Similarweb Ltd. (NYSE:SMWB) Stock Has Average Price Target of $9.71

Shares of Similarweb Ltd. (NYSE:SMWB) have received a consensus recommendation of “Moderate Buy” from the eleven brokerages that are presently covering the firm, Marketbeat reports. One equities research analyst has rated the stock with a sell rating, four have issued a hold rating, five have issued a buy rating and one has given a strong buy rating to the company. The average 12-month target price among brokerages that have issued ratings on the stock in the last year is $9.71.

A number of equities research analysts recently commented on the company. Citigroup boosted their target price on Similarweb from $7.00 to $9.00 and gave the stock a “neutral” rating in a research report on Thursday, August 13th. Wall Street Zen cut Similarweb from a “strong-buy” rating to a “buy” rating in a report on Sunday, October 11th. Barclays lifted their price objective on Similarweb from $5.00 to $11.00 and gave the stock an “overweight” rating in a research note on Thursday, August 13th. Needham & Company LLC upgraded Similarweb from a “hold” rating to a “buy” rating and set a $11.00 target price for the company in a research report on Wednesday, September 16th. Finally, Weiss Ratings reaffirmed a “sell (e+)” rating on shares of Similarweb in a research note on Wednesday, August 12th.

Insider Buying and Selling at Similarweb

In other news, CEO Or Offer sold 114,300 shares of the company’s stock in a transaction dated Thursday, September 24th. The shares were sold at an average price of $7.69, for a total transaction of $878,967.00. Following the sale, the chief executive officer directly owned 3,930,481 shares in the company, valued at approximately $30,225,398.89. This represents a 2.83% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last 90 days, insiders have sold 1,760,534 shares of company stock valued at $15,163,145. Insiders own 62.40% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently added to or reduced their stakes in SMWB. Wellington Management Group LLP increased its stake in Similarweb by 22.2% during the second quarter. Wellington Management Group LLP now owns 3,624,685 shares of the company’s stock worth $22,219,000 after acquiring an additional 657,928 shares during the last quarter. Renaissance Technologies LLC lifted its position in Similarweb by 104.6% in the first quarter. Renaissance Technologies LLC now owns 739,673 shares of the company’s stock worth $1,931,000 after buying an additional 378,200 shares during the last quarter. Militia Capital Management LLC bought a new stake in Similarweb in the first quarter worth $616,000. Lavelle Capital LP purchased a new position in Similarweb during the first quarter worth $529,000. Finally, Bank of America Corp DE lifted its holdings in shares of Similarweb by 475.3% in the 1st quarter. Bank of America Corp DE now owns 63,985 shares of the company’s stock worth $167,000 after acquiring an additional 52,863 shares during the last quarter. Hedge funds and other institutional investors own 57.59% of the company’s stock.

Similarweb Price Performance

SMWB stock opened at $8.82 on Friday. Similarweb has a 1-year low of $2.22 and a 1-year high of $9.50. The company has a market capitalization of $773.07 million, a price-to-earnings ratio of -35.30 and a beta of 1.30. The business has a 50 day simple moving average of $8.47 and a two-hundred day simple moving average of $6.13.

Similarweb (NYSE:SMWB) last announced its quarterly earnings data on Wednesday, August 12th. The company reported $0.06 earnings per share (EPS) for the quarter. The business had revenue of $77.19 million during the quarter. Similarweb had a negative net margin of 7.37% and a negative return on equity of 19.81%.

Similarweb Company Profile

Similarweb Ltd. (NYSE: SMWB) provides digital data and market intelligence through a software-as-a-service platform. The company collects and analyzes data on website and mobile application activity to help organizations understand online audiences, markets, competitors and customer behavior.

Its products support digital marketing, search engine optimization, sales and business development, market research, investor research, e-commerce and shopper intelligence. Customers can use Similarweb’s platform to evaluate traffic sources, audience engagement, keyword performance, industry trends and competitive positioning across digital channels.

Similarweb serves enterprises, advertising and marketing agencies, financial institutions, publishers and other organizations in markets around the world.