Similarweb (NYSE:SMWB) Stock Gets Downgrade from Wall Street Zen

Similarweb (NYSE:SMWB) was downgraded by investment analysts at Wall Street Zen from a “strong-buy” rating to a “buy” rating in a report issued on Sunday, Wall Street Zen reports.

A number of other brokerages have also issued reports on SMWB. Citigroup raised their target price 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. Oppenheimer lifted 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. Zacks Research upgraded Similarweb from a “hold” rating to a “strong-buy” rating in a report on Friday, October 2nd. 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. Finally, Barclays raised their price objective on Similarweb from $5.00 to $11.00 and gave the stock an “overweight” rating in a report on Thursday, August 13th. One equities research analyst has rated the stock with a Strong Buy rating, five have given a Buy rating, four have assigned a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat, Similarweb has a consensus rating of “Moderate Buy” and an average target price of $9.71.

Similarweb Trading Down 2.7%

Shares of SMWB stock opened at $8.81 on Friday. The company has a market capitalization of $771.76 million, a price-to-earnings ratio of -35.24 and a beta of 1.30. The firm has a 50-day moving average price of $8.32 and a 200 day moving average price of $5.79. Similarweb has a twelve month low of $2.22 and a twelve month high of $9.50.

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

In other news, CEO Or Offer sold 114,300 shares of the stock in a transaction 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 $30,225,398.89. This represents a 2.83% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold 1,760,534 shares of company stock worth $15,163,145 in the last ninety days.

Hedge Funds Weigh In On Similarweb

Several hedge funds and other institutional investors have recently made changes to their positions in the business. Lavelle Capital LP acquired a new position in shares of Similarweb during the first quarter worth about $529,000. Renaissance Technologies LLC boosted its position in shares of Similarweb by 104.6% in the first 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. Wellington Management Group LLP boosted its position in shares of 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 buying an additional 657,928 shares during the period. Militia Capital Management LLC acquired a new stake in shares of Similarweb in the first quarter valued at about $616,000. Finally, Persistent Asset Partners Ltd purchased a new position in shares of Similarweb in the fourth quarter valued at $1,348,000. Institutional investors and hedge funds own 57.59% of the company’s stock.

Similarweb Company Profile

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.