Similarweb Ltd. (NYSE:SMWB – Get Free Report) was the recipient of a large growth in short interest in August. As of August 31st, there was short interest totaling 640,766 shares, a growth of 59.2% from the August 15th total of 402,389 shares. Based on an average daily volume of 827,895 shares, the short-interest ratio is currently 0.8 days. Approximately 1.9% of the shares of the stock are sold short.
Similarweb Stock Performance
Shares of SMWB opened at $8.33 on Friday. Similarweb has a 1 year low of $2.22 and a 1 year high of $10.13. The company’s 50 day simple moving average is $7.88 and its 200 day simple moving average is $5.13. The company has a market capitalization of $729.72 million, a price-to-earnings ratio of -33.32 and a beta of 1.21.
Similarweb (NYSE:SMWB – Get Free Report) last issued its quarterly earnings results on Wednesday, August 12th. The company reported $0.06 earnings per share for the quarter. The company 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 Transactions at Similarweb
Institutional Investors Weigh In On Similarweb
Several hedge funds have recently modified their holdings of SMWB. Lavelle Capital LP acquired a new position in shares of Similarweb in the 1st quarter valued at $529,000. Renaissance Technologies LLC grew its stake in shares of Similarweb by 104.6% during the 1st quarter. Renaissance Technologies LLC now owns 739,673 shares of the company’s stock valued at $1,931,000 after buying an additional 378,200 shares during the period. Militia Capital Management LLC purchased a new stake in shares of Similarweb during the 1st quarter valued at $616,000. Wellington Management Group LLP increased its holdings in shares of Similarweb by 22.2% during the 2nd quarter. Wellington Management Group LLP now owns 3,624,685 shares of the company’s stock worth $22,219,000 after buying an additional 657,928 shares during the last quarter. Finally, UBS Group AG increased its holdings in shares of Similarweb by 71.4% during the 4th quarter. UBS Group AG now owns 536,549 shares of the company’s stock worth $4,019,000 after buying an additional 223,562 shares during the last quarter. 57.59% of the stock is owned by institutional investors and hedge funds.
Wall Street Analyst Weigh In
SMWB has been the subject of several research reports. Citigroup lifted their price target on Similarweb from $7.00 to $9.00 and gave the stock a “neutral” rating in a research note on Thursday, August 13th. Weiss Ratings restated a “sell (e+)” rating on shares of Similarweb in a research report on Wednesday, August 12th. Wall Street Zen downgraded shares of Similarweb from a “strong-buy” rating to a “buy” rating in a report on Saturday, September 12th. 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 research note on Wednesday, August 12th. Finally, Oppenheimer lifted their price objective on Similarweb from $7.00 to $8.50 and gave the stock an “outperform” rating in a research report on Wednesday, August 5th. Five research analysts have rated the stock with a Buy rating, four have assigned a Hold rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat, the company has a consensus rating of “Hold” and a consensus price target of $9.71.
Check Out Our Latest Report on SMWB
Similarweb Company Profile
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.
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