Similarweb (NYSE:SMWB) Shares Up 5.5%

Similarweb Ltd. (NYSE:SMWB - Get Free Report) shares rose 5.5% on Thursday . The company traded as high as $8.00 and last traded at $8.00. Approximately 133,105 shares traded hands during trading, a decline of 26% from the average daily volume of 179,405 shares. The stock had previously closed at $7.58.

Analyst Upgrades and Downgrades

SMWB has been the subject of a number of analyst reports. JMP Securities reiterated a "market outperform" rating and issued a $14.00 price target on shares of Similarweb in a research note on Friday, March 15th. Citigroup raised shares of Similarweb from a "neutral" rating to a "buy" rating and increased their price objective for the company from $6.00 to $10.00 in a report on Thursday, February 15th. Jefferies Financial Group reissued a "buy" rating and issued a $10.00 target price on shares of Similarweb in a report on Wednesday, February 7th. Barclays raised their target price on shares of Similarweb from $8.00 to $9.00 and gave the company an "overweight" rating in a research note on Thursday, February 15th. Finally, William Blair reiterated an "outperform" rating on shares of Similarweb in a research note on Tuesday, March 5th. Six investment analysts have rated the stock with a buy rating, According to MarketBeat, the stock has an average rating of "Buy" and an average target price of $10.60.

Similarweb Price Performance

The business has a 50-day moving average of $8.21 and a 200-day moving average of $6.75. The company has a market capitalization of $617.02 million, a P/E ratio of -31.38 and a beta of 0.75.

Similarweb (NYSE:SMWB - Get Free Report) last announced its earnings results on Tuesday, February 13th. The company reported ($0.04) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.05) by $0.01. Similarweb had a negative return on equity of 129.91% and a negative net margin of 9.04%. The business had revenue of $56.76 million during the quarter, compared to analyst estimates of $55.90 million. Sell-side analysts predict that Similarweb Ltd. will post -0.2 EPS for the current fiscal year.

Institutional Trading of Similarweb

Hedge funds and other institutional investors have recently bought and sold shares of the business. Barclays PLC lifted its holdings in Similarweb by 737.4% during the 3rd quarter. Barclays PLC now owns 4,966 shares of the company's stock valued at $32,000 after buying an additional 4,373 shares in the last quarter. Swiss National Bank purchased a new stake in shares of Similarweb in the third quarter valued at approximately $391,000. Pathstone Family Office LLC bought a new position in Similarweb in the third quarter worth approximately $227,000. ANTIPODES PARTNERS Ltd purchased a new position in Similarweb during the 3rd quarter worth $27,000. Finally, ARK Investment Management LLC raised its position in Similarweb by 9.8% during the 4th quarter. ARK Investment Management LLC now owns 340,739 shares of the company's stock valued at $1,816,000 after purchasing an additional 30,543 shares in the last quarter. Hedge funds and other institutional investors own 57.59% of the company's stock.

Similarweb Company Profile

Similarweb Ltd. provides cloud-based digital intelligence solutions in the United States, Europe, the Asia Pacific, the United Kingdom, Israel, and internationally. The company offers digital research intelligence solutions for its customers to benchmark performance against competitors and market leaders, analyze trends in the market, conduct deeper research into specific companies, and analyze audience behavior; and digital marketing intelligence solutions for its customers to understand their competitors' online acquisition strategies in each marketing channel, and optimize their own strategies.