Similarweb (NYSE:SMWB) Trading 7.8% Higher - Time to Buy?

Key Points

• Similarweb shares jumped 7.8% to $6.78, though trading volume was 93% below the stock’s average daily volume.
• Analyst sentiment remains mixed: the consensus rating is “Hold” with an $8.07 price target, while recent target changes ranged from $5 to $7.
• The company met quarterly EPS estimates and slightly exceeded revenue expectations, but remained unprofitable; insiders purchased 271,105 shares worth approximately $1.02 million over the past 90 days.

Similarweb Ltd. (NYSE:SMWB - Get Free Report)'s share price was up 7.8% on Monday . The stock traded as high as $6.79 and last traded at $6.78. 64,431 shares changed hands during trading, a decline of 93% from the average daily volume of 882,331 shares. The stock had previously closed at $6.29.

Analysts Set New Price Targets

SMWB has been the topic of a number of recent research reports. Oppenheimer raised their target price on Similarweb from $4.00 to $7.00 and gave the stock an "outperform" rating in a report on Thursday, June 18th. Barclays decreased their price objective on Similarweb from $7.00 to $5.00 and set an "overweight" rating on the stock in a research note on Monday, April 20th. Finally, Citigroup increased their target price on shares of Similarweb from $3.00 to $7.00 and gave the stock a "neutral" rating in a report on Thursday, July 9th. Three analysts have rated the stock with a Buy rating, seven have assigned a Hold rating and one has given a Sell rating to the company's stock. According to MarketBeat, Similarweb currently has a consensus rating of "Hold" and a consensus price target of $8.07.

Similarweb Stock Performance

The stock has a fifty day moving average of $5.27 and a 200 day moving average of $4.23. The company has a market capitalization of $602.69 million, a PE ratio of -19.66 and a beta of 1.17.

Similarweb (NYSE:SMWB - Get Free Report) last announced its quarterly earnings data on Wednesday, May 13th. The company reported $0.01 earnings per share (EPS) for the quarter, meeting analysts' consensus estimates of $0.01. Similarweb had a negative net margin of 10.38% and a negative return on equity of 48.57%. The business had revenue of $73.88 million during the quarter, compared to analyst estimates of $73.04 million. As a group, equities analysts predict that Similarweb Ltd. will post -0.08 EPS for the current year.

Insider Activity at Similarweb

In related news, Director Tamar Rapaport-Dagim purchased 40,000 shares of the firm's stock in a transaction on Monday, May 18th. The shares were acquired at an average price of $3.22 per share, for a total transaction of $128,800.00. Following the purchase, the director directly owned 63,584 shares in the company, valued at $204,740.48. This trade represents a 169.61% increase in their ownership of the stock. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, Director Barak Eilam acquired 50,000 shares of the company's stock in a transaction on Thursday, May 21st. The shares were bought at an average cost of $3.86 per share, with a total value of $193,000.00. Following the acquisition, the director directly owned 101,315 shares in the company, valued at approximately $391,075.90. The trade was a 97.44% increase in their ownership of the stock. The disclosure for this purchase is available in the SEC filing. In the last 90 days, insiders have purchased 271,105 shares of company stock valued at $1,020,726.

Hedge Funds Weigh In On Similarweb

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Militia Capital Management LLC purchased a new position in Similarweb during the 1st quarter valued at approximately $616,000. Lavelle Capital LP bought a new position in shares of Similarweb during the 1st quarter valued at approximately $529,000. Bank of America Corp DE boosted its position in shares of Similarweb by 475.3% during the 1st quarter. Bank of America Corp DE now owns 63,985 shares of the company's stock valued at $167,000 after acquiring an additional 52,863 shares during the last quarter. Renaissance Technologies LLC grew its holdings in shares of Similarweb by 104.6% in the first quarter. Renaissance Technologies LLC now owns 739,673 shares of the company's stock valued at $1,931,000 after purchasing an additional 378,200 shares in the last quarter. Finally, Sphera Management Technology Funds Ltd grew its holdings in shares of Similarweb by 3.7% in the fourth quarter. Sphera Management Technology Funds Ltd now owns 480,000 shares of the company's stock valued at $3,595,000 after purchasing an additional 17,122 shares in the last quarter. 57.59% of the stock is owned by institutional investors.

Similarweb Company Profile

Similarweb Ltd. NYSE: SMWB is a digital intelligence company that provides insights into website and mobile app performance. Its cloud-based platform aggregates and analyzes data on global web traffic, user engagement, and referral sources, enabling businesses to benchmark their digital presence against competitors. The company’s core offering includes metrics on audience behavior, traffic acquisition channels, and industry trends, which are designed to inform strategic decisions in marketing, sales, and product development.

Similarweb’s platform delivers a suite of tools for market research, competitor analysis, and performance optimization.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.