Similarweb (NYSE:SMWB) Cut to “Buy” at Wall Street Zen

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

A number of other equities research analysts have also recently issued reports on the stock. Northland Securities upgraded shares of Similarweb from a “market perform” rating to an “outperform” rating and upped their price target for the company from $5.00 to $10.00 in a report on Wednesday, August 12th. Barclays boosted their price objective on Similarweb from $5.00 to $11.00 and gave the stock an “overweight” rating in a research report on Thursday, August 13th. Oppenheimer increased their target price on Similarweb from $7.00 to $8.50 and gave the company an “outperform” rating in a research note on Wednesday, August 5th. Citigroup raised their target price on Similarweb from $7.00 to $9.00 and gave the company a “neutral” rating in a report on Thursday, August 13th. Finally, Weiss Ratings reissued a “sell (e+)” rating on shares of Similarweb in a research report on Wednesday, August 12th. Four research analysts have rated the stock with a Buy rating, five have assigned a Hold rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat.com, Similarweb currently has an average rating of “Hold” and a consensus target price of $10.14.

Similarweb Stock Up 6.6%

Shares of Similarweb stock opened at $8.61 on Friday. Similarweb has a 12-month low of $2.22 and a 12-month high of $10.26. The stock has a 50 day moving average price of $7.77 and a two-hundred day moving average price of $5.01. The stock has a market capitalization of $753.80 million, a P/E ratio of -34.42 and a beta of 1.21.

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

Insider Activity

In other news, CEO Or Offer sold 574,605 shares of the firm’s stock in a transaction dated Thursday, August 13th. The shares were 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 directly owned 4,598,291 shares of the company’s stock, valued at approximately $40,464,960.80. This trade represents a 11.11% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. In the last ninety days, insiders have sold 1,357,924 shares of company stock valued at $11,855,357.

Institutional Trading of Similarweb

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the business. Integrated Wealth Concepts LLC bought a new position in Similarweb during the second quarter worth about $92,000. Royce & Associates LP grew its stake in shares of Similarweb by 8.7% in the 4th quarter. Royce & Associates LP now owns 537,406 shares of the company’s stock valued at $4,025,000 after purchasing an additional 43,078 shares during the period. Bank of America Corp DE raised 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 buying an additional 52,863 shares in the last quarter. S Squared Technology LLC raised its holdings in shares of Similarweb by 12.9% in the 4th quarter. S Squared Technology LLC now owns 775,161 shares of the company’s stock worth $5,806,000 after buying an additional 88,489 shares in the last quarter. Finally, Nano Cap New Millennium Growth Fund L P bought a new position in shares of Similarweb during the 4th quarter worth approximately $1,255,000. Institutional investors own 57.59% of the company’s stock.

About Similarweb

Similarweb Ltd. is a digital intelligence company that provides data and analytics about online activity. Its platform helps organizations analyze website and mobile application performance, understand audience behavior, evaluate competitors, and identify trends across digital markets.

The company’s products support a range of business functions, including marketing, sales, market research, search engine optimization, investor research and business development. Similarweb combines data from multiple sources to provide insights into web traffic, mobile app usage, customer engagement, acquisition channels and industry positioning.

Founded in 2007, Similarweb serves businesses, agencies, financial institutions and other organizations in markets around the world.