Scalar Gauge Management LLC Buys 215,221 Shares of Similarweb Ltd. (NYSE:SMWB)

Scalar Gauge Management LLC increased its position in Similarweb Ltd. (NYSE:SMWB) by 56.8% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 593,923 shares of the company’s stock after acquiring an additional 215,221 shares during the quarter. Similarweb comprises about 2.7% of Scalar Gauge Management LLC’s investment portfolio, making the stock its 12th biggest position. Scalar Gauge Management LLC’s holdings in Similarweb were worth $4,615,000 at the end of the most recent reporting period.

Several other hedge funds have also recently added to or reduced their stakes in SMWB. Russell Investments Group Ltd. bought a new position in Similarweb in the 1st quarter valued at $2,820,000. Roubaix Capital LLC acquired a new position in Similarweb in the first quarter valued at about $2,449,000. Acadian Asset Management LLC lifted its stake in Similarweb by 3,663.6% in the first quarter. Acadian Asset Management LLC now owns 275,417 shares of the company’s stock valued at $2,468,000 after buying an additional 268,099 shares in the last quarter. Essex Investment Management Co. LLC bought a new position in shares of Similarweb during the first quarter worth about $2,344,000. Finally, Circumference Group LLC bought a new stake in shares of Similarweb in the fourth quarter worth $725,000. Institutional investors own 57.59% of the company’s stock.

Analysts Set New Price Targets

SMWB has been the topic of a number of recent analyst reports. JMP Securities boosted their target price on shares of Similarweb from $14.00 to $16.00 and gave the stock a “market outperform” rating in a report on Wednesday, August 21st. Cantor Fitzgerald reiterated an “overweight” rating and set a $10.00 price objective on shares of Similarweb in a research note on Wednesday, August 7th. Northland Capmk upgraded shares of Similarweb to a “strong-buy” rating in a research note on Tuesday, September 10th. William Blair reiterated an “outperform” rating on shares of Similarweb in a report on Monday, September 9th. Finally, Barclays boosted their price objective on Similarweb from $9.00 to $10.00 and gave the company an “overweight” rating in a research note on Thursday, August 8th. Seven analysts have rated the stock with a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, the company currently has an average rating of “Buy” and an average price target of $11.83.

Similarweb Price Performance

Shares of NYSE:SMWB opened at $8.48 on Tuesday. The firm has a market capitalization of $666.96 million, a price-to-earnings ratio of -33.92 and a beta of 0.85. Similarweb Ltd. has a one year low of $4.58 and a one year high of $9.76. The company’s fifty day moving average price is $8.02 and its 200-day moving average price is $7.96.

Similarweb (NYSE:SMWB) last posted its quarterly earnings results on Tuesday, August 6th. The company reported ($0.01) EPS for the quarter, beating analysts’ consensus estimates of ($0.05) by $0.04. The company had revenue of $60.64 million during the quarter, compared to analyst estimates of $60.23 million. Similarweb had a negative net margin of 5.07% and a negative return on equity of 60.53%. As a group, equities research analysts expect that Similarweb Ltd. will post -0.04 EPS for the current year.

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.