Similarweb (NYSE:SMWB) Trading Down 2.3% – Time to Sell?

Similarweb Ltd. (NYSE:SMWB) shares were down 2.3% during mid-day trading on Thursday . The company traded as low as $14.15 and last traded at $14.19. Approximately 66,890 shares were traded during mid-day trading, a decline of 73% from the average daily volume of 244,358 shares. The stock had previously closed at $14.53.

Wall Street Analysts Forecast Growth

A number of brokerages have recently commented on SMWB. Northland Securities boosted their target price on shares of Similarweb from $15.00 to $17.00 and gave the company an “outperform” rating in a report on Tuesday, November 26th. The Goldman Sachs Group began coverage on shares of Similarweb in a research note on Wednesday, December 11th. They set a “buy” rating and a $16.00 price objective on the stock. Citigroup raised their target price on shares of Similarweb from $10.00 to $14.00 and gave the company a “buy” rating in a research note on Thursday, November 14th. Needham & Company LLC restated a “buy” rating and issued a $14.00 price target on shares of Similarweb in a research note on Wednesday, December 11th. Finally, JMP Securities restated a “market outperform” rating and issued a $17.00 price target on shares of Similarweb in a research note on Wednesday, December 11th. Nine analysts have rated the stock with a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, the company has a consensus rating of “Buy” and an average target price of $13.50.

Similarweb Trading Down 2.0 %

The firm has a 50 day simple moving average of $11.66 and a 200 day simple moving average of $9.28. The firm has a market capitalization of $1.16 billion, a PE ratio of -130.73 and a beta of 1.03.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Public Employees Retirement System of Ohio purchased a new stake in Similarweb during the 3rd quarter valued at $70,000. Quantbot Technologies LP purchased a new stake in Similarweb during the third quarter valued at $75,000. ANTIPODES PARTNERS Ltd lifted its holdings in Similarweb by 122.5% in the second quarter. ANTIPODES PARTNERS Ltd now owns 11,580 shares of the company’s stock valued at $90,000 after acquiring an additional 6,376 shares during the period. State of New Jersey Common Pension Fund D purchased a new position in Similarweb in the third quarter worth about $122,000. Finally, Barclays PLC grew its stake in shares of Similarweb by 201.0% during the 3rd quarter. Barclays PLC now owns 15,414 shares of the company’s stock valued at $136,000 after purchasing an additional 10,293 shares during the period. Institutional investors own 57.59% of the company’s stock.

About Similarweb

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.