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

Key Points

• Similarweb (NYSE:SMWB) received a "sell (e+)" rating from Weiss Ratings, reaffirming its negative outlook on the stock.
• While several analysts maintain positive ratings, such as Citigroup's "buy" rating at a target price of $11 and Oppenheimer's "outperform" rating with a target price of $14, the overall consensus is a "Moderate Buy" with an average target price of $14.88.
• Institutional ownership stands at 57.59%, indicating a significant interest from hedge funds and institutions in Similarweb's stock.

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

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

Similarweb Stock Performance

Shares of NYSE:SMWB opened at $8.81 on Friday. The company has a 50-day simple moving average of $9.37 and a 200-day simple moving average of $8.32. Similarweb has a one year low of $6.36 and a one year high of $17.64. The stock has a market capitalization of $747.28 million, a price-to-earnings ratio of -25.16 and a beta of 1.10.

Institutional Trading of Similarweb

A number of hedge funds have recently bought and sold shares of the company. Fullcircle Wealth LLC purchased a new position in Similarweb during the first quarter worth approximately $117,000. MQS Management LLC purchased a new position in Similarweb during the second quarter worth approximately $125,000. Fox Run Management L.L.C. purchased a new position in Similarweb during the second quarter worth approximately $129,000. ANTIPODES PARTNERS Ltd raised its stake in Similarweb by 8.3% during the second quarter. ANTIPODES PARTNERS Ltd now owns 17,510 shares of the company's stock worth $137,000 after purchasing an additional 1,344 shares during the period. Finally, Teacher Retirement System of Texas raised its stake in Similarweb by 70.1% during the first quarter. Teacher Retirement System of Texas now owns 18,362 shares of the company's stock worth $152,000 after purchasing an additional 7,566 shares during the period. Institutional investors and hedge funds own 57.59% of the company's stock.

About Similarweb

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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