Similarweb Ltd. (NYSE:SMWB) Sees Large Drop in Short Interest

Key Points

• Short interest fell 22.6% in April to 573,412 shares (about 1.8% of the float), leaving a short-interest ratio of roughly 1.4 days.
• Shares traded at $2.67 with a market cap of about $233M and a 50-day/200-day SMA of $2.64/$5.51; the company remains unprofitable, reporting a -11.65% net margin and -70.38% return on equity.
• Analysts’ consensus is a Hold (average target $7.07) after several recent downgrades, and institutional/hedge fund ownership stands at roughly 57.6%.

Similarweb Ltd. (NYSE:SMWB - Get Free Report) was the recipient of a large decrease in short interest in the month of April. As of April 15th, there was short interest totaling 573,412 shares, a decrease of 22.6% from the March 31st total of 740,892 shares. Approximately 1.8% of the shares of the company are sold short. Based on an average daily volume of 396,151 shares, the short-interest ratio is presently 1.4 days.

Hedge Funds Weigh In On Similarweb

A number of hedge funds have recently made changes to their positions in SMWB. Larson Financial Group LLC acquired a new stake in shares of Similarweb during the 3rd quarter worth $25,000. Wexford Capital LP acquired a new position in Similarweb in the third quarter valued at $64,000. Brooklyn Investment Group purchased a new stake in Similarweb during the fourth quarter valued at about $85,000. Boothbay Fund Management LLC purchased a new stake in Similarweb during the fourth quarter valued at about $90,000. Finally, Fullcircle Wealth LLC acquired a new stake in Similarweb during the third quarter worth about $140,000. Institutional investors and hedge funds own 57.59% of the company's stock.

Similarweb Price Performance

NYSE:SMWB traded down $0.04 during mid-day trading on Wednesday, reaching $2.67. The company's stock had a trading volume of 96,978 shares, compared to its average volume of 826,437. The stock has a market cap of $233.45 million, a P/E ratio of -6.83 and a beta of 1.11. The company's fifty day simple moving average is $2.64 and its two-hundred day simple moving average is $5.51. Similarweb has a twelve month low of $2.22 and a twelve month high of $10.75.

Similarweb (NYSE:SMWB - Get Free Report) last announced its quarterly earnings data on Tuesday, February 17th. The company reported $0.03 earnings per share for the quarter, topping the consensus estimate of $0.01 by $0.02. Similarweb had a negative net margin of 11.65% and a negative return on equity of 70.38%. The business had revenue of $72.76 million for the quarter, compared to analyst estimates of $76.45 million. Sell-side analysts expect that Similarweb will post -0.09 EPS for the current fiscal year.

Analyst Ratings Changes

SMWB has been the subject of a number of research reports. Wall Street Zen cut shares of Similarweb from a "buy" rating to a "hold" rating in a report on Saturday, February 21st. Needham & Company LLC lowered Similarweb from a "buy" rating to a "hold" rating in a report on Wednesday, February 18th. Northland Securities downgraded shares of Similarweb from an "outperform" rating to a "market perform" rating and set a $5.00 price target for the company. in a report on Wednesday, February 18th. The Goldman Sachs Group lowered Similarweb from a "buy" rating to a "neutral" rating and set a $7.50 target price on the stock. in a report on Tuesday, January 13th. Finally, Oppenheimer cut their target price on shares of Similarweb from $7.00 to $4.00 and set an "outperform" rating for the company in a research report on Thursday, February 19th. Three equities research analysts have rated the stock with a Buy rating, seven have issued a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat.com, the stock has an average rating of "Hold" and an average target price of $7.07.

Similarweb Company Profile

Similarweb Ltd. NYSE: SMWB is a digital intelligence company that provides insights into website and mobile app performance. Its cloud-based platform aggregates and analyzes data on global web traffic, user engagement, and referral sources, enabling businesses to benchmark their digital presence against competitors. The company’s core offering includes metrics on audience behavior, traffic acquisition channels, and industry trends, which are designed to inform strategic decisions in marketing, sales, and product development.

Similarweb’s platform delivers a suite of tools for market research, competitor analysis, and performance optimization.

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