Citigroup Issues Pessimistic Forecast for Similarweb (NYSE:SMWB) Stock Price

Similarweb (NYSE:SMWB) had its target price decreased by investment analysts at Citigroup from $11.00 to $8.50 in a note issued to investors on Friday,Benzinga reports. The firm currently has a “buy” rating on the stock. Citigroup’s price objective indicates a potential upside of 204.11% from the stock’s previous close.

Several other brokerages have also recently commented on SMWB. Oppenheimer reduced their target price on Similarweb from $7.00 to $4.00 and set an “outperform” rating on the stock in a report on Thursday. Weiss Ratings restated a “sell (d-)” rating on shares of Similarweb in a research report on Monday, December 29th. William Blair downgraded shares of Similarweb from an “outperform” rating to a “market perform” rating in a research report on Wednesday. Wall Street Zen upgraded shares of Similarweb from a “hold” rating to a “buy” rating in a research report on Saturday, December 20th. Finally, Barclays set a $7.00 target price on shares of Similarweb in a research note on Thursday. Four investment analysts have rated the stock with a Buy rating, six have issued a Hold rating and one has issued a Sell rating to the company’s stock. According to MarketBeat.com, the stock presently has an average rating of “Hold” and an average price target of $8.14.

Similarweb Stock Performance

Shares of NYSE:SMWB traded up $0.23 during mid-day trading on Friday, reaching $2.80. 1,992,505 shares of the company’s stock were exchanged, compared to its average volume of 1,172,630. The firm has a market capitalization of $237.21 million, a price-to-earnings ratio of -7.17 and a beta of 1.09. The business’s fifty day moving average price is $5.95 and its 200-day moving average price is $7.73. Similarweb has a twelve month low of $2.22 and a twelve month high of $10.75.

Similarweb (NYSE:SMWB) last posted its quarterly earnings data on Tuesday, February 17th. The company reported $0.03 earnings per share for the quarter, beating analysts’ consensus estimates of $0.01 by $0.02. The business had revenue of $72.76 million during the quarter, compared to the consensus estimate of $76.45 million. Similarweb had a negative return on equity of 70.38% and a negative net margin of 11.65%. Analysts predict that Similarweb will post -0.24 EPS for the current fiscal year.

Institutional Trading of Similarweb

Institutional investors have recently made changes to their positions in the company. Larson Financial Group LLC bought a new position in shares of Similarweb during the third quarter valued at about $25,000. Wexford Capital LP purchased a new stake in Similarweb in the 3rd quarter valued at about $64,000. Brooklyn Investment Group bought a new position in shares of Similarweb during the 4th quarter worth approximately $85,000. Boothbay Fund Management LLC purchased a new position in shares of Similarweb in the 4th quarter worth approximately $90,000. Finally, MQS Management LLC purchased a new position in shares of Similarweb in the 2nd quarter worth approximately $125,000. Institutional investors own 57.59% of the company’s stock.

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.