Similarweb Ltd. (SMWB) – What Are Analysts Thinking About This Stock?

Shares of Similarweb Ltd. (NYSE:SMWB) have received an average recommendation of “Hold” from the ten ratings firms that are currently covering the firm, Marketbeat Ratings reports. One analyst has rated the stock with a sell rating, five have assigned a hold rating and four have assigned a buy rating to the company. The average 12-month target price among analysts that have updated their coverage on the stock in the last year is $9.50.

A number of research firms recently issued reports on SMWB. Citigroup lifted their target price on Similarweb from $7.00 to $9.00 and gave the stock a “neutral” rating in a report on Thursday, August 13th. Wall Street Zen downgraded shares of Similarweb from a “strong-buy” rating to a “buy” rating in a report on Sunday, November 1st. Weiss Ratings reissued a “sell (e+)” rating on shares of Similarweb in a report on Tuesday. Needham & Company LLC raised Similarweb from a “hold” rating to a “buy” rating and set a $11.00 price target on the stock in a report on Wednesday, September 16th. Finally, Zacks Research downgraded Similarweb from a “strong-buy” rating to a “hold” rating in a research report on Monday, November 2nd.

Similarweb Stock Performance

Similarweb stock remained flat at $7.96 during trading hours on Tuesday. 312,733 shares of the company’s stock traded hands, compared to its average volume of 363,644. Similarweb has a 52-week low of $2.22 and a 52-week high of $9.50. The company has a market cap of $697.30 million, a price-to-earnings ratio of -31.84 and a beta of 1.36. The firm’s fifty day moving average price is $8.39 and its 200-day moving average price is $5.66.

Similarweb (NYSE:SMWB) last issued its quarterly earnings results on Wednesday, August 12th. The company reported $0.06 earnings per share for the quarter. The company 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%.

Insider Activity

In other news, CEO Or Offer sold 383,127 shares of the business’s stock in a transaction on Wednesday, August 26th. The stock was sold at an average price of $9.00, for a total transaction of $3,448,143.00. Following the sale, the chief executive officer directly owned 4,598,291 shares of the company’s stock, valued at $41,384,619. The trade was a 7.69% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. In the last 90 days, insiders sold 1,050,937 shares of company stock valued at $8,909,242. Insiders own 62.40% of the company’s stock.

Hedge Funds Weigh In On Similarweb

Several institutional investors and hedge funds have recently added to or reduced their stakes in SMWB. Wellington Management Group LLP lifted its holdings in shares of Similarweb by 22.2% in the second quarter. Wellington Management Group LLP now owns 3,624,685 shares of the company’s stock valued at $22,219,000 after purchasing an additional 657,928 shares in the last quarter. Aberdeen Group plc purchased a new position in shares of Similarweb during the third quarter valued at $10,423,000. CenterBook Partners LP grew its holdings in shares of Similarweb by 46.9% during the third quarter. CenterBook Partners LP now owns 881,065 shares of the company’s stock valued at $6,837,000 after buying an additional 281,328 shares in the last quarter. Marshall Wace LLP grew its holdings in shares of Similarweb by 938.2% during the third quarter. Marshall Wace LLP now owns 633,111 shares of the company’s stock valued at $4,913,000 after buying an additional 572,130 shares in the last quarter. Finally, Renaissance Technologies LLC grew its holdings in shares of Similarweb by 104.6% during the first quarter. Renaissance Technologies LLC now owns 739,673 shares of the company’s stock valued at $1,931,000 after buying an additional 378,200 shares in the last quarter. 57.59% of the stock is currently owned by hedge funds and other institutional investors.

About Similarweb

Similarweb Ltd. is a digital intelligence company that helps businesses understand online activity and competition. Its platform collects and analyzes data about website visits, mobile app usage, search behavior and other digital interactions, then presents the information through analytics and benchmarking tools. Similarweb’s products support market research, competitive analysis, digital marketing, sales prospecting and investment research. Customers can use the platform to assess digital audiences and trends, compare performance with competitors, and identify opportunities across online markets.