Similarweb Ltd. (NYSE:SMWB) Sees Large Drop in Short Interest

Similarweb Ltd. (NYSE:SMWB) was the target of a large decline in short interest in the month of April. As of April 15th, there was short interest totaling 573,412 shares, a decline of 22.6% from the March 31st total of 740,892 shares. Based on an average daily volume of 396,151 shares, the days-to-cover ratio is currently 1.4 days. Currently, 1.8% of the company’s shares are sold short.

Analysts Set New Price Targets

SMWB has been the topic of several research reports. Barclays cut their price target on shares of Similarweb from $7.00 to $5.00 and set an “overweight” rating on the stock in a report on Monday, April 20th. Needham & Company LLC downgraded shares of Similarweb from a “buy” rating to a “hold” rating in a research note on Wednesday, February 18th. Citizens Jmp downgraded shares of Similarweb from an “outperform” rating to a “market perform” rating in a research note on Wednesday, February 18th. Northland Securities lowered shares of Similarweb from an “outperform” rating to a “market perform” rating and set a $5.00 target price on the stock. in a report on Wednesday, February 18th. Finally, William Blair cut shares of Similarweb from an “outperform” rating to a “market perform” rating in a research report on Wednesday, February 18th. Three investment analysts have rated the stock with a Buy rating, seven have given a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus price target of $7.07.

Hedge Funds Weigh In On Similarweb

Hedge funds have recently added to or reduced their stakes in the business. Larson Financial Group LLC acquired a new position in shares of Similarweb in the 3rd quarter valued at about $25,000. New York State Common Retirement Fund grew its holdings in Similarweb by 0.4% in the 4th quarter. New York State Common Retirement Fund now owns 852,915 shares of the company’s stock worth $6,388,000 after buying an additional 3,170 shares in the last quarter. PDT Partners LLC increased its holdings in shares of Similarweb by 3.9% during the second quarter. PDT Partners LLC now owns 98,388 shares of the company’s stock valued at $771,000 after purchasing an additional 3,717 shares during the period. Lazard Asset Management LLC increased its stake in Similarweb by 31.9% during the 3rd quarter. Lazard Asset Management LLC now owns 19,761 shares of the company’s stock valued at $184,000 after buying an additional 4,777 shares during the period. Finally, Legal & General Group Plc increased its position in shares of Similarweb by 13.7% during the 3rd quarter. Legal & General Group Plc now owns 43,374 shares of the company’s stock valued at $403,000 after purchasing an additional 5,235 shares during the period. Institutional investors and hedge funds own 57.59% of the company’s stock.

Similarweb Trading Down 1.3%

SMWB stock traded down $0.04 during midday trading on Wednesday, hitting $2.67. 96,978 shares of the company’s stock were exchanged, compared to its average volume of 826,437. The firm has a 50 day moving average price of $2.64 and a 200-day moving average price of $5.51. Similarweb has a 12-month low of $2.22 and a 12-month high of $10.75. The stock has a market capitalization of $233.45 million, a price-to-earnings ratio of -6.83 and a beta of 1.11.

Similarweb (NYSE:SMWB) last released its earnings results on Tuesday, February 17th. The company reported $0.03 EPS for the quarter, beating the consensus estimate of $0.01 by $0.02. The company had revenue of $72.76 million during the quarter, compared to analysts’ expectations of $76.45 million. Similarweb had a negative return on equity of 70.38% and a negative net margin of 11.65%. On average, sell-side analysts forecast that Similarweb will post -0.09 EPS for the current fiscal year.

Similarweb Company Profile

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.