Short Interest in Similarweb Ltd. (NYSE:SMWB) Drops By 22.3%

Similarweb Ltd. (NYSE:SMWB) was the target of a significant drop in short interest in February. As of February 13th, there was short interest totaling 478,421 shares, a drop of 22.3% from the January 29th total of 615,619 shares. Based on an average trading volume of 959,611 shares, the short-interest ratio is presently 0.5 days. Currently, 0.6% of the company’s stock are short sold. Currently, 0.6% of the company’s stock are short sold. Based on an average trading volume of 959,611 shares, the short-interest ratio is presently 0.5 days.

Similarweb Stock Performance

Shares of NYSE:SMWB traded up $0.03 during midday trading on Wednesday, hitting $2.71. The company’s stock had a trading volume of 816,905 shares, compared to its average volume of 1,983,999. The stock’s 50 day simple moving average is $5.15 and its 200 day simple moving average is $7.42. The stock has a market capitalization of $235.23 million, a price-to-earnings ratio of -6.94 and a beta of 1.17. Similarweb has a fifty-two week low of $2.22 and a fifty-two week high of $10.75.

Similarweb (NYSE:SMWB) last announced its earnings results on Tuesday, February 17th. The company reported $0.03 earnings per share for the quarter, beating the consensus estimate of $0.01 by $0.02. The firm had revenue of $72.76 million during the quarter, compared to the consensus estimate of $76.45 million. Similarweb had a negative return on equity of 70.38% and a negative net margin of 11.65%. As a group, analysts anticipate that Similarweb will post -0.24 EPS for the current year.

Hedge Funds Weigh In On Similarweb

Institutional investors and hedge funds have recently bought and sold shares of the stock. Sphera Management Technology Funds Ltd boosted its holdings in Similarweb by 3.7% in the 4th quarter. Sphera Management Technology Funds Ltd now owns 480,000 shares of the company’s stock valued at $3,595,000 after purchasing an additional 17,122 shares during the period. Numerai GP LLC acquired a new position in shares of Similarweb during the fourth quarter valued at about $883,000. Boothbay Fund Management LLC bought a new stake in shares of Similarweb in the fourth quarter valued at about $90,000. Jump Financial LLC grew its position in Similarweb by 37.7% during the fourth quarter. Jump Financial LLC now owns 63,321 shares of the company’s stock worth $474,000 after buying an additional 17,321 shares in the last quarter. Finally, Public Employees Retirement System of Ohio increased its stake in Similarweb by 29.5% during the fourth quarter. Public Employees Retirement System of Ohio now owns 60,419 shares of the company’s stock valued at $453,000 after acquiring an additional 13,746 shares during the period. Institutional investors own 57.59% of the company’s stock.

Analyst Ratings Changes

SMWB has been the topic of several research reports. William Blair lowered Similarweb from an “outperform” rating to a “market perform” rating in a research report on Wednesday, February 18th. Jefferies Financial Group reissued a “buy” rating and issued a $11.00 price target on shares of Similarweb in a research note on Friday, November 14th. Citizens Jmp lowered shares of Similarweb from an “outperform” rating to a “market perform” rating in a research note on Wednesday, February 18th. Wall Street Zen lowered Similarweb from a “buy” rating to a “hold” rating in a report on Saturday, February 21st. Finally, Oppenheimer reduced their price target on Similarweb from $7.00 to $4.00 and set an “outperform” rating for the company in a research report on Thursday, February 19th. Four equities research analysts have rated the stock with a Buy rating, six have issued a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus price target of $8.14.

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.