Scalar Gauge Management LLC Purchases 251,855 Shares of Similarweb Ltd. (NYSE:SMWB)

Scalar Gauge Management LLC boosted its position in Similarweb Ltd. (NYSE:SMWB) by 29.2% in the 4th quarter, according to its most recent filing with the SEC. The fund owned 1,115,778 shares of the company’s stock after purchasing an additional 251,855 shares during the period. Similarweb comprises 7.3% of Scalar Gauge Management LLC’s holdings, making the stock its 6th largest position. Scalar Gauge Management LLC owned about 1.38% of Similarweb worth $15,811,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also bought and sold shares of SMWB. State Street Corp increased its holdings in shares of Similarweb by 32.5% in the third quarter. State Street Corp now owns 187,919 shares of the company’s stock valued at $1,661,000 after purchasing an additional 46,102 shares during the last quarter. Y.D. More Investments Ltd grew its stake 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 valued at $20,541,000 after buying an additional 86,500 shares during the last quarter. JPMorgan Chase & Co. raised its holdings in Similarweb by 147.4% in the 3rd quarter. JPMorgan Chase & Co. now owns 171,539 shares of the company’s stock valued at $1,516,000 after acquiring an additional 102,192 shares during the period. Jennison Associates LLC acquired a new stake in Similarweb during the fourth quarter worth approximately $26,059,000. Finally, Telemark Asset Management LLC bought a new stake in shares of Similarweb during the fourth quarter worth approximately $4,251,000. Institutional investors own 57.59% of the company’s stock.

Analysts Set New Price Targets

SMWB has been the subject of several research reports. The Goldman Sachs Group dropped their price target on Similarweb from $15.00 to $13.00 and set a “buy” rating for the company in a report on Friday. Jefferies Financial Group boosted their target price on shares of Similarweb from $13.00 to $23.00 and gave the company a “buy” rating in a research report on Monday, February 3rd. Northland Securities raised their price target 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. JMP Securities reiterated a “market outperform” rating and issued a $17.00 price objective on shares of Similarweb in a research note on Thursday, February 13th. Finally, Citigroup increased their target price on shares of Similarweb from $14.00 to $22.00 and gave the stock a “buy” rating in a research report on Tuesday, February 11th. Nine investment analysts have rated the stock with a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of “Buy” and a consensus target price of $16.13.

Similarweb Trading Down 2.4 %

Shares of NYSE:SMWB opened at $8.39 on Monday. The stock has a market capitalization of $693.01 million, a PE ratio of -59.91 and a beta of 1.08. The firm has a 50 day moving average of $11.87 and a 200-day moving average of $11.50. Similarweb Ltd. has a 12 month low of $5.71 and a 12 month high of $17.64.

Similarweb (NYSE:SMWB) last released 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 return on equity of 47.62% and a negative net margin of 4.58%. On average, research analysts predict that Similarweb Ltd. will post -0.24 EPS for the current fiscal year.

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.