Victory Capital Management Inc. Purchases New Position in Similarweb Ltd. (NYSE:SMWB)

Victory Capital Management Inc. acquired a new position in Similarweb Ltd. (NYSE:SMWB) during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor acquired 429,782 shares of the company’s stock, valued at approximately $6,090,000. Victory Capital Management Inc. owned 0.53% of Similarweb at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Connor Clark & Lunn Investment Management Ltd. raised its position in Similarweb by 112.7% in the 3rd quarter. Connor Clark & Lunn Investment Management Ltd. now owns 449,896 shares of the company’s stock worth $3,977,000 after purchasing an additional 238,428 shares during the period. State Street Corp raised its position in Similarweb by 32.5% in the 3rd quarter. State Street Corp now owns 187,919 shares of the company’s stock worth $1,661,000 after purchasing an additional 46,102 shares during the period. Y.D. More Investments Ltd raised its position 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 purchasing an additional 86,500 shares during the period. JPMorgan Chase & Co. raised its position in Similarweb by 147.4% in the 3rd quarter. JPMorgan Chase & Co. now owns 171,539 shares of the company’s stock worth $1,516,000 after purchasing an additional 102,192 shares during the period. Finally, Jennison Associates LLC purchased a new stake in Similarweb in the 4th quarter worth about $26,059,000. 57.59% of the stock is owned by hedge funds and other institutional investors.

Similarweb Stock Up 4.2 %

Shares of SMWB opened at $9.02 on Friday. The company has a market cap of $745.55 million, a price-to-earnings ratio of -64.45 and a beta of 1.08. Similarweb Ltd. has a twelve month low of $5.71 and a twelve month high of $17.64. The company has a 50 day moving average of $13.09 and a two-hundred day moving average of $11.49.

Similarweb (NYSE:SMWB) last announced its earnings results on Tuesday, February 11th. The company reported ($0.07) earnings per share for the quarter, missing the consensus estimate of $0.03 by ($0.10). Similarweb had a negative net margin of 4.58% and a negative return on equity of 47.62%. On average, sell-side analysts expect that Similarweb Ltd. will post -0.24 EPS for the current year.

Analyst Upgrades and Downgrades

SMWB has been the topic of a number of research reports. JMP Securities reaffirmed a “market outperform” rating and set a $17.00 target price on shares of Similarweb in a research report on Thursday, February 13th. Northland Securities raised their target price on shares of Similarweb from $17.00 to $20.00 and gave the stock an “outperform” rating in a research report on Friday, January 24th. Needham & Company LLC reaffirmed a “buy” rating and set a $14.00 target price on shares of Similarweb in a research report on Thursday, February 13th. Jefferies Financial Group raised their target price on shares of Similarweb from $13.00 to $23.00 and gave the stock a “buy” rating in a research report on Monday, February 3rd. Finally, The Goldman Sachs Group initiated coverage on shares of Similarweb in a research report on Wednesday, December 11th. They set a “buy” rating and a $16.00 target price on the stock. Nine analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, Similarweb currently has a consensus rating of “Buy” and an average price target of $16.50.

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.