Similarweb Ltd. (NYSE:SMWB) Shares Acquired by Connor Clark & Lunn Investment Management Ltd.

Connor Clark & Lunn Investment Management Ltd. lifted its stake in shares of Similarweb Ltd. (NYSE:SMWB) by 19.0% during the first quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 806,174 shares of the company’s stock after purchasing an additional 128,709 shares during the quarter. Connor Clark & Lunn Investment Management Ltd. owned about 0.98% of Similarweb worth $6,667,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds have also made changes to their positions in the company. Heck Capital Advisors LLC bought a new position in Similarweb in the 4th quarter worth approximately $115,000. Public Employees Retirement System of Ohio grew its holdings in Similarweb by 25.3% in the 4th quarter. Public Employees Retirement System of Ohio now owns 9,900 shares of the company’s stock worth $140,000 after buying an additional 2,000 shares in the last quarter. Freedom Investment Management Inc. bought a new position in Similarweb in the 4th quarter worth approximately $191,000. Fullcircle Wealth LLC bought a new position in Similarweb in the 1st quarter worth approximately $117,000. Finally, Teacher Retirement System of Texas grew its holdings in Similarweb by 70.1% in the 1st quarter. Teacher Retirement System of Texas now owns 18,362 shares of the company’s stock worth $152,000 after buying an additional 7,566 shares in the last quarter. 57.59% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of equities analysts recently issued reports on the company. The Goldman Sachs Group decreased their price objective on Similarweb from $13.00 to $10.00 and set a “buy” rating for the company in a report on Thursday, April 17th. Barclays decreased their price objective on Similarweb from $15.00 to $10.00 and set an “overweight” rating for the company in a report on Thursday, May 15th. Finally, Citigroup decreased their price target on Similarweb from $13.00 to $11.00 and set a “buy” rating for the company in a research note on Friday, August 1st. Eight equities research analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat, Similarweb currently has an average rating of “Buy” and a consensus target price of $15.00.

Similarweb Stock Performance

Shares of NYSE SMWB opened at $7.09 on Wednesday. The stock has a fifty day moving average price of $8.10 and a two-hundred day moving average price of $8.89. The firm has a market cap of $601.73 million, a P/E ratio of -32.23 and a beta of 1.11. Similarweb Ltd. has a 1 year low of $6.36 and a 1 year high of $17.64.

Similarweb (NYSE:SMWB) last issued its quarterly earnings results on Tuesday, May 13th. The company reported ($0.11) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.02) by ($0.09). The firm had revenue of $67.09 million for the quarter, compared to the consensus estimate of $66.37 million. Similarweb had a negative net margin of 6.97% and a negative return on equity of 71.14%. On average, research analysts predict that Similarweb Ltd. will post -0.24 earnings per share for the current fiscal 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.