Similarweb (NYSE:SMWB) Receives "Sell (E+)" Rating from Weiss Ratings

Key Points

• Weiss Ratings has reaffirmed a "sell (E+)" rating for Similarweb (NYSE:SMWB), indicating a bearish outlook on the stock.
• Investment firm Citigroup has lowered its target price for Similarweb from $13.00 to $11.00, while Oppenheimer raised theirs from $13.00 to $14.00 with an "outperform" rating.
• Institutional investors currently hold 57.59% of Similarweb's shares, with significant increases in holdings reported by several investment firms in the last quarter.

Similarweb (NYSE:SMWB - Get Free Report)'s stock had its "sell (e+)" rating reaffirmed by investment analysts at Weiss Ratings in a report issued on Wednesday,Weiss Ratings reports.

SMWB has been the subject of several other research reports. Citigroup lowered their target price on Similarweb from $13.00 to $11.00 and set a "buy" rating for the company in a research note on Friday, August 1st. Barclays reissued an "overweight" rating on shares of Similarweb in a research note on Wednesday, August 13th. Zacks Research raised Similarweb from a "strong sell" rating to a "hold" rating in a research note on Thursday, August 14th. Finally, Oppenheimer upped their price objective on Similarweb from $13.00 to $14.00 and gave the company an "outperform" rating in a research note on Monday, August 18th. Nine investment analysts have rated the stock with a Buy rating, one has given a Hold rating and one has given a Sell rating to the company's stock. According to MarketBeat.com, the company has an average rating of "Moderate Buy" and an average price target of $14.88.

Similarweb Stock Performance

NYSE SMWB remained flat at $8.89 during trading on Wednesday. The company's stock had a trading volume of 218,161 shares, compared to its average volume of 309,681. The stock has a market capitalization of $754.49 million, a P/E ratio of -25.40 and a beta of 1.10. Similarweb has a 12-month low of $6.36 and a 12-month high of $17.64. The firm's fifty day moving average price is $9.14 and its 200 day moving average price is $8.27.

Institutional Trading of Similarweb

A number of institutional investors and hedge funds have recently added to or reduced their stakes in SMWB. California State Teachers Retirement System increased its position in Similarweb by 36.2% during the 4th quarter. California State Teachers Retirement System now owns 38,298 shares of the company's stock valued at $543,000 after purchasing an additional 10,185 shares during the period. Teacher Retirement System of Texas increased its position in Similarweb by 70.1% during the 1st quarter. Teacher Retirement System of Texas now owns 18,362 shares of the company's stock valued at $152,000 after purchasing an additional 7,566 shares during the period. Ceera Investments LLC increased its position in Similarweb by 22.8% during the 1st quarter. Ceera Investments LLC now owns 319,027 shares of the company's stock valued at $2,638,000 after purchasing an additional 59,200 shares during the period. Fullcircle Wealth LLC bought a new position in shares of Similarweb during the 1st quarter worth approximately $117,000. Finally, Victory Capital Management Inc. boosted its holdings in shares of Similarweb by 14.8% during the 1st quarter. Victory Capital Management Inc. now owns 493,370 shares of the company's stock worth $4,080,000 after buying an additional 63,588 shares in the last quarter. 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.

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