Similarweb (NYSE:SMWB) Shares Gap Up After Better-Than-Expected Earnings

Similarweb Ltd. (NYSE:SMWB) shares gapped up before the market opened on Wednesday after the company announced better than expected quarterly earnings. The stock had previously closed at $7.25, but opened at $8.00. Similarweb shares last traded at $8.2220, with a volume of 850,868 shares changing hands.

The company reported $0.06 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.03 by $0.03. The company had revenue of $77.19 million for the quarter, compared to the consensus estimate of $75.57 million. Similarweb had a negative net margin of 10.38% and a negative return on equity of 48.57%.

Analysts Set New Price Targets

A number of equities analysts recently commented on SMWB shares. Citigroup increased their price target on Similarweb from $3.00 to $7.00 and gave the company a “neutral” rating in a research note on Thursday, July 9th. Northland Securities raised shares of Similarweb from a “market perform” rating to an “outperform” rating and set a $10.00 price objective for the company in a research note on Wednesday. Barclays decreased their target price on shares of Similarweb from $7.00 to $5.00 and set an “overweight” rating on the stock in a research report on Monday, April 20th. Finally, Oppenheimer increased their price target on shares of Similarweb from $7.00 to $8.50 and gave the company an “outperform” rating in a report on Wednesday, August 5th. Four investment analysts have rated the stock with a Buy rating, six have issued a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat, the company presently has an average rating of “Hold” and a consensus price target of $9.00.

Insider Buying and Selling

In other news, Director Harel Moshe Beit-On acquired 75,000 shares of the company’s stock in a transaction on Wednesday, May 20th. The stock was bought at an average cost of $3.89 per share, with a total value of $291,750.00. Following the completion of the purchase, the director directly owned 10,885,778 shares of the company’s stock, valued at $42,345,676.42. This represents a 0.69% increase in their ownership of the stock. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Or Offer purchased 50,000 shares of the business’s stock in a transaction that occurred on Monday, June 1st. The shares were purchased at an average price of $4.15 per share, for a total transaction of $207,500.00. Following the completion of the acquisition, the chief executive officer directly owned 4,744,396 shares in the company, valued at $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

Institutional investors have recently added to or reduced their stakes in the business. Larson Financial Group LLC purchased a new position in Similarweb during the third quarter valued at approximately $25,000. Wexford Capital LP bought a new position in shares of Similarweb in the 3rd quarter worth $64,000. Brooklyn Investment Group purchased a new stake in shares of Similarweb during the 4th quarter worth $85,000. Boothbay Fund Management LLC bought a new stake in Similarweb during the fourth quarter valued at about $90,000. Finally, Nebula Research & Development LLC purchased a new position in Similarweb in the second quarter valued at about $146,000. Hedge funds and other institutional investors own 57.59% of the company’s stock.

Similarweb Price Performance

The firm has a market capitalization of $722.80 million, a P/E ratio of -23.57 and a beta of 1.14. The stock’s fifty day simple moving average is $6.06 and its 200 day simple moving average is $4.29.

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.