Similarweb (NYSE:SMWB) Rating Lowered to "Neutral" at Citigroup

Key Points

• Citigroup downgraded Similarweb from "buy" to "neutral" with a $3.00 price target (about 20.8% upside), joining several other firms that have trimmed ratings and leaving the stock with a consensus "Hold" and an average analyst target of $7.36.
• Stock and fundamentals remain challenged: SMWB opened at $2.48 with a $215.9M market cap and a 1-year range of $2.22–$10.75; the company beat quarterly EPS estimates ($0.03 vs. $0.01) but posted a negative net margin (-11.65%) and negative ROE (-70.38%), and analysts expect -$0.24 EPS for the fiscal year.

Similarweb (NYSE:SMWB - Get Free Report) was downgraded by analysts at Citigroup from a "buy" rating to a "neutral" rating in a research note issued on Friday, MarketBeat Ratings reports. They currently have a $3.00 target price on the stock. Citigroup's price target indicates a potential upside of 20.82% from the stock's current price.

Several other equities research analysts also recently weighed in on the company. Citizens Jmp downgraded Similarweb from an "outperform" rating to a "market perform" rating in a research report on Wednesday, February 18th. Northland Securities downgraded Similarweb from an "outperform" rating to a "market perform" rating and set a $5.00 target price on the stock. in a report on Wednesday, February 18th. Oppenheimer decreased their price target on Similarweb from $7.00 to $4.00 and set an "outperform" rating for the company in a report on Thursday, February 19th. William Blair downgraded shares of Similarweb from an "outperform" rating to a "market perform" rating in a research report on Wednesday, February 18th. Finally, The Goldman Sachs Group lowered shares of Similarweb from a "buy" rating to a "neutral" rating and set a $7.50 price objective on the stock. in a research note on Tuesday, January 13th. Three investment analysts have rated the stock with a Buy rating, seven have given a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat, the stock presently has a consensus rating of "Hold" and an average target price of $7.36.

Similarweb Stock Performance

SMWB opened at $2.48 on Friday. Similarweb has a 1 year low of $2.22 and a 1 year high of $10.75. The company's 50 day simple moving average is $3.13 and its 200 day simple moving average is $6.17. The stock has a market capitalization of $215.92 million, a PE ratio of -6.37 and a beta of 1.11.

Similarweb (NYSE:SMWB - Get Free Report) last posted its quarterly earnings results on Tuesday, February 17th. The company reported $0.03 earnings per share for the quarter, topping analysts' consensus estimates 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 company had revenue of $72.76 million for the quarter, compared to the consensus estimate of $76.45 million. As a group, sell-side analysts expect that Similarweb will post -0.24 earnings per share for the current fiscal year.

Institutional Trading of Similarweb

A number of hedge funds have recently made changes to their positions in the stock. Jump Financial LLC acquired a new stake in Similarweb in the second quarter valued at $1,457,000. Federated Hermes Inc. grew its holdings in Similarweb by 52.4% during the 2nd quarter. Federated Hermes Inc. now owns 48,000 shares of the company's stock worth $376,000 after acquiring an additional 16,500 shares in the last quarter. Qube Research & Technologies Ltd acquired a new position in Similarweb during the 2nd quarter worth $878,000. Nebula Research & Development LLC bought a new stake in shares of Similarweb in the 2nd quarter worth about $146,000. Finally, California State Teachers Retirement System increased its position in shares of Similarweb by 29.7% in the 2nd quarter. California State Teachers Retirement System now owns 49,654 shares of the company's stock worth $389,000 after purchasing an additional 11,356 shares during the last quarter. Institutional investors and hedge funds own 57.59% of the company's stock.

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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