Analysts Set Similarweb Ltd. (NYSE:SMWB) Target Price at $9.71

Similarweb Ltd. (NYSE:SMWB) has earned an average recommendation of “Hold” from the ten brokerages that are currently covering the firm, Marketbeat Ratings reports. One research analyst has rated the stock with a sell recommendation, four have issued a hold recommendation and five have assigned a buy recommendation to the company. The average 1-year price objective among brokerages that have covered the stock in the last year is $9.7143.

A number of analysts have issued reports on the stock. Oppenheimer boosted their price objective on shares of Similarweb from $7.00 to $8.50 and gave the company an “outperform” rating in a report on Wednesday, August 5th. Barclays raised their target price on shares of Similarweb from $5.00 to $11.00 and gave the stock an “overweight” rating in a report on Thursday, August 13th. Needham & Company LLC upgraded shares of Similarweb from a “hold” rating to a “buy” rating and set a $11.00 price target for the company in a research report on Wednesday, September 16th. Weiss Ratings reiterated a “sell (e+)” rating on shares of Similarweb in a research note on Wednesday, August 12th. Finally, Citigroup raised their price objective on Similarweb from $7.00 to $9.00 and gave the stock a “neutral” rating in a research note on Thursday, August 13th.

Insider Buying and Selling at Similarweb

In other news, CEO Or Offer sold 32,200 shares of the stock in a transaction on Monday, September 21st. The stock was sold at an average price of $8.40, for a total transaction of $270,480.00. Following the sale, the chief executive officer directly owned 4,107,681 shares of the company’s stock, valued at approximately $34,504,520.40. This represents a 0.78% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last ninety days, insiders sold 1,583,334 shares of company stock worth $13,752,532. Corporate insiders own 62.40% of the company’s stock.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently bought and sold shares of SMWB. Integrated Wealth Concepts LLC bought a new stake in Similarweb during the second quarter worth about $92,000. Wellington Management Group LLP grew its stake in Similarweb by 22.2% during the second quarter. Wellington Management Group LLP now owns 3,624,685 shares of the company’s stock worth $22,219,000 after buying an additional 657,928 shares in the last quarter. Militia Capital Management LLC bought a new position in Similarweb in the 1st quarter valued at about $616,000. Lavelle Capital LP acquired a new position in shares of Similarweb in the 1st quarter valued at approximately $529,000. Finally, Bank of America Corp DE raised its position in shares of Similarweb by 475.3% in the 1st 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 in the last quarter. Institutional investors and hedge funds own 57.59% of the company’s stock.

Similarweb Price Performance

SMWB stock opened at $8.57 on Monday. Similarweb has a fifty-two week low of $2.22 and a fifty-two week high of $9.82. The stock has a market capitalization of $751.08 million, a price-to-earnings ratio of -34.30 and a beta of 1.21. The business’s fifty day moving average price is $8.00 and its two-hundred day moving average price is $5.29.

Similarweb (NYSE:SMWB) last announced its earnings results on Wednesday, August 12th. The company reported $0.06 earnings per share (EPS) for the quarter. Similarweb had a negative net margin of 7.37% and a negative return on equity of 19.81%. The company had revenue of $77.19 million during the quarter.

Similarweb Company Profile

Similarweb Ltd. is a digital intelligence company that provides data and analytics about online activity. Its platform helps organizations analyze website and mobile application performance, understand audience behavior, evaluate competitors, and identify trends across digital markets.

The company’s products support a range of business functions, including marketing, sales, market research, search engine optimization, investor research and business development. Similarweb combines data from multiple sources to provide insights into web traffic, mobile app usage, customer engagement, acquisition channels and industry positioning.

Founded in 2007, Similarweb serves businesses, agencies, financial institutions and other organizations in markets around the world.