Similarweb Ltd. (NYSE:SMWB) Sees Significant Growth in Short Interest

Similarweb Ltd. (NYSE:SMWB - Get Free Report) saw a large growth in short interest in May. As of May 15th, there was short interest totalling 335,500 shares, a growth of 34.6% from the April 30th total of 249,200 shares. Based on an average daily trading volume, of 536,100 shares, the days-to-cover ratio is presently 0.6 days. Approximately 0.7% of the shares of the stock are sold short.

Similarweb Trading Down 0.9%

SMWB traded down $0.07 on Friday, reaching $7.91. The stock had a trading volume of 273,859 shares, compared to its average volume of 452,600. The company has a market capitalization of $653.52 million, a price-to-earnings ratio of -56.50 and a beta of 1.09. Similarweb has a fifty-two week low of $5.71 and a fifty-two week high of $17.64. The firm has a 50-day moving average of $7.36 and a 200-day moving average of $10.82.

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

Wall Street Analyst Weigh In

A number of brokerages recently issued reports on SMWB. The Goldman Sachs Group decreased their price objective on shares of Similarweb from $13.00 to $10.00 and set a "buy" rating on the stock in a research note on Thursday, April 17th. Citigroup raised their target price on Similarweb from $14.00 to $22.00 and gave the company a "buy" rating in a report on Tuesday, February 11th. Barclays lowered their price target on Similarweb from $15.00 to $10.00 and set an "overweight" rating for the company in a report on Thursday, May 15th. JMP Securities reaffirmed a "market outperform" rating and issued a $17.00 price objective on shares of Similarweb in a research note on Thursday, February 13th. Finally, Needham & Company LLC reiterated a "buy" rating and issued a $14.00 target price on shares of Similarweb in a research report on Thursday, February 13th. Nine analysts have rated the stock with a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of "Buy" and a consensus target price of $15.75.

Hedge Funds Weigh In On Similarweb

A number of hedge funds have recently modified their holdings of SMWB. Global Retirement Partners LLC acquired a new stake in Similarweb during the 4th quarter valued at approximately $29,000. New York State Common Retirement Fund acquired a new stake in shares of Similarweb during the fourth quarter worth $39,000. Heck Capital Advisors LLC bought a new position in Similarweb during the fourth quarter worth $115,000. KLP Kapitalforvaltning AS acquired a new position in Similarweb in the fourth quarter valued at $115,000. Finally, Fullcircle Wealth LLC bought a new stake in Similarweb during the first quarter valued at $117,000. Institutional investors and hedge funds own 57.59% of the company's stock.

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.