Phoenix Financial Ltd. owned approximately 3.12% of Similarweb worth $35,737,000 at the end of the most recent quarter.

Several other hedge funds also recently bought and sold shares of the stock. Jennison Associates LLC acquired a new stake in shares of Similarweb during the 4th quarter worth $26,059,000. Y.D. More Investments Ltd grew its holdings in shares of Similarweb by 6.3% during the 4th quarter. Y.D. More Investments Ltd now owns 1,449,634 shares of the company’s stock worth $20,541,000 after purchasing an additional 86,500 shares during the period. Scalar Gauge Management LLC increased its position in Similarweb by 29.2% during the 4th quarter. Scalar Gauge Management LLC now owns 1,115,778 shares of the company’s stock worth $15,811,000 after purchasing an additional 251,855 shares in the last quarter. Connor Clark & Lunn Investment Management Ltd. raised its holdings in Similarweb by 50.6% in the fourth quarter. Connor Clark & Lunn Investment Management Ltd. now owns 677,465 shares of the company’s stock valued at $9,600,000 after buying an additional 227,569 shares during the period. Finally, Victory Capital Management Inc. purchased a new stake in Similarweb during the fourth quarter worth approximately $6,090,000. Hedge funds and other institutional investors own 57.59% of the company’s stock.

Wall Street Analyst Weigh In

Several research analysts have commented on SMWB shares. Citigroup raised their price objective on Similarweb from $14.00 to $22.00 and gave the company a “buy” rating in a research report on Tuesday, February 11th. Needham & Company LLC reaffirmed a “buy” rating and set a $14.00 price target on shares of Similarweb in a report on Thursday, February 13th. JMP Securities reiterated a “market outperform” rating and issued a $17.00 price target on shares of Similarweb in a research note on Thursday, February 13th. Jefferies Financial Group increased their target price on Similarweb from $13.00 to $23.00 and gave the company a “buy” rating in a research note on Monday, February 3rd. Finally, William Blair restated an “outperform” rating on shares of Similarweb in a research note on Thursday, December 19th. Nine equities research analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat, Similarweb currently has a consensus rating of “Buy” and a consensus target price of $16.13.

Similarweb Price Performance

Shares of NYSE SMWB opened at $7.32 on Thursday. The firm has a market capitalization of $604.77 million, a PE ratio of -52.28 and a beta of 1.12. Similarweb Ltd. has a 1-year low of $5.71 and a 1-year high of $17.64. The business’s fifty day moving average price is $10.13 and its two-hundred day moving average price is $11.39.

Similarweb (NYSE:SMWB) last released 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 return on equity of 47.62% and a negative net margin of 4.58%. Equities research analysts expect that Similarweb Ltd. will post -0.24 earnings per share 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.