Similarweb (NYSE:SMWB) Upgraded at Wall Street Zen

Wall Street Zen upgraded shares of Similarweb (NYSE:SMWB) from a buy rating to a strong-buy rating in a report released on Saturday,Wall Street Zen reports.

SMWB has been the subject of a number of other research reports. Needham & Company LLC upgraded shares of Similarweb from a “hold” rating to a “buy” rating and set a $11.00 price objective for the company in a report on Wednesday, September 16th. Barclays upped their price target on Similarweb from $5.00 to $11.00 and gave the company an “overweight” rating in a research report on Thursday, August 13th. Zacks Research raised Similarweb from a “hold” rating to a “strong-buy” rating in a report on Friday, October 2nd. Northland Securities upgraded Similarweb from a “market perform” rating to an “outperform” rating and lifted their price objective for the stock from $5.00 to $10.00 in a research report on Wednesday, August 12th. Finally, Oppenheimer boosted their price objective on Similarweb from $7.00 to $8.50 and gave the stock an “outperform” rating in a research note on Wednesday, August 5th. One research analyst has rated the stock with a Strong Buy rating, five have assigned a Buy rating, four have issued a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $9.71.

Similarweb Stock Performance

Shares of SMWB stock opened at $8.90 on Friday. The stock’s fifty day moving average is $8.47 and its two-hundred day moving average is $5.51. The firm has a market capitalization of $780.08 million, a P/E ratio of -35.62 and a beta of 1.30. Similarweb has a fifty-two week low of $2.22 and a fifty-two week high of $9.50.

Similarweb (NYSE:SMWB) last released its earnings results 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%.

Insider Activity at Similarweb

In other news, CEO Or Offer sold 574,605 shares of the company’s stock in a transaction on Thursday, August 13th. The stock was sold at an average price of $8.80, for a total value of $5,056,524.00. Following the transaction, the chief executive officer owned 4,598,291 shares of the company’s stock, valued at $40,464,960.80. This represents a 11.11% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Over the last quarter, insiders sold 1,760,534 shares of company stock valued at $15,163,145.

Institutional Trading of Similarweb

A number of hedge funds and other institutional investors have recently modified their holdings of the business. Wellington Management Group LLP lifted its position in Similarweb by 22.2% in the second quarter. Wellington Management Group LLP now owns 3,624,685 shares of the company’s stock valued at $22,219,000 after buying an additional 657,928 shares during the last quarter. Renaissance Technologies LLC increased its position in shares of Similarweb by 104.6% during the first quarter. Renaissance Technologies LLC now owns 739,673 shares of the company’s stock valued at $1,931,000 after acquiring an additional 378,200 shares during the last quarter. Militia Capital Management LLC acquired a new stake in shares of Similarweb during the first quarter valued at about $616,000. Lavelle Capital LP purchased a new stake in shares of Similarweb in the 1st quarter valued at approximately $529,000. Finally, Bank of America Corp DE raised its stake 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 valued at $167,000 after acquiring an additional 52,863 shares during the period. 57.59% of the stock is owned by institutional investors and hedge funds.

About Similarweb

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.