Similarweb (NYSE:SMWB) Trading 7.8% Higher – Still a Buy?

Similarweb Ltd. (NYSE:SMWB) shares were up 7.8% during mid-day trading on Monday . The stock traded as high as $6.79 and last traded at $6.78. Approximately 64,431 shares traded hands during trading, a decline of 93% from the average daily volume of 882,331 shares. The stock had previously closed at $6.29.

Wall Street Analysts Forecast Growth

A number of analysts have recently commented on SMWB shares. Oppenheimer boosted their target price on shares of Similarweb from $4.00 to $7.00 and gave the stock an “outperform” rating in a research note on Thursday, June 18th. Citigroup boosted their price objective on Similarweb from $3.00 to $7.00 and gave the stock a “neutral” rating in a research note on Thursday, July 9th. Finally, Barclays decreased their target price on Similarweb from $7.00 to $5.00 and set an “overweight” rating on the stock in a research report on Monday, April 20th. Three equities research analysts have rated the stock with a Buy rating, seven have given a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of “Hold” and an average price target of $8.07.

Similarweb Stock Up 5.3%

The stock has a market capitalization of $630.19 million, a price-to-earnings ratio of -20.55 and a beta of 1.17. The company’s 50-day moving average is $5.41 and its 200-day moving average is $4.22.

Similarweb (NYSE:SMWB) last issued its earnings results on Wednesday, May 13th. The company reported $0.01 EPS for the quarter, hitting analysts’ consensus estimates of $0.01. Similarweb had a negative net margin of 10.38% and a negative return on equity of 48.57%. The company had revenue of $73.88 million for the quarter, compared to the consensus estimate of $73.04 million. Sell-side analysts anticipate that Similarweb Ltd. will post -0.08 EPS for the current year.

Insider Activity

In other Similarweb news, Director Barak Eilam acquired 50,000 shares of the firm’s stock in a transaction that occurred on Thursday, May 21st. The shares were purchased at an average cost of $3.86 per share, for a total transaction of $193,000.00. Following the completion of the acquisition, the director owned 101,315 shares of the company’s stock, valued at approximately $391,075.90. The trade was a 97.44% increase in their position. The purchase was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, Director Harel Moshe Beit-On acquired 75,000 shares of the firm’s stock in a transaction that occurred on Wednesday, May 20th. The stock was acquired at an average price of $3.89 per share, for a total transaction of $291,750.00. Following the completion of the acquisition, the director directly owned 10,885,778 shares of the company’s stock, valued at $42,345,676.42. The trade was a 0.69% increase in their position. The disclosure for this purchase is available in the SEC filing. Insiders bought a total of 271,105 shares of company stock worth $1,020,726 in the last 90 days.

Hedge Funds Weigh In On Similarweb

A number of hedge funds have recently modified their holdings of the business. Militia Capital Management LLC acquired a new stake in shares of Similarweb during the 1st quarter worth about $616,000. Lavelle Capital LP acquired a new position in Similarweb in the first quarter valued at about $529,000. Bank of America Corp DE lifted its position in Similarweb by 475.3% in the first quarter. Bank of America Corp DE now owns 63,985 shares of the company’s stock valued at $167,000 after buying an additional 52,863 shares during the last quarter. Renaissance Technologies LLC boosted its stake in Similarweb by 104.6% during the first quarter. Renaissance Technologies LLC now owns 739,673 shares of the company’s stock worth $1,931,000 after buying an additional 378,200 shares during the period. Finally, Sphera Management Technology Funds Ltd boosted its stake in Similarweb by 3.7% during the fourth quarter. Sphera Management Technology Funds Ltd now owns 480,000 shares of the company’s stock worth $3,595,000 after buying an additional 17,122 shares during the period. 57.59% of the stock is currently owned by hedge funds and other institutional investors.

About Similarweb

Similarweb Ltd. (NYSE: SMWB) is a digital intelligence company that provides insights into website and mobile app performance. Its cloud-based platform aggregates and analyzes data on global web traffic, user engagement, and referral sources, enabling businesses to benchmark their digital presence against competitors. The company’s core offering includes metrics on audience behavior, traffic acquisition channels, and industry trends, which are designed to inform strategic decisions in marketing, sales, and product development.

Similarweb’s platform delivers a suite of tools for market research, competitor analysis, and performance optimization.