Similarweb (NYSE:SMWB) Price Target Raised to $8.50 at Oppenheimer

Key Points

• Oppenheimer raised Similarweb’s price target to $8.50 from $7.00 and maintained an “outperform” rating, implying roughly 14% upside from the reported $7.46 share price.
• Analyst sentiment remains mixed: Similarweb has an overall “Hold” consensus rating and an average price target of $8.29, based on three Buy, seven Hold, and one Sell rating.
• Similarweb reported quarterly revenue of $73.88 million and adjusted earnings of $0.01 per share, matching or exceeding expectations. Insiders also purchased 271,105 shares worth about $1.02 million over the past three months.

Similarweb (NYSE:SMWB - Get Free Report) had its target price boosted by investment analysts at Oppenheimer from $7.00 to $8.50 in a note issued to investors on Wednesday,Benzinga reports. The brokerage presently has an "outperform" rating on the stock. Oppenheimer's price objective indicates a potential upside of 14.02% from the stock's current price.

SMWB has been the topic of a number of other research reports. Citigroup increased their target price on Similarweb from $3.00 to $7.00 and gave the company a "neutral" rating in a research report on Thursday, July 9th. Barclays cut their target price on shares of Similarweb from $7.00 to $5.00 and set an "overweight" rating for the company in a research note on Monday, April 20th. Three equities research analysts have rated the stock with a Buy rating, seven have assigned a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat.com, the company currently has an average rating of "Hold" and a consensus target price of $8.29.

Similarweb Price Performance

SMWB stock traded up $0.04 during midday trading on Wednesday, hitting $7.46. 95,948 shares of the stock traded hands, compared to its average volume of 868,568. The stock's fifty day simple moving average is $5.74 and its 200-day simple moving average is $4.24. The firm has a market cap of $653.06 million, a P/E ratio of -21.30 and a beta of 1.14. Similarweb has a 1-year low of $2.22 and a 1-year high of $10.75.

Similarweb (NYSE:SMWB - Get Free Report) last posted its earnings results on Wednesday, May 13th. The company reported $0.01 EPS for the quarter, meeting analysts' consensus estimates of $0.01. The firm had revenue of $73.88 million for the quarter, compared to analysts' expectations of $73.04 million. Similarweb had a negative return on equity of 48.57% and a negative net margin of 10.38%. On average, research analysts predict that Similarweb will post -0.08 earnings per share for the current year.

Insider Buying and Selling at Similarweb

In other Similarweb news, Director Barak Eilam purchased 50,000 shares of the stock in a transaction that occurred on Thursday, May 21st. The shares were purchased at an average cost of $3.86 per share, for a total transaction of $193,000.00. Following the completion of the transaction, the director owned 101,315 shares of the company's stock, valued at $391,075.90. The trade was a 97.44% increase in their position. The acquisition was disclosed in a document filed with the SEC, which is available through the SEC website. Also, CEO Or Offer acquired 53,000 shares of the company's stock in a transaction that occurred on Tuesday, May 19th. The shares were acquired at an average cost of $3.58 per share, with a total value of $189,740.00. Following the purchase, the chief executive officer owned 4,694,396 shares in the company, valued at $16,805,937.68. This represents a 1.14% increase in their position. The disclosure for this purchase is available in the SEC filing. In the last three months, insiders bought 271,105 shares of company stock valued at $1,020,726.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently modified their holdings of the company. Larson Financial Group LLC purchased a new position in Similarweb during the third quarter worth about $25,000. New York State Common Retirement Fund lifted its stake in shares of Similarweb by 0.4% in the 4th quarter. New York State Common Retirement Fund now owns 852,915 shares of the company's stock valued at $6,388,000 after purchasing an additional 3,170 shares during the last quarter. PDT Partners LLC grew its holdings in shares of Similarweb by 3.9% during the 2nd quarter. PDT Partners LLC now owns 98,388 shares of the company's stock worth $771,000 after purchasing an additional 3,717 shares during the period. Lazard Asset Management LLC increased its position in shares of Similarweb by 31.9% during the 3rd quarter. Lazard Asset Management LLC now owns 19,761 shares of the company's stock worth $184,000 after purchasing an additional 4,777 shares during the last quarter. Finally, Legal & General Group Plc raised its holdings in Similarweb by 13.7% in the 3rd quarter. Legal & General Group Plc now owns 43,374 shares of the company's stock valued at $403,000 after buying an additional 5,235 shares during the period. Institutional investors and hedge funds own 57.59% of the company's stock.

About Similarweb

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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