Renaissance Technologies LLC grew its stake in Similarweb Ltd. (NYSE:SMWB – Free Report) 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.
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.
View Our Latest Report on SMWB
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.
Featured Articles
- Five stocks we like better than Similarweb
- Top Biotech Stocks: Exploring Innovation Opportunities
- Ciena Stock Powers the AI Cloud Boom—Don’t Miss Out
- What Makes a Stock a Good Dividend Stock?
- Affirm’s Path to Profitability Elevates with Interest Rate Cuts
- Insider Selling Explained: Can it Inform Your Investing Choices?
- RPM International Thrives in Rate-Cut Driven Construction Rally
Receive News & Ratings for Similarweb Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Similarweb and related companies with MarketBeat.com's FREE daily email newsletter.