Connor Clark & Lunn Investment Management Ltd. Boosts Stock Position in Similarweb Ltd. $SMWB

Connor Clark & Lunn Investment Management Ltd. raised its position in Similarweb Ltd. (NYSE:SMWB) by 14.2% during the second quarter, Holdings Channel.com reports. The firm owned 920,671 shares of the company’s stock after buying an additional 114,497 shares during the period. Connor Clark & Lunn Investment Management Ltd.’s holdings in Similarweb were worth $7,218,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also modified their holdings of the company. MQS Management LLC purchased a new position in shares of Similarweb during the second quarter valued at approximately $125,000. Fox Run Management L.L.C. acquired a new position in Similarweb in the 2nd quarter valued at $129,000. ANTIPODES PARTNERS Ltd lifted its stake in shares of Similarweb by 8.3% during the 2nd quarter. ANTIPODES PARTNERS Ltd now owns 17,510 shares of the company’s stock worth $137,000 after purchasing an additional 1,344 shares during the period. Teacher Retirement System of Texas boosted its holdings in shares of Similarweb by 70.1% during the first quarter. Teacher Retirement System of Texas now owns 18,362 shares of the company’s stock worth $152,000 after purchasing an additional 7,566 shares during the last quarter. Finally, Zurcher Kantonalbank Zurich Cantonalbank boosted its holdings in shares of Similarweb by 15.5% during the first quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 21,032 shares of the company’s stock worth $174,000 after purchasing an additional 2,825 shares during the last quarter. 57.59% of the stock is currently owned by hedge funds and other institutional investors.

Similarweb Stock Performance

SMWB opened at $7.82 on Thursday. Similarweb Ltd. has a 1 year low of $6.36 and a 1 year high of $17.64. The firm has a 50 day moving average price of $9.12 and a 200 day moving average price of $8.48. The company has a market cap of $663.24 million, a PE ratio of -21.12 and a beta of 1.09.

Similarweb (NYSE:SMWB) last announced its quarterly earnings results on Tuesday, November 11th. The company reported $0.05 earnings per share for the quarter, beating analysts’ consensus estimates of $0.02 by $0.03. Similarweb had a negative net margin of 11.20% and a negative return on equity of 78.25%. The firm had revenue of $71.79 million for the quarter, compared to analysts’ expectations of $71.95 million. Similarweb has set its FY 2025 guidance at EPS. On average, sell-side analysts predict that Similarweb Ltd. will post -0.24 earnings per share for the current year.

Wall Street Analysts Forecast Growth

Several research firms recently commented on SMWB. Barclays reiterated an “overweight” rating on shares of Similarweb in a research note on Wednesday, August 13th. Weiss Ratings reaffirmed a “sell (e+)” rating on shares of Similarweb in a research note on Wednesday, October 8th. Oppenheimer increased their price objective on shares of Similarweb from $13.00 to $14.00 and gave the stock an “outperform” rating in a report on Monday, August 18th. Zacks Research raised shares of Similarweb from a “strong sell” rating to a “hold” rating in a research report on Thursday, August 14th. Finally, Citigroup reaffirmed a “market outperform” rating on shares of Similarweb in a research report on Tuesday, October 28th. Nine analysts have rated the stock with a Buy rating, one has given a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat, Similarweb presently has a consensus rating of “Moderate Buy” and an average target price of $14.88.

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.