Similarweb (NYSE:SMWB) Stock Rating Cut to “Hold” at Zacks Research

Zacks Research lowered shares of Similarweb (NYSE:SMWB – Free Report) from a strong-buy rating to a hold rating in a research note issued to investors on Monday morning,Zacks reports.

Several other brokerages also recently weighed in on SMWB. Citigroup upped their target price on shares of Similarweb from $7.00 to $9.00 and gave the company a “neutral” rating in a research note on Thursday, August 13th. Northland Securities raised shares of Similarweb from a “market perform” rating to an “outperform” rating and lifted their price target for the stock from $5.00 to $10.00 in a research note on Wednesday, August 12th. Wall Street Zen lowered shares of Similarweb from a “strong-buy” rating to a “buy” rating in a report on Sunday. Oppenheimer upped their price objective on shares of Similarweb from $7.00 to $8.50 and gave the company an “outperform” rating in a research report on Wednesday, August 5th. Finally, Barclays raised their target price on Similarweb from $5.00 to $11.00 and gave the company an “overweight” rating in a research note on Thursday, August 13th. Five equities research analysts have rated the stock with a Buy rating, five have issued a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of “Hold” and a consensus target price of $9.71.

Check Out Our Latest Stock Report on SMWB

Similarweb Stock Performance

Similarweb stock opened at $8.76 on Monday. The stock’s 50 day moving average price is $8.52 and its 200 day moving average price is $5.57. The firm has a market capitalization of $766.94 million, a PE ratio of -35.02 and a beta of 1.36. Similarweb has a one year low of $2.22 and a one year high of $9.50.

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

Insider Activity at Similarweb

In other news, CEO Or Offer sold 574,605 shares of the firm’s stock in a transaction that occurred on Thursday, August 13th. The shares were sold at an average price of $8.80, for a total transaction of $5,056,524.00. Following the completion of the sale, the chief executive officer owned 4,598,291 shares of the company’s stock, valued at approximately $40,464,960.80. This trade represents a 11.11% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In the last three months, insiders sold 1,760,534 shares of company stock worth $15,163,145.

Institutional Trading of Similarweb

Several institutional investors have recently added to or reduced their stakes in SMWB. Wellington Management Group LLP increased its position in shares of 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 during the last quarter. CenterBook Partners LP raised its stake in shares of Similarweb by 46.9% in the 3rd quarter. CenterBook Partners LP now owns 881,065 shares of the company’s stock valued at $6,837,000 after purchasing an additional 281,328 shares in the last quarter. Renaissance Technologies LLC raised its stake in shares of Similarweb by 104.6% in the 1st 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 position in shares of Similarweb during the first quarter worth about $616,000. Finally, Lavelle Capital LP bought a new position in shares of Similarweb during the first quarter worth about $529,000. 57.59% of the stock is owned by institutional investors and hedge funds.

Similarweb Company Profile

(Get Free Report)

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.

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Analyst Recommendations for Similarweb (NYSE:SMWB)

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