Similarweb (NYSE:SMWB) Rating Lowered to Buy at Wall Street Zen

Similarweb (NYSE:SMWB) was downgraded by investment analysts at Wall Street Zen from a “strong-buy” rating to a “buy” rating in a note issued to investors on Sunday, Wall Street Zen reports.

SMWB has been the subject of several other reports. Barclays raised their price objective on Similarweb from $5.00 to $11.00 and gave the stock an “overweight” rating in a research note on Thursday, August 13th. Northland Securities raised Similarweb from a “market perform” rating to an “outperform” rating and lifted their target price for the stock from $5.00 to $10.00 in a report on Wednesday, August 12th. Zacks Research upgraded Similarweb from a “hold” rating to a “strong-buy” rating in a research report on Friday, October 2nd. Citigroup increased their price target on shares of Similarweb from $7.00 to $9.00 and gave the stock a “neutral” rating in a report on Thursday, August 13th. Finally, Needham & Company LLC raised 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. One equities research analyst has rated the stock with a Strong Buy rating, five have issued a Buy rating, four have issued a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat, Similarweb presently has a consensus rating of “Moderate Buy” and an average target price of $9.71.

Similarweb Price Performance

Shares of SMWB opened at $8.68 on Friday. The firm has a market capitalization of $760.38 million, a PE ratio of -34.72 and a beta of 1.30. Similarweb has a 1-year low of $2.22 and a 1-year high of $9.50. The company’s fifty day moving average price is $8.52 and its 200-day moving average price is $5.56.

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

Insiders Place Their Bets

In other Similarweb news, CEO Or Offer sold 114,300 shares of the stock in a transaction dated Thursday, September 24th. The stock was sold at an average price of $7.69, for a total transaction of $878,967.00. Following the sale, the chief executive officer directly owned 3,930,481 shares of the company’s stock, valued at approximately $30,225,398.89. This trade represents a 2.83% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last 90 days, insiders sold 1,760,534 shares of company stock worth $15,163,145. 62.40% of the stock is currently owned by company insiders.

Institutional Trading of Similarweb

A number of hedge funds have recently modified their holdings of SMWB. Lavelle Capital LP purchased a new position in Similarweb during the first quarter valued at approximately $529,000. Renaissance Technologies LLC boosted its position in Similarweb by 104.6% in the 1st quarter. Renaissance Technologies LLC now owns 739,673 shares of the company’s stock worth $1,931,000 after purchasing an additional 378,200 shares in the last quarter. Wellington Management Group LLP boosted its position in Similarweb by 22.2% in the 2nd quarter. Wellington Management Group LLP now owns 3,624,685 shares of the company’s stock worth $22,219,000 after purchasing an additional 657,928 shares in the last quarter. Militia Capital Management LLC purchased a new stake in Similarweb in the 1st quarter worth approximately $616,000. Finally, CenterBook Partners LP grew its stake in shares of Similarweb by 46.9% during the 3rd quarter. CenterBook Partners LP now owns 881,065 shares of the company’s stock worth $6,837,000 after purchasing an additional 281,328 shares during the period. Hedge funds and other institutional investors own 57.59% of the company’s stock.

About Similarweb

Similarweb Ltd. (NYSE: SMWB) provides digital data and market intelligence through a software-as-a-service platform. The company collects and analyzes data on website and mobile application activity to help organizations understand online audiences, markets, competitors and customer behavior.

Its products support digital marketing, search engine optimization, sales and business development, market research, investor research, e-commerce and shopper intelligence. Customers can use Similarweb’s platform to evaluate traffic sources, audience engagement, keyword performance, industry trends and competitive positioning across digital channels.

Similarweb serves enterprises, advertising and marketing agencies, financial institutions, publishers and other organizations in markets around the world.