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 research report sent to investors on Saturday,Wall Street Zen reports.

SMWB has been the topic of several other research reports. Barclays upped their price target on Similarweb from $5.00 to $11.00 and gave the stock an “overweight” rating in a research note on Thursday, August 13th. Oppenheimer upped their price objective on Similarweb from $7.00 to $8.50 and gave the company an “outperform” rating in a research report on Wednesday, August 5th. Northland Securities raised Similarweb from a “market perform” rating to an “outperform” rating and lifted their target price for the stock from $5.00 to $10.00 in a report on Wednesday, August 12th. Weiss Ratings reissued a “sell (e+)” rating on shares of Similarweb in a report on Wednesday, August 12th. Finally, Needham & Company LLC raised Similarweb from a “hold” rating to a “buy” rating and set a $11.00 price target on the stock in a report on Wednesday, September 16th. Five equities research analysts have rated the stock with a Buy rating, four have given a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat.com, the company presently has an average rating of “Hold” and an average price target of $9.71.

Similarweb Trading Up 1.5%

Shares of Similarweb stock opened at $8.08 on Friday. Similarweb has a 12-month low of $2.22 and a 12-month high of $9.52. The company has a market cap of $707.81 million, a P/E ratio of -32.32 and a beta of 1.30. The company’s fifty day simple moving average is $8.19 and its two-hundred day simple moving average is $5.58.

Similarweb (NYSE:SMWB) last issued its quarterly earnings data on Wednesday, August 12th. The company reported $0.06 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 Transactions at Similarweb

In other Similarweb news, CEO Or Offer sold 114,300 shares of Similarweb stock in a transaction that occurred on Thursday, September 24th. The shares were sold at an average price of $7.69, for a total value of $878,967.00. Following the completion of the sale, the chief executive officer owned 3,930,481 shares of the company’s stock, valued at approximately $30,225,398.89. The trade was a 2.83% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold a total of 1,760,534 shares of company stock valued at $15,163,145 in the last 90 days.

Hedge Funds Weigh In On Similarweb

Hedge funds and other institutional investors have recently modified their holdings of the company. Integrated Wealth Concepts LLC purchased a new position in shares of Similarweb in the 2nd quarter worth $92,000. Bank of America Corp DE lifted its holdings in Similarweb by 475.3% in the first 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. Lavelle Capital LP bought a new position in Similarweb in the first quarter valued at about $529,000. Militia Capital Management LLC purchased a new position in Similarweb in the first quarter worth about $572,000. Finally, Persistent Asset Partners Ltd bought a new stake in shares of Similarweb during the 4th quarter valued at about $1,348,000. 57.59% of the stock is owned by institutional investors.

About Similarweb

Similarweb Ltd. (NYSE: SMWB) provides digital intelligence and market research solutions that help businesses understand online activity and competitive dynamics. Its platform analyzes digital behavior across websites and mobile applications, offering insights into audience interests, traffic sources, engagement, user journeys and industry trends.

The company serves customers across a range of industries, including technology, retail, financial services, media and advertising. Its products support marketing, sales, business development, investor research and strategy teams by helping them identify market opportunities, evaluate competitors, assess customer demand and monitor digital performance.

Similarweb was founded in 2007 by Or Offer and Nir Cohen and is headquartered in Israel, with operations and customers serving markets internationally.