Similarweb (NYSE:SMWB) Upgraded to “Buy” at Wall Street Zen

Wall Street Zen upgraded shares of Similarweb (NYSE:SMWB) from a hold rating to a buy rating in a report issued on Saturday.

A number of other research analysts have also issued reports on SMWB. Northland Securities raised Similarweb from a “market perform” rating to an “outperform” rating and boosted their target price for the company from $5.00 to $10.00 in a report on Wednesday. Barclays increased their price target on Similarweb from $5.00 to $11.00 and gave the stock an “overweight” rating in a report on Thursday. Weiss Ratings reiterated a “sell (e+)” rating on shares of Similarweb in a research report on Wednesday. Citigroup boosted their price objective on shares of Similarweb from $7.00 to $9.00 and gave the company a “neutral” rating in a research note on Thursday. Finally, Oppenheimer upped their price objective on shares of Similarweb from $7.00 to $8.50 and gave the stock an “outperform” rating in a research report on Wednesday, August 5th. Four investment analysts have rated the stock with a Buy rating, five have assigned a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat, Similarweb presently has a consensus rating of “Hold” and an average target price of $10.14.

Similarweb Stock Performance

NYSE SMWB opened at $8.88 on Friday. The firm’s fifty day moving average is $6.34 and its two-hundred day moving average is $4.36. Similarweb has a one year low of $2.22 and a one year high of $10.75. The firm has a market cap of $777.45 million, a PE ratio of -35.50 and a beta of 1.14.

Similarweb (NYSE:SMWB) last announced its earnings results on Wednesday, August 12th. The company reported $0.06 earnings per share for the quarter. The business had revenue of $77.19 million during the quarter. Similarweb had a negative net margin of 7.37% and a negative return on equity of 19.81%. Research analysts predict that Similarweb will post -0.08 earnings per share for the current year.

Insiders Place Their Bets

In other Similarweb news, Director Tamar Rapaport-Dagim bought 40,000 shares of Similarweb stock in a transaction on Monday, May 18th. The stock was bought at an average price of $3.22 per share, with a total value of $128,800.00. Following the completion of the acquisition, the director owned 63,584 shares in the company, valued at $204,740.48. The trade was a 169.61% increase in their ownership of the stock. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, Director Barak Eilam bought 50,000 shares of the firm’s stock in a transaction on Thursday, May 21st. The shares were bought at an average price of $3.86 per share, for a total transaction of $193,000.00. Following the completion of the transaction, the director directly owned 101,315 shares in the company, valued at approximately $391,075.90. This represents a 97.44% increase in their position. Additional details regarding this purchase are available in the official SEC disclosure. Over the last three months, insiders have bought 271,105 shares of company stock worth $1,020,726. 62.40% of the stock is owned by insiders.

Institutional Trading of Similarweb

Institutional investors have recently added to or reduced their stakes in the stock. Phoenix Financial Ltd. boosted its stake in shares of Similarweb by 43.2% during the 4th quarter. Phoenix Financial Ltd. now owns 4,285,786 shares of the company’s stock worth $32,101,000 after acquiring an additional 1,292,700 shares in the last quarter. Wellington Management Group LLP increased its stake in Similarweb by 163.6% in the 3rd quarter. Wellington Management Group LLP now owns 2,457,805 shares of the company’s stock valued at $22,858,000 after purchasing an additional 1,525,230 shares in the last quarter. Nuveen LLC increased its stake in Similarweb by 2.5% in the 4th quarter. Nuveen LLC now owns 1,520,398 shares of the company’s stock valued at $11,388,000 after purchasing an additional 37,457 shares in the last quarter. Connor Clark & Lunn Investment Management Ltd. raised its holdings in Similarweb by 2.6% during the third quarter. Connor Clark & Lunn Investment Management Ltd. now owns 944,552 shares of the company’s stock worth $8,784,000 after purchasing an additional 23,881 shares during the last quarter. Finally, New York State Common Retirement Fund boosted its position in Similarweb by 0.4% during the fourth quarter. New York State Common Retirement Fund now owns 852,915 shares of the company’s stock worth $6,388,000 after purchasing an additional 3,170 shares in the last quarter. Hedge funds and other institutional investors own 57.59% of the company’s stock.

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.