Connor Clark & Lunn Investment Management Ltd. Acquires 227,569 Shares of Similarweb Ltd. (NYSE:SMWB)

Connor Clark & Lunn Investment Management Ltd. lifted its position in shares of Similarweb Ltd. (NYSE:SMWB) by 50.6% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 677,465 shares of the company’s stock after acquiring an additional 227,569 shares during the period. Connor Clark & Lunn Investment Management Ltd. owned approximately 0.84% of Similarweb worth $9,600,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors and hedge funds also recently made changes to their positions in the company. Victory Capital Management Inc. bought a new stake in shares of Similarweb during the 4th quarter worth approximately $6,090,000. Keybank National Association OH bought a new stake in shares of Similarweb during the 4th quarter worth approximately $161,000. Bailard Inc. bought a new stake in shares of Similarweb during the 4th quarter worth approximately $644,000. Oppenheimer & Co. Inc. lifted its holdings in shares of Similarweb by 4.3% during the 4th quarter. Oppenheimer & Co. Inc. now owns 111,149 shares of the company’s stock worth $1,575,000 after acquiring an additional 4,542 shares during the period. Finally, Meitav Investment House Ltd. lifted its holdings in shares of Similarweb by 17.0% during the 4th quarter. Meitav Investment House Ltd. now owns 12,846 shares of the company’s stock worth $182,000 after acquiring an additional 1,870 shares during the period. Institutional investors own 57.59% of the company’s stock.

Similarweb Stock Performance

Shares of NYSE SMWB opened at $9.02 on Friday. Similarweb Ltd. has a 52-week low of $5.71 and a 52-week high of $17.64. The firm has a 50 day moving average price of $13.09 and a two-hundred day moving average price of $11.49. The stock has a market cap of $745.55 million, a P/E ratio of -64.45 and a beta of 1.08.

Similarweb (NYSE:SMWB) last announced its quarterly earnings results on Tuesday, February 11th. The company reported ($0.07) earnings per share (EPS) for the quarter, missing the consensus estimate of $0.03 by ($0.10). Similarweb had a negative net margin of 4.58% and a negative return on equity of 47.62%. Analysts predict that Similarweb Ltd. will post -0.24 earnings per share for the current fiscal year.

Analyst Ratings Changes

A number of analysts have recently weighed in on the stock. Northland Securities upped their price target on shares of Similarweb from $17.00 to $20.00 and gave the stock an “outperform” rating in a report on Friday, January 24th. William Blair reissued an “outperform” rating on shares of Similarweb in a research note on Thursday, December 19th. The Goldman Sachs Group began coverage on shares of Similarweb in a research note on Wednesday, December 11th. They issued a “buy” rating and a $16.00 price objective for the company. JMP Securities reissued a “market outperform” rating and issued a $17.00 price objective on shares of Similarweb in a research note on Thursday, February 13th. Finally, Needham & Company LLC reissued a “buy” rating and issued a $14.00 price objective on shares of Similarweb in a research note on Thursday, February 13th. Nine investment analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, Similarweb presently has a consensus rating of “Buy” and a consensus price target of $16.50.

About Similarweb

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.