Similarweb Ltd. (NYSE:SMWB) Stock Has Average Target Price of $9.71 According to Analysts

Key Points

• Analysts hold a Moderate Buy consensus on Similarweb, with five buy ratings, one strong-buy, four holds and one sell. The average 12-month price target is $9.71.
• Similarweb shares recently traded at $8.81, up 6.1%, after several firms raised their ratings or price targets; targets cited ranged from $8.50 to $11.00.
• The company reported quarterly revenue of $77.19 million and earnings of $0.06 per share, but remains unprofitable overall, with a negative net margin of 7.37%. Insiders sold $15.16 million of stock over the past three months.

Similarweb Ltd. (NYSE:SMWB - Get Free Report) has been assigned a consensus rating of "Moderate Buy" from the eleven analysts that are covering the company, Marketbeat reports. One research analyst has rated the stock with a sell rating, four have assigned a hold rating, five have assigned a buy rating and one has assigned a strong buy rating to the company. The average twelve-month price objective among analysts that have updated their coverage on the stock in the last year is $9.71.

A number of research firms have recently issued reports on SMWB. Zacks Research upgraded shares of Similarweb from a "hold" rating to a "strong-buy" rating in a research report on Friday, October 2nd. Citigroup boosted their price objective on shares of Similarweb from $7.00 to $9.00 and gave the company a "neutral" rating in a research report on Thursday, August 13th. Needham & Company LLC upgraded shares of Similarweb from a "hold" rating to a "buy" rating and set a $11.00 price objective on the stock in a research note on Wednesday, September 16th. Northland Securities raised shares of Similarweb from a "market perform" rating to an "outperform" rating and raised their target price for the stock from $5.00 to $10.00 in a report on Wednesday, August 12th. Finally, Oppenheimer raised their target price on shares of Similarweb from $7.00 to $8.50 and gave the stock an "outperform" rating in a report on Wednesday, August 5th.

Similarweb Trading Up 6.1%

Shares of NYSE SMWB opened at $8.81 on Friday. Similarweb has a twelve month low of $2.22 and a twelve month high of $9.50. The company has a market capitalization of $771.58 million, a price-to-earnings ratio of -35.23 and a beta of 1.30. The business has a 50 day simple moving average of $8.39 and a 200-day simple moving average of $5.91.

Similarweb (NYSE:SMWB - Get Free Report) last posted its quarterly earnings results on Wednesday, August 12th. The company reported $0.06 earnings per share (EPS) for the quarter. The business 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%.

Insider Activity at Similarweb

In other news, CEO Or Offer sold 574,605 shares of the stock in a transaction that occurred on Thursday, August 13th. The stock was 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 in the company, valued at approximately $40,464,960.80. This represents a 11.11% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders sold 1,760,534 shares of company stock worth $15,163,145 over the last three months. 62.40% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Wellington Management Group LLP grew its stake in Similarweb by 22.2% during the 2nd 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 during the last quarter. Renaissance Technologies LLC lifted its stake in Similarweb by 104.6% in the first quarter. Renaissance Technologies LLC now owns 739,673 shares of the company's stock valued at $1,931,000 after buying an additional 378,200 shares during the last quarter. Militia Capital Management LLC bought a new stake in Similarweb in the first quarter valued at $616,000. Lavelle Capital LP acquired a new position in shares of Similarweb during the first quarter valued at $529,000. Finally, Bank of America Corp DE boosted its holdings 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 acquiring an additional 52,863 shares during the period. Institutional investors and hedge funds 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.

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