Similarweb (NYSE:SMWB) Downgraded by Wall Street Zen to “Buy”

Wall Street Zen downgraded shares of Similarweb (NYSE:SMWB) from a strong-buy rating to a buy rating in a research report sent to investors on Sunday morning,Wall Street Zen reports.

Several other research firms also recently commented on SMWB. Barclays boosted their target price on shares of Similarweb from $5.00 to $11.00 and gave the stock an “overweight” rating in a report on Thursday, August 13th. Oppenheimer boosted their target price on shares of Similarweb from $7.00 to $8.50 and gave the stock an “outperform” rating in a research note on Wednesday, August 5th. Northland Securities raised Similarweb from a “market perform” rating to an “outperform” rating and increased their price target for the stock from $5.00 to $10.00 in a research note on Wednesday, August 12th. Citigroup raised their price target on shares of Similarweb from $7.00 to $9.00 and gave the stock a “neutral” rating in a research report on Thursday, August 13th. Finally, Needham & Company LLC upgraded shares of 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. One research analyst has rated the stock with a Strong Buy rating, five have issued a Buy rating, four have assigned 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 a consensus price target of $9.71.

Similarweb Trading Up 0.2%

SMWB stock opened at $8.76 on Friday. The business’s 50 day simple moving average is $8.51 and its 200 day simple moving average is $5.54. The firm has a market capitalization of $767.38 million, a PE ratio of -35.04 and a beta of 1.36. Similarweb has a 1-year low of $2.22 and a 1-year high of $9.50.

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

Insider Buying and Selling

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

Hedge Funds Weigh In On Similarweb

A number of institutional investors and hedge funds have recently bought and sold shares of the business. Wellington Management Group LLP lifted its stake in Similarweb by 22.2% in 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 increased its stake in Similarweb by 104.6% during the 1st 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 period. Militia Capital Management LLC bought a new stake in shares of Similarweb during the 1st quarter valued at about $616,000. Lavelle Capital LP bought a new position in shares of Similarweb in the first quarter valued at approximately $529,000. Finally, Bank of America Corp DE boosted its stake in 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 purchasing an additional 52,863 shares during the period. 57.59% of the stock is currently owned by institutional investors and hedge funds.

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.