Similarweb (NYSE:SMWB) Stock Rating Lowered by Wall Street Zen

Similarweb (NYSE:SMWBGet Free Report) was downgraded by stock analysts at Wall Street Zen from a “strong-buy” rating to a “buy” rating in a research note issued to investors on Saturday, Wall Street Zen reports.

Other equities analysts also recently issued research reports about the stock. Northland Securities raised shares of Similarweb from a “market perform” rating to an “outperform” rating and raised their price objective for the stock from $5.00 to $10.00 in a report on Wednesday, August 12th. Oppenheimer increased their price target on shares of Similarweb from $7.00 to $8.50 and gave the stock an “outperform” rating in a research report on Wednesday, August 5th. Citigroup lifted their price target on shares of Similarweb from $7.00 to $9.00 and gave the stock a “neutral” rating in a research note on Thursday, August 13th. Barclays upped 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. Finally, Weiss Ratings reaffirmed a “sell (e+)” rating on shares of Similarweb in a research note on Wednesday, August 12th. Four analysts have rated the stock with a Buy rating, five have given a Hold rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat, the company currently has a consensus rating of “Hold” and an average target price of $10.14.

Get Our Latest Analysis on SMWB

Similarweb Trading Down 0.0%

Shares of SMWB opened at $8.07 on Friday. The firm has a fifty day simple moving average of $7.72 and a two-hundred day simple moving average of $4.97. The firm has a market cap of $706.67 million, a PE ratio of -32.27 and a beta of 1.21. Similarweb has a 1-year low of $2.22 and a 1-year high of $10.35.

Similarweb (NYSE:SMWBGet Free Report) last issued its quarterly earnings data on Wednesday, August 12th. The company reported $0.06 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.

Insider Transactions at Similarweb

In other news, CEO Or Offer sold 86,300 shares of Similarweb stock in a transaction that occurred on Wednesday, September 9th. The shares were sold at an average price of $8.06, for a total transaction of $695,578.00. Following the sale, the chief executive officer owned 4,451,291 shares in the company, valued at $35,877,405.46. This trade represents a 1.90% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last 90 days, insiders sold 1,239,724 shares of company stock worth $10,903,255.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently made changes to their positions in the stock. Lavelle Capital LP purchased a new stake in shares of Similarweb during the 1st quarter worth approximately $529,000. Renaissance Technologies LLC grew its holdings in shares of Similarweb by 104.6% in the first quarter. Renaissance Technologies LLC now owns 739,673 shares of the company’s stock valued at $1,931,000 after purchasing an additional 378,200 shares in the last quarter. Militia Capital Management LLC bought a new stake in Similarweb in the first quarter worth $616,000. Wellington Management Group LLP increased its position in Similarweb by 22.2% in the second 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 during the last quarter. Finally, UBS Group AG raised its stake in Similarweb by 71.4% during the fourth quarter. UBS Group AG now owns 536,549 shares of the company’s stock valued at $4,019,000 after purchasing an additional 223,562 shares in the last quarter. Institutional investors own 57.59% of the company’s stock.

About Similarweb

(Get Free Report)

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.

Further Reading

Analyst Recommendations for Similarweb (NYSE:SMWB)

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