Similarweb (NYSE:SMWB) Downgraded by Wall Street Zen to Buy

Key Points

• Wall Street Zen downgraded Similarweb from “strong buy” to “buy,” while the broader analyst consensus remains “Moderate Buy” with an average price target of $9.71.
• Similarweb shares opened at $9.06, near their 52-week high of $9.50, and have risen above their 50-day and 200-day moving averages. The company reported quarterly revenue of $77.19 million and earnings per share of $0.06.
• Insiders sold significant shares: CEO Or Offer sold 574,605 shares for about $5.1 million, while insiders sold $15.2 million worth of stock over the past 90 days. Institutional investors own 57.59% of the company.

Similarweb (NYSE:SMWB - Get Free Report) was downgraded by stock analysts at Wall Street Zen from a "strong-buy" rating to a "buy" rating in a report issued on Sunday, Wall Street Zen reports.

SMWB has been the topic of a number of other reports. Citigroup boosted their price objective on Similarweb from $7.00 to $9.00 and gave the company a "neutral" rating in a research note on Thursday, August 13th. Weiss Ratings reiterated a "sell (e+)" rating on shares of Similarweb in a report on Wednesday, August 12th. Barclays boosted their price target on Similarweb from $5.00 to $11.00 and gave the company an "overweight" rating in a research note on Thursday, August 13th. Needham & Company LLC upgraded 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. Finally, Zacks Research raised shares of Similarweb from a "hold" rating to a "strong-buy" rating in a research report on Friday, October 2nd. One equities research analyst has rated the stock with a Strong Buy rating, five have issued a Buy rating, four have issued a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat.com, the company has an average rating of "Moderate Buy" and an average price target of $9.71.

Similarweb Stock Performance

Shares of NYSE SMWB opened at $9.06 on Friday. Similarweb has a 52 week low of $2.22 and a 52 week high of $9.50. The stock's fifty day moving average is $8.29 and its 200 day moving average is $5.72. The stock has a market capitalization of $793.48 million, a P/E ratio of -36.23 and a beta of 1.30.

Similarweb (NYSE:SMWB - Get Free Report) last announced its earnings results on Wednesday, August 12th. The company reported $0.06 earnings per share 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 574,605 shares of the firm's stock in a transaction that occurred on Thursday, August 13th. The stock was sold at an average price of $8.80, for a total value of $5,056,524.00. Following the completion of the sale, the chief executive officer owned 4,598,291 shares of the company's stock, valued at approximately $40,464,960.80. This trade represents a 11.11% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Insiders sold a total of 1,760,534 shares of company stock valued at $15,163,145 in the last 90 days. 62.40% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Similarweb

A number of large investors have recently modified their holdings of the company. Integrated Wealth Concepts LLC purchased a new stake in Similarweb in the second quarter worth $92,000. Wellington Management Group LLP raised its stake 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 valued at $22,219,000 after buying an additional 657,928 shares during the period. Militia Capital Management LLC purchased a new position in shares of Similarweb during the 1st quarter valued at $616,000. Lavelle Capital LP bought a new position in shares of Similarweb during the 1st quarter worth $529,000. Finally, Bank of America Corp DE grew its stake 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. 57.59% of the stock is currently 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.

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