Teacher Retirement System of Texas Acquires New Position in Similarweb Ltd. (NYSE:SMWB)

Teacher Retirement System of Texas bought a new position in Similarweb Ltd. (NYSE:SMWB) in the fourth quarter, Holdings Channel reports. The firm bought 10,796 shares of the company’s stock, valued at approximately $153,000.

Several other large investors also recently bought and sold shares of SMWB. Jennison Associates LLC purchased a new position in shares of Similarweb in the fourth quarter worth $26,059,000. Victory Capital Management Inc. purchased a new position in Similarweb in the 4th quarter worth $6,090,000. Telemark Asset Management LLC purchased a new position in Similarweb in the 4th quarter worth $4,251,000. Connor Clark & Lunn Investment Management Ltd. lifted its position in Similarweb by 50.6% during the 4th quarter. Connor Clark & Lunn Investment Management Ltd. now owns 677,465 shares of the company’s stock worth $9,600,000 after acquiring an additional 227,569 shares during the period. Finally, JPMorgan Chase & Co. grew its stake in Similarweb by 147.4% during the 3rd quarter. JPMorgan Chase & Co. now owns 171,539 shares of the company’s stock valued at $1,516,000 after purchasing an additional 102,192 shares during the last quarter. Hedge funds and other institutional investors own 57.59% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research analysts recently issued reports on SMWB shares. JMP Securities restated a “market outperform” rating and set a $17.00 target price on shares of Similarweb in a research report on Thursday, February 13th. Needham & Company LLC reissued a “buy” rating and issued a $14.00 price objective on shares of Similarweb in a report on Thursday, February 13th. The Goldman Sachs Group lowered their target price on Similarweb from $15.00 to $13.00 and set a “buy” rating on the stock in a research note on Friday, March 28th. William Blair reiterated an “outperform” rating on shares of Similarweb in a research report on Thursday, December 19th. Finally, Citigroup upped their price objective on 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 assigned a strong buy rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of “Buy” and an average price target of $16.13.

Similarweb Trading Down 1.6 %

NYSE SMWB opened at $8.21 on Thursday. Similarweb Ltd. has a twelve month low of $5.71 and a twelve month high of $17.64. The stock has a 50-day moving average of $11.43 and a 200 day moving average of $11.47. The stock has a market capitalization of $678.30 million, a price-to-earnings ratio of -58.64 and a beta of 1.08.

Similarweb (NYSE:SMWB) last released its earnings results on Tuesday, February 11th. The company reported ($0.07) EPS for the quarter, missing analysts’ consensus estimates of $0.03 by ($0.10). Similarweb had a negative return on equity of 47.62% and a negative net margin of 4.58%. Equities analysts predict that Similarweb Ltd. will post -0.24 EPS for the current fiscal year.

Similarweb Company 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.