Similarweb Ltd. (NYSE:SMWB) Receives Consensus Rating of "Hold" from Analysts

Key Points

• Analysts collectively rate Similarweb “Hold.” Of 10 analysts, five recommend buying, four recommend holding, and one recommends selling; the average 12-month price target is $9.71 versus the recent $8.22 share price.
• Recent ratings were mixed but generally improved, with Barclays raising its target to $11 and Needham upgrading the stock to “Buy,” while Weiss Ratings maintained a sell rating.
• Insiders have been selling shares: CEO Or Offer sold 30,400 shares for about $253,840 under a pre-arranged trading plan, while insiders sold roughly $13.2 million in stock over the past quarter. Institutional investors own 57.59% of the company.

Similarweb Ltd. (NYSE:SMWB - Get Free Report) has earned an average recommendation of "Hold" from the ten brokerages that are currently covering the stock, MarketBeat.com reports. One research analyst has rated the stock with a sell rating, four have given a hold rating and five have issued a buy rating on the company. The average 1 year target price among brokers that have issued ratings on the stock in the last year is $9.7143.

A number of research analysts recently weighed in on the company. Barclays upped their price objective on Similarweb from $5.00 to $11.00 and gave the stock an "overweight" rating in a report on Thursday, August 13th. Needham & Company LLC raised Similarweb from a "hold" rating to a "buy" rating and set a $11.00 target price for the company in a report on Wednesday. Wall Street Zen lowered shares of Similarweb from a "strong-buy" rating to a "buy" rating in a research report on Saturday, September 12th. Oppenheimer upped their price target on shares of Similarweb from $7.00 to $8.50 and gave the stock an "outperform" rating in a research note on Wednesday, August 5th. Finally, Weiss Ratings reiterated a "sell (e+)" rating on shares of Similarweb in a report on Wednesday, August 12th.

Insider Buying and Selling

In other Similarweb news, CEO Or Offer sold 30,400 shares of the company's stock in a transaction dated Thursday, September 17th. The shares were sold at an average price of $8.35, for a total transaction of $253,840.00. Following the transaction, the chief executive officer directly owned 4,177,381 shares in the company, valued at approximately $34,881,131.35. This represents a 0.72% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold a total of 1,513,634 shares of company stock worth $13,172,677 over the last quarter.

Institutional Investors Weigh In On Similarweb

Several institutional investors have recently modified their holdings of the company. Integrated Wealth Concepts LLC purchased a new position in Similarweb in the 2nd quarter valued at about $92,000. Wellington Management Group LLP grew its holdings 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 buying an additional 657,928 shares in the last quarter. Militia Capital Management LLC acquired a new position in shares of Similarweb in the first quarter valued at approximately $616,000. Lavelle Capital LP acquired a new position in shares of Similarweb in the first quarter valued at approximately $529,000. Finally, Bank of America Corp DE lifted its stake in shares of Similarweb by 475.3% during the first 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. Hedge funds and other institutional investors own 57.59% of the company's stock.

Similarweb Stock Down 0.1%

Shares of NYSE:SMWB opened at $8.22 on Monday. The company has a market cap of $720.42 million, a P/E ratio of -32.90 and a beta of 1.21. Similarweb has a 52 week low of $2.22 and a 52 week high of $10.04. The company has a 50-day moving average price of $7.91 and a 200 day moving average price of $5.17.

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

Similarweb Company Profile

Similarweb Ltd. is a digital intelligence company that provides data and analytics about online activity. Its platform helps organizations analyze website and mobile application performance, understand audience behavior, evaluate competitors, and identify trends across digital markets.

The company's products support a range of business functions, including marketing, sales, market research, search engine optimization, investor research and business development. Similarweb combines data from multiple sources to provide insights into web traffic, mobile app usage, customer engagement, acquisition channels and industry positioning.

Founded in 2007, Similarweb serves businesses, agencies, financial institutions and other organizations in markets around the world.

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