Similarweb (NYSE:SMWB) Shares Up 3.7%

Similarweb Ltd. (NYSE:SMWB)’s share price was up 3.7% during trading on Friday . The company traded as high as $7.83 and last traded at $7.81. Approximately 8,309 shares traded hands during trading, a decline of 95% from the average daily volume of 180,923 shares. The stock had previously closed at $7.53.

Analyst Upgrades and Downgrades

A number of equities analysts have commented on SMWB shares. JMP Securities restated a “market outperform” rating and set a $14.00 price objective on shares of Similarweb in a research report on Friday, March 15th. Citigroup upgraded shares of Similarweb from a “neutral” rating to a “buy” rating and upped their price objective for the stock from $6.00 to $10.00 in a research report on Thursday, February 15th. Barclays upped their price objective on shares of Similarweb from $8.00 to $9.00 and gave the stock an “overweight” rating in a research report on Thursday, February 15th. Jefferies Financial Group restated a “buy” rating and set a $10.00 price objective on shares of Similarweb in a research report on Wednesday, February 7th. Finally, William Blair restated an “outperform” rating on shares of Similarweb in a research report on Tuesday, March 5th. Six analysts have rated the stock with a buy rating, Based on data from MarketBeat, the stock currently has an average rating of “Buy” and a consensus price target of $10.60.

Similarweb Trading Up 2.4 %

The firm has a market capitalization of $606.39 million, a price-to-earnings ratio of -21.51 and a beta of 0.68. The stock’s 50 day moving average price is $8.48 and its two-hundred day moving average price is $6.49.

Similarweb (NYSE:SMWB) last posted its quarterly earnings results on Tuesday, February 13th. The company reported ($0.04) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.05) by $0.01. Similarweb had a negative net margin of 13.47% and a negative return on equity of 203.38%. The business had revenue of $56.76 million for the quarter, compared to analysts’ expectations of $55.90 million. On average, sell-side analysts forecast that Similarweb Ltd. will post -0.2 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Similarweb

Institutional investors and hedge funds have recently made changes to their positions in the stock. ANTIPODES PARTNERS Ltd acquired a new stake in Similarweb in the 3rd quarter valued at about $27,000. Legal & General Group Plc lifted its holdings in Similarweb by 64.8% in the 4th quarter. Legal & General Group Plc now owns 4,171 shares of the company’s stock valued at $27,000 after purchasing an additional 1,640 shares in the last quarter. Tower Research Capital LLC TRC purchased a new position in Similarweb in the 3rd quarter valued at about $31,000. Barclays PLC lifted its holdings in Similarweb by 737.4% in the 3rd quarter. Barclays PLC now owns 4,966 shares of the company’s stock valued at $32,000 after purchasing an additional 4,373 shares in the last quarter. Finally, Lazard Asset Management LLC purchased a new position in Similarweb in the 4th quarter valued at about $47,000. 57.59% of the stock is owned by institutional investors and hedge funds.

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.