Telemark Asset Management LLC Buys Shares of 300,000 Similarweb Ltd. (NYSE:SMWB)

Telemark Asset Management LLC bought a new stake in Similarweb Ltd. (NYSE:SMWB) during the fourth quarter, according to the company in its most recent disclosure with the SEC. The firm bought 300,000 shares of the company’s stock, valued at approximately $4,251,000.

A number of other large investors have also recently modified their holdings of SMWB. Jennison Associates LLC acquired a new stake in shares of Similarweb in the 4th quarter valued at $26,059,000. Victory Capital Management Inc. bought a new position in shares of Similarweb in the 4th quarter valued at $6,090,000. Scalar Gauge Management LLC lifted its stake in shares of Similarweb by 45.5% in the 3rd quarter. Scalar Gauge Management LLC now owns 863,923 shares of the company’s stock valued at $7,637,000 after acquiring an additional 270,000 shares during the last quarter. Connor Clark & Lunn Investment Management Ltd. lifted its stake in shares of Similarweb by 112.7% in the 3rd quarter. Connor Clark & Lunn Investment Management Ltd. now owns 449,896 shares of the company’s stock valued at $3,977,000 after acquiring an additional 238,428 shares during the last quarter. Finally, Walleye Capital LLC lifted its stake in shares of Similarweb by 115.9% in the 3rd quarter. Walleye Capital LLC now owns 354,653 shares of the company’s stock valued at $3,135,000 after acquiring an additional 190,380 shares during the last quarter. Institutional investors and hedge funds own 57.59% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research analysts have recently commented on the company. The Goldman Sachs Group assumed coverage on Similarweb in a research note on Wednesday, December 11th. They issued a “buy” rating and a $16.00 price target for the company. Needham & Company LLC reiterated a “buy” rating and issued a $14.00 price target on shares of Similarweb in a research note on Thursday, February 13th. William Blair reiterated an “outperform” rating on shares of Similarweb in a research note on Thursday, December 19th. Northland Securities increased their price target on Similarweb from $17.00 to $20.00 and gave the company an “outperform” rating in a research note on Friday, January 24th. Finally, Citigroup raised their target price on Similarweb from $14.00 to $22.00 and gave the stock a “buy” rating in a research report on Tuesday, February 11th. Nine research analysts have rated the stock with a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat, the stock presently has an average rating of “Buy” and a consensus target price of $16.50.

Similarweb Stock Up 0.5 %

Shares of NYSE:SMWB opened at $8.86 on Thursday. The firm has a market cap of $732.25 million, a P/E ratio of -63.30 and a beta of 1.08. Similarweb Ltd. has a 12-month low of $5.71 and a 12-month high of $17.64. The business has a fifty day simple moving average of $13.30 and a 200 day simple moving average of $11.51.

Similarweb (NYSE:SMWB) last announced its quarterly earnings data on Tuesday, February 11th. The company reported ($0.07) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.03 by ($0.10). Similarweb had a negative net margin of 4.58% and a negative return on equity of 47.62%. As a group, equities research analysts expect that Similarweb Ltd. will post -0.24 EPS for the current year.

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.