Similarweb Ltd. (NYSE:SMWB) Stock Has Consensus Target Price of $9.71 According to Analysts

Shares of Similarweb Ltd. (NYSE:SMWB) have been given an average rating of “Moderate Buy” by the eleven research firms that are covering the company, MarketBeat reports. One equities research analyst has rated the stock with a sell rating, four have assigned a hold rating, five have issued a buy rating and one has issued a strong buy rating on the company. The average 1 year target price among analysts that have updated their coverage on the stock in the last year is $9.71.

SMWB has been the topic of a number of recent research reports. Barclays boosted their price target on shares of Similarweb from $5.00 to $11.00 and gave the stock an “overweight” rating in a research report on Thursday, August 13th. Weiss Ratings reiterated a “sell (e+)” rating on shares of Similarweb in a report on Wednesday, August 12th. Northland Securities upgraded shares of Similarweb from a “market perform” rating to an “outperform” rating and increased their price objective for the company from $5.00 to $10.00 in a report on Wednesday, August 12th. Needham & Company LLC raised shares of Similarweb from a “hold” rating to a “buy” rating and set a $11.00 target price on the stock in a research note on Wednesday, September 16th. Finally, Wall Street Zen lowered shares of Similarweb from a “strong-buy” rating to a “buy” rating in a research note on Sunday, October 11th.

Insider Activity

In related news, CEO Or Offer sold 114,300 shares of the stock in a transaction that occurred on Thursday, September 24th. The stock was 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. This trade represents a 2.83% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold 1,760,534 shares of company stock valued at $15,163,145 in the last ninety days.

Hedge Funds Weigh In On Similarweb

A number of institutional investors and hedge funds have recently added to or reduced their stakes in SMWB. Integrated Wealth Concepts LLC acquired a new stake in shares of Similarweb in the 2nd quarter worth $92,000. Bank of America Corp DE raised its holdings in shares of Similarweb by 475.3% during the 1st quarter. Bank of America Corp DE now owns 63,985 shares of the company’s stock worth $167,000 after acquiring an additional 52,863 shares during the period. Lavelle Capital LP acquired a new position in shares of Similarweb during the 1st quarter valued at about $529,000. Militia Capital Management LLC acquired a new position in shares of Similarweb during the 1st quarter valued at about $572,000. Finally, Renaissance Technologies LLC boosted its position in shares of Similarweb by 104.6% during the 1st quarter. Renaissance Technologies LLC now owns 739,673 shares of the company’s stock valued at $1,931,000 after acquiring an additional 378,200 shares during the last quarter. Institutional investors and hedge funds own 57.59% of the company’s stock.

Similarweb Stock Performance

Shares of SMWB stock opened at $8.34 on Friday. The stock’s fifty day moving average is $8.41 and its two-hundred day moving average is $5.95. The firm has a market capitalization of $730.76 million, a P/E ratio of -33.37 and a beta of 1.30. Similarweb has a fifty-two week low of $2.22 and a fifty-two week high of $9.50.

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

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.