Similarweb (NYSE:SMWB) Lifted to “Hold” at Zacks Investment Research

Zacks Investment Research upgraded shares of Similarweb (NYSE:SMWB) from a sell rating to a hold rating in a research report released on Wednesday morning, Zacks.com reports.

According to Zacks, “Similarweb Ltd. is a website which provides web analytics services for businesses. Similarweb Ltd. is based in Israel. “

Separately, Jefferies Financial Group upped their price target on Similarweb from $20.00 to $22.00 and gave the company a buy rating in a research note on Thursday, January 6th. Two research analysts have rated the stock with a hold rating and seven have given a buy rating to the company’s stock. Based on data from MarketBeat, Similarweb has a consensus rating of Buy and a consensus target price of $27.50.

NYSE:SMWB opened at $17.02 on Wednesday. Similarweb has a 12 month low of $14.44 and a 12 month high of $25.50. The company’s 50 day moving average is $17.51 and its 200-day moving average is $19.81.

Similarweb (NYSE:SMWB) last issued its earnings results on Wednesday, November 10th. The company reported ($0.23) EPS for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.22) by ($0.01). The firm had revenue of $35.60 million for the quarter, compared to the consensus estimate of $32.98 million. Analysts predict that Similarweb will post -1.24 earnings per share for the current fiscal year.

A number of large investors have recently added to or reduced their stakes in the business. Migdal Insurance & Financial Holdings Ltd. boosted its position in Similarweb by 37.6% during the 3rd quarter. Migdal Insurance & Financial Holdings Ltd. now owns 894,930 shares of the company’s stock worth $18,731,000 after acquiring an additional 244,443 shares during the last quarter. Morgan Stanley boosted its position in Similarweb by 19.1% during the 3rd quarter. Morgan Stanley now owns 10,600 shares of the company’s stock worth $222,000 after acquiring an additional 1,700 shares during the last quarter. Altshuler Shaham Ltd acquired a new position in Similarweb during the 3rd quarter worth approximately $198,000. Bamco Inc. NY boosted its position in Similarweb by 3.5% during the 3rd quarter. Bamco Inc. NY now owns 535,942 shares of the company’s stock worth $11,217,000 after acquiring an additional 17,980 shares during the last quarter. Finally, Macquarie Group Ltd. boosted its position in Similarweb by 176.8% during the 3rd quarter. Macquarie Group Ltd. now owns 609,534 shares of the company’s stock worth $12,757,000 after acquiring an additional 389,301 shares during the last quarter. 19.37% of the stock is owned by hedge funds and other institutional investors.

About Similarweb

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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