Similarweb (NYSE:SMWB) Shares Gap Up – What’s Next?

Similarweb Ltd. (NYSE:SMWB)’s stock price gapped up before the market opened on Wednesday . The stock had previously closed at $7.14, but opened at $7.70. Similarweb shares last traded at $8.04, with a volume of 288,316 shares trading hands.

Wall Street Analysts Forecast Growth

SMWB has been the subject of a number of research reports. Oppenheimer increased their target price on Similarweb from $13.00 to $14.00 and gave the stock an “outperform” rating in a research note on Monday, August 18th. Barclays reiterated an “overweight” rating on shares of Similarweb in a report on Wednesday, August 13th. Weiss Ratings restated a “sell (d-)” rating on shares of Similarweb in a report on Monday. Jefferies Financial Group reaffirmed a “buy” rating and set a $11.00 price objective on shares of Similarweb in a research report on Friday, November 14th. Finally, Zacks Research upgraded shares of Similarweb from a “strong sell” rating to a “hold” rating in a report on Thursday, August 14th. Nine research analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $13.38.

Similarweb Stock Up 12.1%

The firm has a fifty day moving average of $8.92 and a 200-day moving average of $8.48. The firm has a market cap of $679.36 million, a P/E ratio of -21.63 and a beta of 1.09.

Similarweb (NYSE:SMWB) last posted its quarterly earnings results on Tuesday, November 11th. The company reported $0.05 earnings per share for the quarter, topping the consensus estimate of $0.02 by $0.03. The firm had revenue of $71.79 million for the quarter, compared to analyst estimates of $71.95 million. Similarweb had a negative return on equity of 78.25% and a negative net margin of 11.20%. Similarweb has set its FY 2025 guidance at EPS. On average, equities analysts forecast that Similarweb Ltd. will post -0.24 EPS for the current year.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently modified their holdings of SMWB. Nuveen LLC bought a new stake in Similarweb in the first quarter valued at approximately $5,979,000. Herald Investment Management Ltd acquired a new position in shares of Similarweb during the 1st quarter worth approximately $2,478,000. T. Rowe Price Investment Management Inc. raised its stake in Similarweb by 109.1% in the 1st quarter. T. Rowe Price Investment Management Inc. now owns 1,410,826 shares of the company’s stock valued at $11,668,000 after acquiring an additional 736,004 shares during the period. Migdal Insurance & Financial Holdings Ltd. lifted its holdings in Similarweb by 8.8% during the 2nd quarter. Migdal Insurance & Financial Holdings Ltd. now owns 3,006,157 shares of the company’s stock valued at $23,568,000 after purchasing an additional 243,600 shares during the last quarter. Finally, First Eagle Investment Management LLC acquired a new stake in Similarweb during the 2nd quarter valued at $1,329,000. Institutional investors own 57.59% of the company’s stock.

Similarweb Company Profile

Similarweb Ltd. provides cloud-based digital intelligence solutions in the United States, Europe, the Asia Pacific, the United Kingdom, Israel, and internationally. The company offers digital research intelligence solutions for its customers to benchmark performance against competitors and market leaders, analyze trends in the market, conduct deeper research into specific companies, and analyze audience behavior; and digital marketing intelligence solutions for its customers to understand their competitors' online acquisition strategies in each marketing channel, and optimize their own strategies.