Similarweb (NYSE:SMWB) Shares Down 4.4%

Similarweb Ltd. (NYSE:SMWB - Get Free Report) was down 4.4% on Thursday . The company traded as low as $7.95 and last traded at $7.95. Approximately 74,548 shares traded hands during trading, a decline of 59% from the average daily volume of 183,063 shares. The stock had previously closed at $8.32.

Analyst Upgrades and Downgrades

A number of research analysts have commented on the stock. William Blair reissued an "outperform" rating on shares of Similarweb in a research report on Tuesday, March 5th. Barclays upped their target price on Similarweb from $8.00 to $9.00 and gave the stock an "overweight" rating in a report on Thursday, February 15th. JMP Securities reissued a "market outperform" rating and issued a $14.00 price target on shares of Similarweb in a research report on Friday, March 15th. Jefferies Financial Group restated a "buy" rating and set a $10.00 price objective on shares of Similarweb in a research note on Wednesday, February 7th. Finally, Citigroup upgraded shares of Similarweb from a "neutral" rating to a "buy" rating and boosted their target price for the stock from $6.00 to $10.00 in a report on Thursday, February 15th. Six equities research analysts have rated the stock with a buy rating, According to data from MarketBeat, the company currently has a consensus rating of "Buy" and an average target price of $10.60.

Similarweb Stock Performance

The firm's 50 day simple moving average is $8.35 and its 200 day simple moving average is $6.42. The firm has a market capitalization of $626.05 million, a price-to-earnings ratio of -21.51 and a beta of 0.68.

Similarweb (NYSE:SMWB - Get Free Report) last issued its quarterly earnings data 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. The business had revenue of $56.76 million during the quarter, compared to analysts' expectations of $55.90 million. Similarweb had a negative return on equity of 203.38% and a negative net margin of 13.47%. As a group, sell-side analysts forecast that Similarweb Ltd. will post -0.2 earnings per share for the current year.

Institutional Inflows and Outflows

Large investors have recently made changes to their positions in the business. Legal & General Group Plc boosted its holdings in Similarweb by 64.8% in the 4th quarter. Legal & General Group Plc now owns 4,171 shares of the company's stock worth $27,000 after buying an additional 1,640 shares during the last quarter. ANTIPODES PARTNERS Ltd acquired a new position in Similarweb in the 3rd quarter valued at $27,000. Tower Research Capital LLC TRC purchased a new position in Similarweb in the 3rd quarter valued at $31,000. Barclays PLC boosted its stake in Similarweb by 737.4% during the 3rd quarter. Barclays PLC now owns 4,966 shares of the company's stock worth $32,000 after purchasing an additional 4,373 shares during the last quarter. Finally, Lazard Asset Management LLC purchased a new stake in shares of Similarweb during the fourth quarter worth $47,000. 57.59% of the stock is owned by institutional investors and hedge funds.

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.