Similarweb (NYSE:SMWB) Upgraded at Wall Street Zen

Key Points

• Wall Street Zen upgraded Similarweb from “buy” to “strong buy,” adding to broadly positive analyst sentiment. The stock has an overall “Moderate Buy” rating and an average price target of $9.71.
• Similarweb shares opened at $8.79, near their 12-month high of $9.50, with a market capitalization of approximately $770 million. The company reported quarterly revenue of $77.19 million and earnings of $0.06 per share, but remained unprofitable overall.
• Insiders have been selling shares, including CEO Or Offer’s sale of 574,605 shares worth about $5.1 million. Institutional ownership stands at 57.59%, while insiders own 62.40% of the company.

Similarweb (NYSE:SMWB - Get Free Report) was upgraded by investment analysts 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.

Other equities research analysts have also recently issued reports about the stock. Needham & Company LLC upgraded shares of Similarweb from a "hold" rating to a "buy" rating and set a $11.00 price target for the company in a report on Wednesday, September 16th. Oppenheimer lifted their price objective on Similarweb from $7.00 to $8.50 and gave the stock an "outperform" rating in a research note on Wednesday, August 5th. Northland Securities raised Similarweb from a "market perform" rating to an "outperform" rating and boosted their price objective for the stock from $5.00 to $10.00 in a research report on Wednesday, August 12th. Zacks Research raised Similarweb from a "hold" rating to a "strong-buy" rating in a research report on Friday, October 2nd. Finally, Barclays increased their target price on Similarweb from $5.00 to $11.00 and gave the company an "overweight" rating in a research note on Thursday, August 13th. One investment analyst has rated the stock with a Strong Buy rating, five have issued a Buy rating, four have assigned a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat.com, the company presently has an average rating of "Moderate Buy" and an average target price of $9.71.

Similarweb Stock Down 0.3%

NYSE:SMWB opened at $8.79 on Friday. Similarweb has a 12 month low of $2.22 and a 12 month high of $9.50. The firm has a market cap of $770.00 million, a price-to-earnings ratio of -35.16 and a beta of 1.30. The company's 50 day moving average is $8.47 and its 200-day moving average is $6.15.

Similarweb (NYSE:SMWB - Get Free Report) last issued its quarterly earnings data 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 Buying and Selling

In other Similarweb news, CEO Or Offer sold 574,605 shares of the company's stock in a transaction dated Thursday, August 13th. The shares were sold at an average price of $8.80, for a total transaction of $5,056,524.00. Following the sale, the chief executive officer directly owned 4,598,291 shares of the company's stock, valued at approximately $40,464,960.80. This represents a 11.11% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Insiders have sold 1,760,534 shares of company stock valued at $15,163,145 in the last quarter. 62.40% of the stock is owned by insiders.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently modified their holdings of the business. Integrated Wealth Concepts LLC acquired a new stake in Similarweb in the second quarter worth $92,000. Wellington Management Group LLP boosted its position in shares of Similarweb by 22.2% during the second quarter. Wellington Management Group LLP now owns 3,624,685 shares of the company's stock worth $22,219,000 after purchasing an additional 657,928 shares in the last quarter. Militia Capital Management LLC acquired a new position in shares of Similarweb in the 1st quarter valued at $616,000. Lavelle Capital LP acquired a new position in shares of Similarweb in the 1st quarter valued at $529,000. Finally, Bank of America Corp DE grew its holdings in shares of Similarweb by 475.3% in the 1st quarter. Bank of America Corp DE now owns 63,985 shares of the company's stock valued at $167,000 after buying an additional 52,863 shares during the period. 57.59% of the stock is owned by institutional investors and hedge funds.

About Similarweb

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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