Similarweb (NYSE:SMWB) Price Target Raised to $8.50

Similarweb (NYSE:SMWB) had its price target upped by Oppenheimer from $7.00 to $8.50 in a research note published on Wednesday,Benzinga reports. They currently have an outperform rating on the stock.

Several other analysts have also recently commented on the stock. Barclays reduced their price objective on shares of Similarweb from $7.00 to $5.00 and set an “overweight” rating for the company in a research note on Monday, April 20th. Citigroup increased their price target on shares of Similarweb from $3.00 to $7.00 and gave the company a “neutral” rating in a research report on Thursday, July 9th. Three investment analysts have rated the stock with a Buy rating, seven have given a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat, the stock currently has an average rating of “Hold” and a consensus target price of $8.29.

Similarweb Stock Performance

Shares of NYSE:SMWB opened at $7.49 on Wednesday. Similarweb has a one year low of $2.22 and a one year high of $10.75. The stock has a market capitalization of $656.12 million, a price-to-earnings ratio of -21.40 and a beta of 1.14. The company has a 50-day simple moving average of $5.94 and a 200-day simple moving average of $4.28.

Similarweb (NYSE:SMWB) last issued its quarterly earnings results on Wednesday, May 13th. The company reported $0.01 earnings per share (EPS) for the quarter, meeting the consensus estimate of $0.01. Similarweb had a negative return on equity of 48.57% and a negative net margin of 10.38%.The firm had revenue of $73.88 million for the quarter, compared to analysts’ expectations of $73.04 million. As a group, research analysts forecast that Similarweb will post -0.08 EPS for the current fiscal year.

Insider Buying and Selling

In related news, CEO Or Offer bought 50,000 shares of the stock in a transaction dated Monday, June 1st. The stock was acquired at an average price of $4.15 per share, for a total transaction of $207,500.00. Following the completion of the purchase, the chief executive officer owned 4,744,396 shares in the company, valued at $19,689,243.40. This represents a 1.07% increase in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Tamar Rapaport-Dagim bought 40,000 shares of the company’s stock in a transaction that occurred on Monday, May 18th. The shares were bought at an average price of $3.22 per share, for a total transaction of $128,800.00. Following the completion of the acquisition, the director owned 63,584 shares in the company, valued at approximately $204,740.48. This trade represents a 169.61% increase in their position. The SEC filing for this purchase provides additional information. Insiders purchased 271,105 shares of company stock worth $1,020,726 over the last three months. 62.40% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently bought and sold shares of the business. Militia Capital Management LLC bought a new stake in shares of Similarweb in the first quarter worth $616,000. Lavelle Capital LP bought a new stake in shares of Similarweb in the 1st quarter valued at approximately $529,000. Bank of America Corp DE increased its holdings 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 acquiring an additional 52,863 shares during the last quarter. Renaissance Technologies LLC raised its position in shares of Similarweb by 104.6% during the 1st quarter. Renaissance Technologies LLC now owns 739,673 shares of the company’s stock valued at $1,931,000 after acquiring an additional 378,200 shares in the last quarter. Finally, Sphera Management Technology Funds Ltd lifted 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 purchasing an additional 17,122 shares during the last quarter. Hedge funds and other institutional investors own 57.59% of the company’s stock.

Similarweb Company Profile

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.