Similarweb (NYSE:SMWB) Posts Earnings Results, Misses Estimates By $0.05 EPS

Key Points

• Similarweb reported a quarterly earnings loss of ($0.06) per share, missing the consensus estimate of ($0.01) by ($0.05).
• Despite the earnings miss, Similarweb's stock rose by 3.2%, trading at $7.09 following the announcement.
• Analysts have adjusted their price targets downwards, with Goldman Sachs lowering its target from $13.00 to $10.00, maintaining a "buy" rating.

Similarweb (NYSE:SMWB - Get Free Report) issued its quarterly earnings data on Tuesday. The company reported ($0.06) EPS for the quarter, missing analysts' consensus estimates of ($0.01) by ($0.05), Zacks reports. The company had revenue of $70.97 million for the quarter, compared to the consensus estimate of $68.84 million. Similarweb had a negative return on equity of 88.03% and a negative net margin of 10.84%. Similarweb updated its FY 2025 guidance to EPS and its Q3 2025 guidance to EPS.

Similarweb Stock Performance

Shares of NYSE SMWB traded up $0.09 during midday trading on Friday, reaching $8.48. The stock had a trading volume of 520,946 shares, compared to its average volume of 499,619. Similarweb has a 12-month low of $6.36 and a 12-month high of $17.64. The company has a market capitalization of $719.70 million, a price-to-earnings ratio of -24.23 and a beta of 1.11. The stock has a 50-day moving average of $8.14 and a 200-day moving average of $8.67.

Wall Street Analyst Weigh In

SMWB has been the topic of a number of recent analyst reports. Citigroup cut their target price on Similarweb from $13.00 to $11.00 and set a "buy" rating on the stock in a research report on Friday, August 1st. Barclays reaffirmed an "overweight" rating on shares of Similarweb in a research note on Wednesday. Eight investment analysts have rated the stock with a buy rating and one has issued a strong buy rating to the company's stock. Based on data from MarketBeat, Similarweb has a consensus rating of "Buy" and an average target price of $15.00.

Hedge Funds Weigh In On Similarweb

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

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.