Panoramic Capital LLC Takes Position in Similarweb Ltd. (NYSE:SMWB)

Panoramic Capital LLC purchased a new stake in Similarweb Ltd. (NYSE:SMWB) in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor purchased 125,000 shares of the company’s stock, valued at approximately $1,771,000. Similarweb accounts for about 0.9% of Panoramic Capital LLC’s holdings, making the stock its 25th largest position.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Meitav Investment House Ltd. grew its stake in Similarweb by 17.0% during the fourth quarter. Meitav Investment House Ltd. now owns 12,846 shares of the company’s stock worth $182,000 after purchasing an additional 1,870 shares during the period. Global Retirement Partners LLC acquired a new stake in Similarweb during the fourth quarter worth approximately $29,000. New York State Common Retirement Fund acquired a new stake in Similarweb during the fourth quarter worth approximately $39,000. Oppenheimer & Co. Inc. grew its stake in Similarweb by 4.3% during the fourth quarter. Oppenheimer & Co. Inc. now owns 111,149 shares of the company’s stock worth $1,575,000 after purchasing an additional 4,542 shares during the period. Finally, ANTIPODES PARTNERS Ltd grew its stake in Similarweb by 52.2% during the fourth quarter. ANTIPODES PARTNERS Ltd now owns 16,166 shares of the company’s stock worth $229,000 after purchasing an additional 5,542 shares during the period. Institutional investors and hedge funds own 57.59% of the company’s stock.

Similarweb Stock Performance

Shares of NYSE:SMWB opened at $8.04 on Wednesday. The business’s 50 day simple moving average is $7.85 and its two-hundred day simple moving average is $11.14. The firm has a market cap of $664.26 million, a P/E ratio of -57.42 and a beta of 1.13. Similarweb Ltd. has a 52-week low of $5.71 and a 52-week high of $17.64.

Similarweb (NYSE:SMWB) last posted its earnings results on Tuesday, May 13th. The company reported ($0.11) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.02) by ($0.09). Similarweb had a negative net margin of 4.58% and a negative return on equity of 47.62%. On average, equities analysts forecast that Similarweb Ltd. will post -0.24 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

Several research firms recently commented on SMWB. Northland Securities raised their target price on Similarweb from $17.00 to $20.00 and gave the stock an “outperform” rating in a research note on Friday, January 24th. Needham & Company LLC reaffirmed a “buy” rating and set a $14.00 target price on shares of Similarweb in a research note on Thursday, February 13th. Citigroup increased their price target on Similarweb from $14.00 to $22.00 and gave the stock a “buy” rating in a report on Tuesday, February 11th. Jefferies Financial Group increased their price target on Similarweb from $13.00 to $23.00 and gave the stock a “buy” rating in a report on Monday, February 3rd. Finally, JMP Securities reiterated a “market outperform” rating and issued a $17.00 price target on shares of Similarweb in a report on Thursday, February 13th. Nine equities research analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Buy” and an average target price of $15.75.

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.