Similarweb (NYSE:SMWB) Trading Up 5.8% - Time to Buy?

Similarweb Ltd. (NYSE:SMWB - Get Free Report) rose 5.8% during mid-day trading on Thursday . The stock traded as high as $8.10 and last traded at $8.00. Approximately 125,355 shares were traded during trading, a decline of 72% from the average daily volume of 449,295 shares. The stock had previously closed at $7.56.

Wall Street Analyst Weigh In

A number of research analysts have recently commented on SMWB shares. JMP Securities reiterated a "market outperform" rating and set a $17.00 price target on shares of Similarweb in a report on Thursday, February 13th. The Goldman Sachs Group lowered their price target 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. Barclays decreased their price objective on shares of Similarweb from $15.00 to $10.00 and set an "overweight" rating for the company in a report on Thursday, May 15th. Citigroup boosted their price objective on shares of Similarweb from $14.00 to $22.00 and gave the stock a "buy" rating in a research report on Tuesday, February 11th. Finally, Needham & Company LLC reaffirmed a "buy" rating and set a $14.00 price target on shares of Similarweb in a research report on Thursday, February 13th. Nine analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the company's stock. Based on data from MarketBeat.com, Similarweb has an average rating of "Buy" and an average target price of $15.75.

Similarweb Price Performance

The business's fifty day moving average price is $7.36 and its 200 day moving average price is $10.85. The stock has a market cap of $652.28 million, a P/E ratio of -56.35 and a beta of 1.09.

Similarweb (NYSE:SMWB - Get Free Report) last announced its quarterly earnings data on Tuesday, May 13th. The company reported ($0.11) EPS for the quarter, missing the consensus estimate of ($0.02) by ($0.09). The company had revenue of $67.09 million for the quarter, compared to analyst estimates 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 predict that Similarweb Ltd. will post -0.24 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Similarweb

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in SMWB. New York State Common Retirement Fund bought a new stake in Similarweb in the 4th quarter valued at about $39,000. Global Retirement Partners LLC bought a new stake in Similarweb in the 4th quarter valued at about $29,000. Meitav Investment House Ltd. grew its holdings in Similarweb by 17.0% during the 4th quarter. Meitav Investment House Ltd. now owns 12,846 shares of the company's stock valued at $182,000 after buying an additional 1,870 shares in the last quarter. Oppenheimer & Co. Inc. grew its holdings in Similarweb by 4.3% during the 4th quarter. Oppenheimer & Co. Inc. now owns 111,149 shares of the company's stock valued at $1,575,000 after buying an additional 4,542 shares in the last quarter. Finally, Bailard Inc. purchased a new position in Similarweb during the 4th quarter valued at about $644,000. 57.59% of the stock is currently owned by 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.