Citigroup Inc. purchased a new stake in Similarweb Ltd. (NYSE:SMWB) in the second quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm purchased 27,919 shares of the company’s stock, valued at approximately $550,000.
A number of other hedge funds also recently bought and sold shares of SMWB. Teacher Retirement System of Texas bought a new position in Similarweb in the second quarter valued at approximately $197,000. Migdal Insurance & Financial Holdings Ltd. acquired a new stake in shares of Similarweb in the second quarter valued at approximately $12,815,000. Finally, Alpha Family Trust acquired a new stake in shares of Similarweb in the second quarter valued at approximately $33,231,000. Hedge funds and other institutional investors own 19.87% of the company’s stock.
Separately, Zacks Investment Research raised Similarweb from a “sell” rating to a “hold” rating in a research report on Wednesday. Three research analysts have rated the stock with a hold rating and six have assigned a buy rating to the company. According to MarketBeat.com, Similarweb currently has an average rating of “Buy” and an average price target of $27.67.
Similarweb (NYSE:SMWB) last released its quarterly earnings results on Wednesday, August 11th. The company reported ($0.33) earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.28) by ($0.05). The company had revenue of $32.51 million during the quarter, compared to analyst estimates of $30.33 million. Analysts predict that Similarweb Ltd. will post -1.07 earnings per share for the current year.
Similarweb Ltd. provides website traffic solutions through AI-driven data analytics worldwide. It offers digital research intelligence solutions that allow senior leaders, strategy, business intelligence, and consumer insights teams 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 solutions, which enable marketing leaders, search engine optimization, and content managers, pay-per-click, performance marketers, affiliate marketers, and media buyers to understand their competitors' online acquisition strategies in each marketing channel.
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