Similarweb (NYSE:SMWB) Shares Gap Up - Here's Why

Similarweb Ltd. (NYSE:SMWB - Get Free Report) shares gapped up before the market opened on Monday . The stock had previously closed at $7.89, but opened at $8.27. Similarweb shares last traded at $8.31, with a volume of 126,634 shares changing hands.

Analysts Set New Price Targets

Several research firms recently weighed in on SMWB. The Goldman Sachs Group dropped their price objective on shares of Similarweb from $13.00 to $10.00 and set a "buy" rating for the company in a research report on Thursday, April 17th. Needham & Company LLC restated a "buy" rating and set a $14.00 target price on shares of Similarweb in a research report on Thursday, February 13th. Barclays decreased their price target on Similarweb from $15.00 to $10.00 and set an "overweight" rating on the stock in a report on Thursday, May 15th. Finally, JMP Securities reissued a "market outperform" rating and set a $17.00 price objective on shares of Similarweb in a report on Thursday, February 13th. Nine investment analysts have rated the stock with a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, Similarweb currently has an average rating of "Buy" and an average target price of $15.75.

Similarweb Trading Down 1.5%

The company has a market capitalization of $671.69 million, a P/E ratio of -58.07 and a beta of 1.09. The business has a 50 day moving average price of $7.40 and a 200 day moving average price of $10.73.

Similarweb (NYSE:SMWB - Get Free Report) last announced its quarterly earnings results on Tuesday, May 13th. The company reported ($0.11) earnings per share for the quarter, missing analysts' consensus estimates of ($0.02) by ($0.09). The firm had revenue of $67.09 million for the quarter, compared to the consensus estimate of $66.37 million. Similarweb had a negative return on equity of 47.62% and a negative net margin of 4.58%. On average, analysts forecast that Similarweb Ltd. will post -0.24 EPS for the current fiscal year.

Institutional Inflows and Outflows

Institutional investors have recently bought and sold shares of the stock. Meitav Investment House Ltd. lifted its position in Similarweb by 17.0% in the 4th quarter. Meitav Investment House Ltd. now owns 12,846 shares of the company's stock valued at $182,000 after acquiring an additional 1,870 shares in the last quarter. Public Employees Retirement System of Ohio boosted its position in shares of Similarweb by 25.3% during the fourth quarter. Public Employees Retirement System of Ohio now owns 9,900 shares of the company's stock worth $140,000 after buying an additional 2,000 shares during the period. Global Retirement Partners LLC bought a new position in shares of Similarweb during the fourth quarter worth about $29,000. New York State Common Retirement Fund bought a new position in shares of Similarweb during the fourth quarter worth about $39,000. Finally, Zurcher Kantonalbank Zurich Cantonalbank raised its position in Similarweb by 15.5% in the 1st quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 21,032 shares of the company's stock valued at $174,000 after buying an additional 2,825 shares during the last quarter. Institutional investors 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.