Similarweb (NYSE:SMWB) Trading 5.8% Higher - Should You Buy?

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

Analyst Upgrades and Downgrades

A number of brokerages have recently commented on SMWB. Barclays dropped their price target on Similarweb from $15.00 to $10.00 and set an "overweight" rating for the company in a research note on Thursday, May 15th. Citigroup lifted their price target on Similarweb from $14.00 to $22.00 and gave the company a "buy" rating in a research note on Tuesday, February 11th. Needham & Company LLC reaffirmed a "buy" rating and issued a $14.00 price objective on shares of Similarweb in a research note on Thursday, February 13th. 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 report on Thursday, April 17th. Finally, JMP Securities reiterated a "market outperform" rating and set a $17.00 target price on shares of Similarweb in a research report on Thursday, February 13th. Nine investment analysts have rated the stock with a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, Similarweb presently has an average rating of "Buy" and an average price target of $15.75.

Similarweb Trading Down 0.9%

The business's 50-day simple moving average is $7.36 and its two-hundred day simple moving average is $10.81. The firm has a market cap of $653.52 million, a price-to-earnings ratio of -56.50 and a beta of 1.09.

Similarweb (NYSE:SMWB - Get Free Report) last announced its 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 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Similarweb

Large investors have recently added to or reduced their stakes in the business. Palogic Value Management L.P. acquired a new stake in shares of Similarweb during the 1st quarter worth approximately $864,000. PDT Partners LLC grew its holdings in Similarweb by 151.3% in the first quarter. PDT Partners LLC now owns 94,671 shares of the company's stock worth $783,000 after purchasing an additional 56,991 shares during the period. Cubist Systematic Strategies LLC increased its stake in Similarweb by 80.2% in the first quarter. Cubist Systematic Strategies LLC now owns 185,502 shares of the company's stock valued at $1,534,000 after purchasing an additional 82,536 shares in the last quarter. Trexquant Investment LP increased its stake in Similarweb by 104.5% in the first quarter. Trexquant Investment LP now owns 213,683 shares of the company's stock valued at $1,767,000 after purchasing an additional 109,208 shares in the last quarter. Finally, T. Rowe Price Investment Management Inc. raised its holdings in shares of Similarweb by 109.1% during the first quarter. T. Rowe Price Investment Management Inc. now owns 1,410,826 shares of the company's stock valued at $11,668,000 after purchasing an additional 736,004 shares during the period. 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.