Similarweb Ltd. (NYSE:SMWB) Short Interest Up 140.5% in July

Key Points

• Similarweb Ltd. experienced a dramatic increase in short interest, rising by 140.5% to a total of 698,200 shares as of July 15th.
• Analysts have reduced their price targets for Similarweb, with Goldman Sachs cutting their target from $13.00 to $10.00, while maintaining a "buy" rating.
• The company's recent quarterly earnings revealed a loss of ($0.11) EPS, missing analysts' estimates, although revenue was slightly higher than expected at $67.09 million.

Similarweb Ltd. (NYSE:SMWB - Get Free Report) was the recipient of a significant growth in short interest during the month of July. As of July 15th, there was short interest totaling 698,200 shares, agrowthof140.5% from the June 30th total of 290,300 shares. Based on an average daily trading volume, of 579,700 shares, the days-to-cover ratio is presently 1.2 days. Approximately1.5% of the shares of the company are short sold. Approximately1.5% of the shares of the company are short sold. Based on an average daily trading volume, of 579,700 shares, the days-to-cover ratio is presently 1.2 days.

Hedge Funds Weigh In On Similarweb

A number of hedge funds have recently modified their holdings of the business. ANTIPODES PARTNERS Ltd boosted its position in shares of Similarweb by 8.3% during the second quarter. ANTIPODES PARTNERS Ltd now owns 17,510 shares of the company's stock worth $137,000 after buying an additional 1,344 shares during the period. Public Employees Retirement System of Ohio boosted its holdings in Similarweb by 25.3% during the 4th quarter. Public Employees Retirement System of Ohio now owns 9,900 shares of the company's stock valued at $140,000 after acquiring an additional 2,000 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank boosted its holdings in Similarweb by 15.5% during the 1st quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 21,032 shares of the company's stock valued at $174,000 after acquiring an additional 2,825 shares during the period. Legal & General Group Plc grew its position in Similarweb by 21.7% in the 4th quarter. Legal & General Group Plc now owns 39,371 shares of the company's stock valued at $558,000 after acquiring an additional 7,020 shares in the last quarter. Finally, Teacher Retirement System of Texas increased its stake in Similarweb by 70.1% during the first quarter. Teacher Retirement System of Texas now owns 18,362 shares of the company's stock worth $152,000 after purchasing an additional 7,566 shares during the period. 57.59% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several research firms have commented on SMWB. Citigroup lowered their price objective on Similarweb from $13.00 to $11.00 and set a "buy" rating on the stock in a research report on Friday, August 1st. Barclays cut their price target on shares of Similarweb from $15.00 to $10.00 and set an "overweight" rating for the company in a report on Thursday, May 15th. Finally, The Goldman Sachs Group reduced their target price on Similarweb from $13.00 to $10.00 and set a "buy" rating for the company in a report on Thursday, April 17th. Eight equities research analysts have rated the stock with a buy rating and one has issued a strong buy rating to the company's stock. Based on data from MarketBeat, the stock currently has a consensus rating of "Buy" and an average price target of $15.00.

Similarweb Trading Down 5.8%

NYSE SMWB traded down $0.44 on Friday, reaching $7.12. 644,086 shares of the company were exchanged, compared to its average volume of 432,583. The business's fifty day moving average price is $8.12 and its 200 day moving average price is $9.07. The stock has a market capitalization of $604.44 million, a P/E ratio of -32.37 and a beta of 1.11. Similarweb has a fifty-two week low of $6.36 and a fifty-two week high of $17.64.

Similarweb (NYSE:SMWB - Get Free Report) last issued its earnings results on Tuesday, May 13th. The company reported ($0.11) EPS for the quarter, missing analysts' consensus estimates of ($0.02) by ($0.09). The firm had revenue of $67.09 million for the quarter, compared to analysts' expectations of $66.37 million. Similarweb had a negative return on equity of 71.14% and a negative net margin of 6.97%. Equities research analysts forecast that Similarweb will post -0.24 earnings per share for the current year.

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.