Short Interest in Similarweb Ltd. (NYSE:SMWB) Rises By 34.6%

Similarweb Ltd. (NYSE:SMWB - Get Free Report) was the recipient of a significant increase in short interest during the month of May. As of May 15th, there was short interest totalling 335,500 shares, an increase of 34.6% from the April 30th total of 249,200 shares. Currently, 0.7% of the shares of the company are short sold. Based on an average daily volume of 536,100 shares, the short-interest ratio is currently 0.6 days.

Similarweb Stock Performance

Shares of NYSE SMWB traded up $0.15 during trading hours on Wednesday, hitting $7.56. 231,407 shares of the stock were exchanged, compared to its average volume of 449,230. The company's fifty day simple moving average is $7.39 and its two-hundred day simple moving average is $10.90. The company has a market cap of $624.60 million, a PE ratio of -54.00 and a beta of 1.13. Similarweb has a 1-year low of $5.71 and a 1-year high of $17.64.

Similarweb (NYSE:SMWB - Get Free Report) last announced its quarterly earnings data on Tuesday, May 13th. The company reported ($0.11) earnings per share for the quarter, missing the consensus estimate of ($0.02) by ($0.09). Similarweb had a negative return on equity of 47.62% and a negative net margin of 4.58%. The business had revenue of $67.09 million for the quarter, compared to the consensus estimate of $66.37 million. As a group, sell-side analysts expect that Similarweb will post -0.24 EPS for the current fiscal year.

Hedge Funds Weigh In On Similarweb

A number of institutional investors have recently added to or reduced their stakes in the stock. Global Retirement Partners LLC bought a new stake in shares of Similarweb during the fourth quarter worth $29,000. New York State Common Retirement Fund acquired a new stake in shares of Similarweb during the 4th quarter valued at $39,000. Heck Capital Advisors LLC bought a new stake in Similarweb during the 4th quarter worth $115,000. KLP Kapitalforvaltning AS acquired a new position in Similarweb in the 4th quarter worth about $115,000. Finally, Fullcircle Wealth LLC acquired a new position in Similarweb in the 1st quarter worth about $117,000. 57.59% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several analysts recently commented on SMWB shares. JMP Securities reaffirmed a "market outperform" rating and set a $17.00 target price on shares of Similarweb in a report on Thursday, February 13th. Needham & Company LLC restated a "buy" rating and set a $14.00 price objective on shares of Similarweb in a report on Thursday, February 13th. Barclays lowered their target price on Similarweb from $15.00 to $10.00 and set an "overweight" rating on the stock in a research note on Thursday, May 15th. Citigroup boosted their price target on Similarweb from $14.00 to $22.00 and gave the company a "buy" rating in a research note on Tuesday, February 11th. Finally, The Goldman Sachs Group lowered their price objective on Similarweb from $13.00 to $10.00 and set a "buy" rating on the stock in a research report on Thursday, April 17th. Nine equities research analysts have rated the stock with a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, Similarweb has a consensus rating of "Buy" and an average price target of $15.75.

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.