Similarweb (NYSE:SMWB) Stock Price Down 5.1% - Here's What Happened

Shares of Similarweb Ltd. (NYSE:SMWB - Get Free Report) traded down 5.1% during mid-day trading on Friday . The stock traded as low as $8.23 and last traded at $8.24. 91,500 shares were traded during trading, a decline of 81% from the average session volume of 490,717 shares. The stock had previously closed at $8.68.

Wall Street Analysts Forecast Growth

SMWB has been the subject of several research analyst reports. 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. The Goldman Sachs Group cut 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. Nine analysts have rated the stock with a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, the company presently has an average rating of "Buy" and an average target price of $15.75.

Similarweb Price Performance

The company's 50 day moving average price is $7.79 and its 200 day moving average price is $10.01. The firm has a market cap of $688.64 million, a PE ratio of -37.88 and a beta of 1.10.

Similarweb (NYSE:SMWB - Get Free Report) last released its quarterly earnings data 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 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 71.14% and a negative net margin of 6.97%. Sell-side analysts expect that Similarweb Ltd. will post -0.24 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Institutional investors have recently added to or reduced their stakes in the company. KLP Kapitalforvaltning AS purchased a new position in shares of Similarweb during the 4th quarter worth about $115,000. Heck Capital Advisors LLC bought a new stake in shares of Similarweb in the fourth quarter worth $115,000. Fullcircle Wealth LLC bought a new stake in shares of Similarweb in the first quarter worth $117,000. Public Employees Retirement System of Ohio increased its stake in shares of Similarweb by 25.3% in 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 last quarter. Finally, Teacher Retirement System of Texas increased its stake in shares of Similarweb by 70.1% in the first quarter. Teacher Retirement System of Texas now owns 18,362 shares of the company's stock worth $152,000 after buying an additional 7,566 shares during the last quarter. 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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