Similarweb (NYSE:SMWB) Shares Up 6.7% – Here’s Why

Similarweb Ltd. (NYSE:SMWBGet Free Report) shares traded up 6.7% during trading on Monday . The company traded as high as $7.14 and last traded at $7.1050. 676,920 shares were traded during mid-day trading, a decline of 22% from the average session volume of 866,584 shares. The stock had previously closed at $6.66.

Wall Street Analysts Forecast Growth

Several equities research analysts have issued reports on the company. Barclays dropped their price objective on Similarweb from $7.00 to $5.00 and set an “overweight” rating on the stock in a report on Monday, April 20th. Citigroup raised their price target on shares of Similarweb from $3.00 to $7.00 and gave the stock a “neutral” rating in a research report on Thursday. Finally, Oppenheimer lifted their price target on shares of Similarweb from $4.00 to $7.00 and gave the stock an “outperform” rating in a research note on Thursday, June 18th. Three analysts have rated the stock with a Buy rating, seven have issued a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat, Similarweb presently has a consensus rating of “Hold” and a consensus target price of $8.07.

Check Out Our Latest Stock Analysis on Similarweb

Similarweb Stock Up 6.7%

The firm has a market capitalization of $622.41 million, a price-to-earnings ratio of -20.34 and a beta of 1.17. The stock has a 50 day moving average of $4.55 and a 200 day moving average of $4.26.

Similarweb (NYSE:SMWBGet Free Report) last released its earnings results on Wednesday, May 13th. The company reported $0.01 EPS for the quarter, hitting analysts’ consensus estimates of $0.01. The company had revenue of $73.88 million for the quarter, compared to the consensus estimate of $73.04 million. Similarweb had a negative return on equity of 48.57% and a negative net margin of 10.38%. Analysts predict that Similarweb Ltd. will post -0.08 earnings per share for the current year.

Insider Buying and Selling at Similarweb

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

Hedge Funds Weigh In On Similarweb

A number of hedge funds and other institutional investors have recently bought and sold shares of SMWB. Larson Financial Group LLC bought a new position in shares of Similarweb during the third quarter valued at approximately $25,000. Wexford Capital LP bought a new position in Similarweb during the 3rd quarter worth $64,000. Brooklyn Investment Group acquired a new stake in Similarweb in the fourth quarter worth $85,000. Boothbay Fund Management LLC acquired a new stake in Similarweb in the fourth quarter worth $90,000. Finally, Nebula Research & Development LLC bought a new stake in Similarweb in the second quarter valued at $146,000. 57.59% of the stock is currently owned by institutional investors and hedge funds.

Similarweb Company Profile

(Get Free Report)

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.

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