Similarweb Ltd. (NYSE:SMWB) Shares Acquired by Renaissance Technologies LLC

Renaissance Technologies LLC grew its stake in Similarweb Ltd. (NYSE:SMWB) by 4.3% during the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 110,600 shares of the company’s stock after purchasing an additional 4,599 shares during the quarter. Renaissance Technologies LLC owned approximately 0.14% of Similarweb worth $859,000 as of its most recent SEC filing.

Several other institutional investors have also modified their holdings of the stock. Scalar Gauge Management LLC acquired a new position in Similarweb during the fourth quarter worth about $1,188,000. Counterpoint Mutual Funds LLC acquired a new position in Similarweb during the first quarter worth about $136,000. Essex Investment Management Co. LLC acquired a new position in Similarweb during the first quarter worth about $2,344,000. Oppenheimer & Co. Inc. acquired a new position in Similarweb during the first quarter worth about $654,000. Finally, Russell Investments Group Ltd. acquired a new position in Similarweb during the first quarter worth about $2,820,000. Institutional investors and hedge funds own 57.59% of the company’s stock.

Similarweb Stock Performance

Similarweb stock opened at $8.70 on Tuesday. The company’s 50 day simple moving average is $8.34 and its 200-day simple moving average is $7.93. The company has a market capitalization of $683.87 million, a price-to-earnings ratio of -34.40 and a beta of 0.84. Similarweb Ltd. has a 1 year low of $4.58 and a 1 year high of $9.76.

Similarweb (NYSE:SMWB) last released its quarterly earnings results on Tuesday, August 6th. The company reported ($0.01) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.05) by $0.04. The business had revenue of $60.64 million for the quarter, compared to the consensus estimate of $60.23 million. Similarweb had a negative net margin of 5.07% and a negative return on equity of 60.53%. Equities analysts expect that Similarweb Ltd. will post -0.04 earnings per share for the current year.

Wall Street Analyst Weigh In

A number of brokerages have commented on SMWB. William Blair reaffirmed an “outperform” rating on shares of Similarweb in a research note on Monday, September 9th. Barclays lifted their target price on shares of Similarweb from $9.00 to $10.00 and gave the stock an “overweight” rating in a research note on Thursday, August 8th. JMP Securities lifted their target price on shares of Similarweb from $14.00 to $16.00 and gave the stock a “market outperform” rating in a research note on Wednesday, August 21st. Cantor Fitzgerald reaffirmed an “overweight” rating and set a $10.00 target price on shares of Similarweb in a research note on Wednesday, August 7th. Finally, Northland Capmk raised shares of Similarweb to a “strong-buy” rating in a research note on Tuesday, September 10th. Seven analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, the company has an average rating of “Buy” and a consensus price target of $11.83.

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.