Similarweb (NYSE:SMWB) Shares Gap Up - Should You Buy?

Key Points

• Similarweb shares opened higher, rising from a previous close of $8.47 to $8.88 before trading around $8.48. The stock’s 50-day and 200-day moving averages are $7.81 and $5.05, respectively.
• Analyst sentiment has improved, with Barclays, Northland Securities, Oppenheimer and Needham raising targets or ratings. However, the consensus remains “Hold”, with a $9.71 price target.
• Similarweb reported quarterly revenue of $77.19 million and earnings of $0.06 per share, but remains unprofitable with a negative 7.37% net margin. Insiders sold about $12.5 million of stock over the past three months, while institutions own 57.59% of shares.

Similarweb Ltd. (NYSE:SMWB - Get Free Report)'s stock price gapped up prior to trading on Wednesday . The stock had previously closed at $8.47, but opened at $8.88. Similarweb shares last traded at $8.4770, with a volume of 126,860 shares changing hands.

Analysts Set New Price Targets

SMWB has been the subject of a number of research analyst reports. Barclays lifted their price target on Similarweb from $5.00 to $11.00 and gave the stock an "overweight" rating in a report on Thursday, August 13th. Northland Securities raised Similarweb from a "market perform" rating to an "outperform" rating and raised their price objective for the company from $5.00 to $10.00 in a research report on Wednesday, August 12th. Oppenheimer lifted their target price on Similarweb from $7.00 to $8.50 and gave the stock an "outperform" rating in a research note on Wednesday, August 5th. Needham & Company LLC raised Similarweb from a "hold" rating to a "buy" rating and set a $11.00 target price on the stock in a report on Wednesday. Finally, Wall Street Zen cut Similarweb from a "strong-buy" rating to a "buy" rating in a research note on Saturday. Five analysts have rated the stock with a Buy rating, four have given a Hold rating and one has issued a Sell rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of "Hold" and a consensus price target of $9.71.

Similarweb Stock Performance

The company's fifty day simple moving average is $7.81 and its two-hundred day simple moving average is $5.05. The stock has a market capitalization of $738.91 million, a P/E ratio of -33.76 and a beta of 1.21.

Similarweb (NYSE:SMWB - Get Free Report) last announced its earnings results 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%.

Insider Buying and Selling at Similarweb

In other news, CEO Or Offer sold 26,691 shares of the business's stock in a transaction dated Tuesday, September 15th. The shares were sold at an average price of $8.53, for a total value of $227,674.23. Following the completion of the sale, the chief executive officer owned 4,253,500 shares of the company's stock, valued at approximately $36,282,355. The trade was a 0.62% decrease in their ownership of the stock. The sale was disclosed in a legal 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 sold a total of 1,437,515 shares of company stock worth $12,534,797 over the last three months.

Institutional Trading of Similarweb

Several hedge funds and other institutional investors have recently bought and sold shares of the business. Integrated Wealth Concepts LLC bought a new stake in shares of Similarweb in the second quarter worth $92,000. Royce & Associates LP raised its position in Similarweb by 8.7% during the 4th quarter. Royce & Associates LP now owns 537,406 shares of the company's stock worth $4,025,000 after purchasing an additional 43,078 shares during the last quarter. Bank of America Corp DE lifted its holdings in Similarweb by 475.3% during the 1st quarter. Bank of America Corp DE now owns 63,985 shares of the company's stock worth $167,000 after buying an additional 52,863 shares during the period. S Squared Technology LLC lifted its holdings in Similarweb by 12.9% during the 4th quarter. S Squared Technology LLC now owns 775,161 shares of the company's stock worth $5,806,000 after buying an additional 88,489 shares during the period. Finally, Nano Cap New Millennium Growth Fund L P bought a new stake in shares of Similarweb in the 4th quarter valued at about $1,255,000. Institutional investors and hedge funds own 57.59% of the company's stock.

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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