Similarweb (NYSE:SMWB) Upgraded at Wall Street Zen

Key Points

• Wall Street Zen upgraded Similarweb from “buy” to “strong-buy,” while other firms including Northland Securities, Oppenheimer and Needham also raised their ratings or price targets. However, the overall analyst consensus remains “Hold,” with a $9.71 target.
• Similarweb shares opened at $7.98, near their 12-month high of $9.52, after reporting $77.19 million in quarterly revenue and $0.06 in EPS; the company remained unprofitable with a negative 7.37% net margin.
• CEO Or Offer sold 114,300 shares for approximately $879,000 under a pre-arranged trading plan, and insiders have sold about $15.2 million worth of shares over the past 90 days. Insiders own 62.4% of the company, while institutional investors own 57.6%.

Similarweb (NYSE:SMWB - Get Free Report) was upgraded by equities researchers at Wall Street Zen from a "buy" rating to a "strong-buy" rating in a note issued to investors on Saturday, Wall Street Zen reports.

Several other research firms also recently commented on SMWB. Northland Securities raised shares of Similarweb from a "market perform" rating to an "outperform" rating and boosted their target price for the stock from $5.00 to $10.00 in a research report on Wednesday, August 12th. Oppenheimer raised their price target on shares of Similarweb from $7.00 to $8.50 and gave the company an "outperform" rating in a research report on Wednesday, August 5th. Weiss Ratings reiterated a "sell (e+)" rating on shares of Similarweb in a research note on Wednesday, August 12th. Citigroup increased their price objective on Similarweb from $7.00 to $9.00 and gave the stock a "neutral" rating in a research note on Thursday, August 13th. Finally, Needham & Company LLC upgraded Similarweb from a "hold" rating to a "buy" rating and set a $11.00 target price on the stock in a report on Wednesday, September 16th. Five analysts have rated the stock with a Buy rating, four have assigned a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat.com, Similarweb has an average rating of "Hold" and a consensus price target of $9.71.

Similarweb Stock Down 2.2%

Shares of SMWB opened at $7.98 on Friday. The business's fifty day moving average is $8.17 and its 200 day moving average is $5.52. Similarweb has a 12-month low of $2.22 and a 12-month high of $9.52. The stock has a market cap of $698.96 million, a P/E ratio of -31.92 and a beta of 1.30.

Similarweb (NYSE:SMWB - Get Free Report) last announced 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 business had revenue of $77.19 million during the quarter.

Insider Buying and Selling

In other Similarweb 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 value 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 trade represents a 2.83% decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last ninety days, insiders have sold 1,760,534 shares of company stock valued at $15,163,145. Company insiders own 62.40% of the company's stock.

Hedge Funds Weigh In On Similarweb

Hedge funds and other institutional investors have recently modified their holdings of the business. Integrated Wealth Concepts LLC purchased a new stake in shares of Similarweb during the second quarter valued at approximately $92,000. Bank of America Corp DE boosted its position in Similarweb by 475.3% in the first quarter. Bank of America Corp DE now owns 63,985 shares of the company's stock worth $167,000 after purchasing an additional 52,863 shares during the last quarter. Persistent Asset Partners Ltd bought a new position in Similarweb in the 4th quarter valued at $1,348,000. Lavelle Capital LP bought a new position in Similarweb in the 1st quarter valued at $529,000. Finally, Militia Capital Management LLC bought a new position in Similarweb in the 1st quarter valued at $572,000. Hedge funds and other institutional investors own 57.59% of the company's stock.

Similarweb Company Profile

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.