Migdal Insurance & Financial Holdings Ltd. Acquires 1,050,000 Shares of Similarweb Ltd. (NYSE:SMWB)

Migdal Insurance & Financial Holdings Ltd. grew its stake in shares of Similarweb Ltd. (NYSE:SMWB) by 61.3% during the first quarter, Holdings Channel.com reports. The institutional investor owned 2,762,557 shares of the company’s stock after acquiring an additional 1,050,000 shares during the quarter. Migdal Insurance & Financial Holdings Ltd.’s holdings in Similarweb were worth $22,846,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently modified their holdings of SMWB. KLP Kapitalforvaltning AS bought a new stake in Similarweb during the 4th quarter worth approximately $115,000. Heck Capital Advisors LLC acquired a new position in shares of Similarweb during the 4th quarter worth approximately $115,000. Fullcircle Wealth LLC bought a new position in shares of Similarweb in the first quarter valued at about $117,000. Public Employees Retirement System of Ohio increased its stake in shares of Similarweb by 25.3% during the fourth quarter. Public Employees Retirement System of Ohio now owns 9,900 shares of the company’s stock worth $140,000 after purchasing an additional 2,000 shares during the period. Finally, Teacher Retirement System of Texas increased its position in Similarweb by 70.1% during 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 during the period. 57.59% of the stock is owned by institutional investors.

Analysts Set New Price Targets

A number of research analysts have issued reports on SMWB shares. The Goldman Sachs Group decreased their target price on shares of Similarweb from $13.00 to $10.00 and set a “buy” rating on the stock in a research report on Thursday, April 17th. Barclays reduced their price target on shares of Similarweb from $15.00 to $10.00 and set an “overweight” rating on the stock in a research note on Thursday, May 15th. 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. According to data from MarketBeat.com, the stock has an average rating of “Buy” and an average target price of $15.75.

Similarweb Stock Up 0.4%

SMWB stock traded up $0.04 during midday trading on Friday, hitting $8.40. The company’s stock had a trading volume of 5,155 shares, compared to its average volume of 495,470. The stock has a market cap of $693.59 million, a price-to-earnings ratio of -38.27 and a beta of 1.10. The stock’s 50-day moving average price is $7.87 and its 200 day moving average price is $9.80. Similarweb Ltd. has a 1 year low of $5.71 and a 1 year high of $17.64.

Similarweb (NYSE:SMWB) last announced its quarterly earnings data 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). The business had revenue of $67.09 million during the quarter, compared to the consensus estimate of $66.37 million. Similarweb had a negative return on equity of 71.14% and a negative net margin of 6.97%. As a group, equities analysts forecast that Similarweb Ltd. will post -0.24 earnings per share 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.