Essex Investment Management Co. LLC Raises Holdings in Similarweb Ltd. $SMWB

Essex Investment Management Co. LLC raised its stake in Similarweb Ltd. (NYSE:SMWB) by 45.9% during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 380,793 shares of the company’s stock after purchasing an additional 119,866 shares during the period. Essex Investment Management Co. LLC’s holdings in Similarweb were worth $3,541,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds and other institutional investors have also made changes to their positions in the stock. Migdal Insurance & Financial Holdings Ltd. grew its position in shares of Similarweb by 3.3% during the third quarter. Migdal Insurance & Financial Holdings Ltd. now owns 3,106,157 shares of the company’s stock worth $28,887,000 after buying an additional 100,000 shares in the last quarter. Menora Mivtachim Holdings LTD. grew its holdings in Similarweb by 3.6% during the 2nd quarter. Menora Mivtachim Holdings LTD. now owns 2,326,742 shares of the company’s stock worth $18,242,000 after acquiring an additional 80,272 shares in the last quarter. CenterBook Partners LP grew its holdings in Similarweb by 78.5% during the 2nd quarter. CenterBook Partners LP now owns 1,441,810 shares of the company’s stock worth $11,304,000 after acquiring an additional 634,114 shares in the last quarter. Connor Clark & Lunn Investment Management Ltd. increased its position in shares of Similarweb by 14.2% in the 2nd quarter. Connor Clark & Lunn Investment Management Ltd. now owns 920,671 shares of the company’s stock valued at $7,218,000 after purchasing an additional 114,497 shares during the last quarter. Finally, New York State Common Retirement Fund acquired a new stake in shares of Similarweb in the 3rd quarter valued at $7,903,000. Hedge funds and other institutional investors own 57.59% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities analysts recently commented on the stock. Barclays lowered their target price on shares of Similarweb from $12.00 to $10.00 and set an “overweight” rating for the company in a research note on Monday, January 12th. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Similarweb in a research report on Monday, December 29th. Citigroup reiterated a “market outperform” rating on shares of Similarweb in a report on Monday, December 15th. Jefferies Financial Group restated a “buy” rating and set a $11.00 target price on shares of Similarweb in a research note on Friday, November 14th. Finally, Oppenheimer lowered their price target on Similarweb from $10.00 to $7.00 and set an “outperform” rating for the company in a report on Wednesday, February 4th. Six equities research analysts have rated the stock with a Buy rating, two have assigned a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat.com, Similarweb has an average rating of “Moderate Buy” and a consensus target price of $11.07.

Similarweb Stock Performance

SMWB opened at $4.66 on Tuesday. The business’s 50-day simple moving average is $6.59 and its 200-day simple moving average is $7.99. Similarweb Ltd. has a one year low of $4.10 and a one year high of $17.64. The stock has a market capitalization of $395.49 million, a P/E ratio of -12.59 and a beta of 1.09.

Similarweb (NYSE:SMWB) last announced its earnings results on Tuesday, November 11th. The company reported $0.05 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.02 by $0.03. The firm had revenue of $71.79 million during the quarter, compared to analysts’ expectations of $71.95 million. Similarweb had a negative return on equity of 78.25% and a negative net margin of 11.20%. On average, equities research analysts forecast that Similarweb Ltd. will post -0.24 EPS for the current fiscal year.

Similarweb Profile

Similarweb Ltd. (NYSE: SMWB) is a digital intelligence company that provides insights into website and mobile app performance. Its cloud-based platform aggregates and analyzes data on global web traffic, user engagement, and referral sources, enabling businesses to benchmark their digital presence against competitors. The company’s core offering includes metrics on audience behavior, traffic acquisition channels, and industry trends, which are designed to inform strategic decisions in marketing, sales, and product development.

Similarweb’s platform delivers a suite of tools for market research, competitor analysis, and performance optimization.