Similarweb Ltd. (NYSE:SMWB – Get Free Report) shares shot up 11.5% during trading on Monday . The company traded as high as $6.09 and last traded at $6.2450. 651,400 shares changed hands during mid-day trading, a decline of 24% from the average session volume of 859,674 shares. The stock had previously closed at $5.60.
Analyst Ratings Changes
SMWB has been the subject of a number of recent analyst reports. Citigroup cut shares of Similarweb from a “buy” rating to a “neutral” rating and lowered their price objective for the company from $8.50 to $3.00 in a research report on Friday, April 10th. Oppenheimer increased their price target on Similarweb from $4.00 to $7.00 and gave the stock an “outperform” rating in a report on Thursday, June 18th. Finally, Barclays dropped their price target on Similarweb from $7.00 to $5.00 and set an “overweight” rating on the stock in a research report on Monday, April 20th. Three analysts have rated the stock with a Buy rating, seven have given a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat, Similarweb presently has a consensus rating of “Hold” and a consensus target price of $7.50.
Read Our Latest Analysis on Similarweb
Similarweb Stock Up 11.0%
Similarweb (NYSE:SMWB – Get Free Report) last issued its earnings results on Wednesday, May 13th. The company reported $0.01 earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of $0.01. Similarweb had a negative net margin of 10.38% and a negative return on equity of 48.57%. The company had revenue of $73.88 million for the quarter, compared to analysts’ expectations of $73.04 million. Equities research analysts forecast that Similarweb Ltd. will post -0.08 earnings per share for the current fiscal year.
Insiders Place Their Bets
In related news, CEO Or Offer acquired 50,000 shares of Similarweb stock in a transaction on Monday, June 1st. The stock was purchased at an average cost of $4.15 per share, with a total value of $207,500.00. Following the completion of the transaction, the chief executive officer directly owned 4,744,396 shares in the company, valued at $19,689,243.40. This trade represents a 1.07% increase in their position. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Tamar Rapaport-Dagim purchased 40,000 shares of the stock in a transaction on Monday, May 18th. The stock was bought at an average cost of $3.22 per share, for a total transaction of $128,800.00. Following the completion of the acquisition, the director 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. Additional details regarding this purchase are available in the official SEC disclosure. In the last three months, insiders purchased 271,105 shares of company stock valued at $1,020,726.
Institutional Trading of Similarweb
Several hedge funds have recently added to or reduced their stakes in the company. Jump Financial LLC acquired a new stake in Similarweb in the 2nd quarter worth about $1,457,000. Federated Hermes Inc. increased its holdings in shares of Similarweb by 52.4% during the second quarter. Federated Hermes Inc. now owns 48,000 shares of the company’s stock worth $376,000 after purchasing an additional 16,500 shares during the period. Qube Research & Technologies Ltd acquired a new stake in shares of Similarweb in the second quarter valued at approximately $878,000. Nebula Research & Development LLC acquired a new stake in shares of Similarweb in the second quarter valued at approximately $146,000. Finally, California State Teachers Retirement System boosted its stake in shares of Similarweb by 29.7% in the second quarter. California State Teachers Retirement System now owns 49,654 shares of the company’s stock valued at $389,000 after buying an additional 11,356 shares during the period. 57.59% of the stock is owned by institutional investors and hedge funds.
About Similarweb
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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