Similarweb (NYSE:SMWB) Stock Bumped Down to "Buy" by Wall Street Zen

Key Points

• Wall Street Zen downgraded Similarweb from “strong buy” to “buy,” while the broader analyst consensus remains “Moderate Buy” with a $9.71 target price.
• Similarweb shares opened at $8.76, near their 52-week high of $9.50. The company reported quarterly revenue of $77.19 million and earnings of $0.06 per share, but continued to post a negative net margin and return on equity.
• CEO Or Offer sold 114,300 shares under a pre-arranged trading plan, and insiders sold approximately $15.2 million worth of stock over the past three months. Institutional investors own 57.59% of the company.

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

A number of other research analysts have also issued reports on the company. Zacks Research upgraded Similarweb from a "hold" rating to a "strong-buy" rating in a report on Friday, October 2nd. Citigroup upped their price target on Similarweb from $7.00 to $9.00 and gave the stock a "neutral" rating in a report on Thursday, August 13th. Barclays upped their price target on Similarweb from $5.00 to $11.00 and gave the stock an "overweight" rating in a report on Thursday, August 13th. Northland Securities raised Similarweb from a "market perform" rating to an "outperform" rating and increased their price target for the company from $5.00 to $10.00 in a research report on Wednesday, August 12th. Finally, Oppenheimer lifted their price objective on Similarweb from $7.00 to $8.50 and gave the company an "outperform" rating in a research note on Wednesday, August 5th. One 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 given a Sell rating to the stock. According to MarketBeat, the company has an average rating of "Moderate Buy" and a consensus target price of $9.71.

Similarweb Stock Performance

Shares of NYSE SMWB opened at $8.76 on Friday. The company has a market cap of $767.38 million, a PE ratio of -35.04 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. The business has a 50-day simple moving average of $8.51 and a two-hundred day simple moving average of $5.54.

Similarweb (NYSE:SMWB - Get Free Report) last issued its quarterly earnings results on Wednesday, August 12th. The company reported $0.06 EPS for the quarter. Similarweb had a negative net margin of 7.37% and a negative return on equity of 19.81%. The company had revenue of $77.19 million during the quarter.

Insider Activity at Similarweb

In other news, CEO Or Offer sold 114,300 shares of the stock in a transaction dated Thursday, September 24th. The shares were sold at an average price of $7.69, for a total transaction of $878,967.00. Following the completion of the sale, the chief executive officer owned 3,930,481 shares in the company, valued at approximately $30,225,398.89. This represents a 2.83% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold 1,760,534 shares of company stock valued at $15,163,145 over the last three months. 62.40% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Similarweb

Several institutional investors have recently added to or reduced their stakes in SMWB. Lavelle Capital LP purchased a new position in shares of Similarweb during the 1st quarter worth $529,000. Renaissance Technologies LLC increased its holdings in Similarweb by 104.6% in the 1st quarter. Renaissance Technologies LLC now owns 739,673 shares of the company's stock valued at $1,931,000 after purchasing an additional 378,200 shares in the last quarter. Wellington Management Group LLP raised its holdings in shares of Similarweb by 22.2% during the 2nd 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 stake in shares of Similarweb during the first quarter valued at approximately $616,000. Finally, State of Wyoming lifted its holdings in Similarweb by 33.6% in the 3rd quarter. State of Wyoming now owns 118,170 shares of the company's stock worth $917,000 after buying an additional 29,712 shares in the last quarter. Institutional investors and hedge funds own 57.59% of the company's stock.

Similarweb Company Profile

Similarweb Ltd. NYSE: SMWB provides digital data and market intelligence through a software-as-a-service platform. The company collects and analyzes data on website and mobile application activity to help organizations understand online audiences, markets, competitors and customer behavior.

Its products support digital marketing, search engine optimization, sales and business development, market research, investor research, e-commerce and shopper intelligence. Customers can use Similarweb's platform to evaluate traffic sources, audience engagement, keyword performance, industry trends and competitive positioning across digital channels.

Similarweb serves enterprises, advertising and marketing agencies, financial institutions, publishers and other organizations in markets around the world.

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