Similarweb (NYSE:SMWB) Given New $8.50 Price Target at Oppenheimer

Similarweb (NYSE:SMWB) had its target price hoisted by Oppenheimer from $7.00 to $8.50 in a research note issued on Wednesday,Benzinga reports. The firm presently has an “outperform” rating on the stock. Oppenheimer’s price objective suggests a potential upside of 14.02% from the company’s previous close.

SMWB has been the subject of several other research reports. Citigroup raised their price target on shares of Similarweb from $3.00 to $7.00 and gave the company a “neutral” rating in a research report on Thursday, July 9th. Barclays decreased their target price on Similarweb from $7.00 to $5.00 and set an “overweight” rating for the company in a report on Monday, April 20th. Three analysts have rated the stock with a Buy rating, seven have given a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of “Hold” and an average price target of $8.29.

Similarweb Trading Up 0.5%

SMWB traded up $0.04 during mid-day trading on Wednesday, hitting $7.46. 95,948 shares of the stock were exchanged, compared to its average volume of 868,568. The firm’s fifty day moving average is $5.74 and its two-hundred day moving average is $4.24. Similarweb has a 1-year low of $2.22 and a 1-year high of $10.75. The company has a market cap of $653.06 million, a PE ratio of -21.30 and a beta of 1.14.

Similarweb (NYSE:SMWB) last released its earnings results on Wednesday, May 13th. The company reported $0.01 earnings per share for the quarter, meeting the consensus estimate of $0.01. The company had revenue of $73.88 million during the quarter, compared to the consensus estimate of $73.04 million. Similarweb had a negative return on equity of 48.57% and a negative net margin of 10.38%. As a group, research analysts anticipate that Similarweb will post -0.08 earnings per share for the current year.

Insiders Place Their Bets

In other Similarweb news, Director Tamar Rapaport-Dagim purchased 40,000 shares of the firm’s stock in a transaction on Monday, May 18th. The stock was bought at an average cost of $3.22 per share, with a total value of $128,800.00. Following the acquisition, the director directly owned 63,584 shares of the company’s stock, valued at approximately $204,740.48. This represents a 169.61% increase in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CEO Or Offer acquired 50,000 shares of the company’s stock in a transaction dated Monday, June 1st. The stock was acquired at an average price of $4.15 per share, for a total transaction of $207,500.00. Following the acquisition, the chief executive officer owned 4,744,396 shares in the company, valued at approximately $19,689,243.40. The trade was a 1.07% increase in their position. The SEC filing for this purchase provides additional information. Insiders have purchased 271,105 shares of company stock valued at $1,020,726 in the last three months.

Institutional Inflows and Outflows

Several large investors have recently modified their holdings of SMWB. Larson Financial Group LLC purchased a new position in shares of Similarweb in the 3rd quarter valued at $25,000. Wexford Capital LP purchased a new stake in Similarweb in the third quarter valued at $64,000. Brooklyn Investment Group acquired a new position in Similarweb in the fourth quarter valued at $85,000. Boothbay Fund Management LLC acquired a new position in Similarweb in the fourth quarter valued at $90,000. Finally, Nebula Research & Development LLC purchased a new position in shares of Similarweb during the second quarter worth about $146,000. Institutional investors and hedge funds own 57.59% of the company’s stock.

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.