JPMorgan Chase & Co. Buys 102,192 Shares of Similarweb Ltd. (NYSE:SMWB)

JPMorgan Chase & Co. lifted its stake in shares of Similarweb Ltd. (NYSE:SMWB) by 147.4% in the 3rd quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 171,539 shares of the company’s stock after acquiring an additional 102,192 shares during the quarter. JPMorgan Chase & Co. owned about 0.21% of Similarweb worth $1,516,000 as of its most recent filing with the SEC.

Other large investors also recently made changes to their positions in the company. Public Employees Retirement System of Ohio bought a new stake in Similarweb during the 3rd quarter valued at approximately $70,000. Quantbot Technologies LP bought a new stake in Similarweb during the 3rd quarter valued at approximately $75,000. State of New Jersey Common Pension Fund D bought a new stake in Similarweb during the 3rd quarter valued at approximately $122,000. Barclays PLC boosted its stake in Similarweb by 201.0% during the 3rd quarter. Barclays PLC now owns 15,414 shares of the company’s stock valued at $136,000 after purchasing an additional 10,293 shares during the period. Finally, Verition Fund Management LLC bought a new stake in Similarweb during the 3rd quarter valued at approximately $160,000. Institutional investors own 57.59% of the company’s stock.

Similarweb Stock Up 2.3 %

Shares of Similarweb stock opened at $16.00 on Friday. Similarweb Ltd. has a 12 month low of $5.71 and a 12 month high of $16.33. The business has a fifty day simple moving average of $13.78 and a 200 day simple moving average of $10.25. The stock has a market cap of $1.29 billion, a PE ratio of -145.42 and a beta of 0.97.

Similarweb (NYSE:SMWB) last posted its earnings results on Tuesday, November 12th. The company reported ($0.03) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.04 by ($0.07). Similarweb had a negative net margin of 3.92% and a negative return on equity of 44.83%. The business had revenue of $64.71 million during the quarter, compared to analyst estimates of $62.90 million. During the same period in the previous year, the firm posted ($0.05) earnings per share. Analysts expect that Similarweb Ltd. will post -0.05 EPS for the current fiscal year.

Analyst Ratings Changes

A number of analysts have commented on SMWB shares. The Goldman Sachs Group began coverage on Similarweb in a research report on Wednesday, December 11th. They issued a “buy” rating and a $16.00 price objective for the company. Citigroup increased their target price on Similarweb from $10.00 to $14.00 and gave the stock a “buy” rating in a report on Thursday, November 14th. William Blair reissued an “outperform” rating on shares of Similarweb in a report on Thursday, December 19th. Needham & Company LLC reissued a “buy” rating and issued a $14.00 target price on shares of Similarweb in a report on Thursday, January 16th. Finally, JMP Securities reissued a “market outperform” rating and issued a $17.00 target price on shares of Similarweb in a report on Wednesday, December 11th. Nine analysts have rated the stock with a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat, Similarweb currently has an average rating of “Buy” and a consensus price target of $13.50.

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.