Panoramic Capital LLC Purchases Shares of 125,000 Similarweb Ltd. (NYSE:SMWB)

Panoramic Capital LLC acquired a new position in shares of Similarweb Ltd. (NYSE:SMWB) during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund acquired 125,000 shares of the company’s stock, valued at approximately $1,771,000. Similarweb accounts for approximately 0.9% of Panoramic Capital LLC’s holdings, making the stock its 25th largest holding. Panoramic Capital LLC owned about 0.15% of Similarweb at the end of the most recent reporting period.

A number of other large investors also recently made changes to their positions in the business. Jennison Associates LLC acquired a new position in shares of Similarweb in the 4th quarter valued at about $26,059,000. Schonfeld Strategic Advisors LLC acquired a new position in shares of Similarweb in the 4th quarter valued at about $22,536,000. Y.D. More Investments Ltd increased its holdings in shares of Similarweb by 6.3% in the 4th quarter. Y.D. More Investments Ltd now owns 1,449,634 shares of the company’s stock valued at $20,541,000 after purchasing an additional 86,500 shares during the period. Scalar Gauge Management LLC increased its holdings in shares of Similarweb by 29.2% in the 4th quarter. Scalar Gauge Management LLC now owns 1,115,778 shares of the company’s stock valued at $15,811,000 after purchasing an additional 251,855 shares during the period. Finally, S Squared Technology LLC increased its holdings in shares of Similarweb by 2.8% in the 4th quarter. S Squared Technology LLC now owns 1,056,291 shares of the company’s stock valued at $14,968,000 after purchasing an additional 28,274 shares during the period. Institutional investors and hedge funds own 57.59% of the company’s stock.

Analyst Ratings Changes

Several equities research analysts recently commented on SMWB shares. Needham & Company LLC reissued a “buy” rating and issued a $14.00 price target on shares of Similarweb in a research note on Thursday, February 13th. Northland Securities boosted their price target on Similarweb from $17.00 to $20.00 and gave the company an “outperform” rating in a research note on Friday, January 24th. JMP Securities reiterated a “market outperform” rating and set a $17.00 price objective on shares of Similarweb in a research note on Thursday, February 13th. Jefferies Financial Group upped their target price on Similarweb from $13.00 to $23.00 and gave the company a “buy” rating in a research report on Monday, February 3rd. Finally, The Goldman Sachs Group dropped their price objective on Similarweb from $13.00 to $10.00 and set a “buy” rating for the company in a research report on Thursday, April 17th. Nine investment analysts have rated the stock with a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, the stock has a consensus rating of “Buy” and an average price target of $15.75.

Similarweb Trading Down 0.1%

Similarweb stock opened at $8.04 on Wednesday. The company has a market capitalization of $664.26 million, a PE ratio of -57.42 and a beta of 1.13. Similarweb Ltd. has a 12 month low of $5.71 and a 12 month high of $17.64. The stock has a 50-day moving average price of $7.85 and a two-hundred day moving average price of $11.14.

Similarweb (NYSE:SMWB) last issued its quarterly earnings results on Tuesday, May 13th. The company reported ($0.11) earnings per share for the quarter, missing the consensus estimate of ($0.02) by ($0.09). Similarweb had a negative net margin of 4.58% and a negative return on equity of 47.62%. As a group, analysts predict 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.