Cubist Systematic Strategies LLC Buys 2,138 Shares of Similarweb Ltd. (NYSE:SMWB)

Cubist Systematic Strategies LLC raised its position in shares of Similarweb Ltd. (NYSE:SMWB) by 4.4% in the second quarter, according to its most recent filing with the SEC. The firm owned 51,272 shares of the company’s stock after purchasing an additional 2,138 shares during the quarter. Cubist Systematic Strategies LLC owned approximately 0.07% of Similarweb worth $398,000 at the end of the most recent quarter.

Other hedge funds have also recently added to or reduced their stakes in the company. Russell Investments Group Ltd. bought a new position in shares of Similarweb in the 1st quarter worth about $2,820,000. Roubaix Capital LLC bought a new stake in Similarweb in the first quarter worth approximately $2,449,000. Acadian Asset Management LLC lifted its stake in Similarweb by 3,663.6% in the first quarter. Acadian Asset Management LLC now owns 275,417 shares of the company’s stock valued at $2,468,000 after buying an additional 268,099 shares during the period. Essex Investment Management Co. LLC bought a new position in shares of Similarweb during the 1st quarter worth approximately $2,344,000. Finally, Scalar Gauge Management LLC grew its position in shares of Similarweb by 56.8% during the 2nd quarter. Scalar Gauge Management LLC now owns 593,923 shares of the company’s stock worth $4,615,000 after buying an additional 215,221 shares during the period. Institutional investors own 57.59% of the company’s stock.

Similarweb Trading Up 3.5 %

Similarweb stock opened at $8.91 on Monday. The firm has a 50 day simple moving average of $8.58 and a 200 day simple moving average of $7.92. Similarweb Ltd. has a 1-year low of $4.58 and a 1-year high of $9.76. The firm has a market capitalization of $721.00 million, a price-to-earnings ratio of -63.64 and a beta of 0.84.

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

Analysts Set New Price Targets

Several research firms have weighed in on SMWB. Cantor Fitzgerald reaffirmed an “overweight” rating and issued a $10.00 price target on shares of Similarweb in a research note on Wednesday, August 7th. Barclays upped their price target on Similarweb from $9.00 to $10.00 and gave the stock an “overweight” rating in a research note on Thursday, August 8th. William Blair reissued an “outperform” rating on shares of Similarweb in a research note on Monday, September 9th. JMP Securities upped their target price on Similarweb from $14.00 to $16.00 and gave the stock a “market outperform” rating in a research report on Wednesday, August 21st. Finally, Northland Securities began coverage on shares of Similarweb in a research report on Tuesday, September 10th. They issued an “outperform” rating and a $15.00 price target for the company. Seven investment analysts have rated the stock with a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, Similarweb presently has a consensus rating of “Buy” and an average price target of $11.83.

About Similarweb

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.