Similarweb Ltd. (NYSE:SMWB) Sees Large Growth in Short Interest

Similarweb Ltd. (NYSE:SMWB) saw a significant increase in short interest during the month of February. As of February 27th, there was short interest totaling 1,007,583 shares, an increase of 110.6% from the February 12th total of 478,421 shares. Based on an average daily volume of 3,430,134 shares, the days-to-cover ratio is currently 0.3 days. Approximately 1.2% of the shares of the company are short sold. Approximately 1.2% of the shares of the company are short sold. Based on an average daily volume of 3,430,134 shares, the days-to-cover ratio is currently 0.3 days.

Institutional Trading of Similarweb

Hedge funds and other institutional investors have recently made changes to their positions in the company. New York State Common Retirement Fund acquired a new position in Similarweb in the third quarter valued at approximately $7,903,000. Royce & Associates LP acquired a new stake in Similarweb during the third quarter worth $4,597,000. First Eagle Investment Management LLC raised its position in Similarweb by 221.5% in the third quarter. First Eagle Investment Management LLC now owns 545,001 shares of the company’s stock valued at $5,069,000 after purchasing an additional 375,496 shares during the period. Jefferies Financial Group Inc. acquired a new position in shares of Similarweb in the 2nd quarter valued at $282,000. Finally, SG Americas Securities LLC acquired a new position in shares of Similarweb in the 2nd quarter valued at $255,000. Institutional investors and hedge funds own 57.59% of the company’s stock.

Similarweb Stock Up 2.1%

Shares of Similarweb stock opened at $2.67 on Friday. The business has a 50-day moving average price of $4.51 and a 200 day moving average price of $7.13. The firm has a market cap of $231.75 million, a PE ratio of -6.83 and a beta of 1.17. Similarweb has a twelve month low of $2.22 and a twelve month high of $10.75.

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

Analyst Upgrades and Downgrades

SMWB has been the subject of a number of recent research reports. Jefferies Financial Group reiterated a “buy” rating and set a $11.00 price objective on shares of Similarweb in a research note on Friday, November 14th. The Goldman Sachs Group downgraded Similarweb from a “buy” rating to a “neutral” rating and set a $7.50 target price on the stock. in a research note on Tuesday, January 13th. Northland Securities lowered Similarweb from an “outperform” rating to a “market perform” rating and set a $5.00 target price on the stock. in a report on Wednesday, February 18th. Weiss Ratings reiterated a “sell (d-)” rating on shares of Similarweb in a research report on Monday, December 29th. Finally, Oppenheimer decreased their price target on Similarweb from $7.00 to $4.00 and set an “outperform” rating for the company in a report on Thursday, February 19th. Four equities research analysts have rated the stock with a Buy rating, six have given a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus target price 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.