Similarweb (NYSE:SMWB) Trading 8.7% Higher - What's Next?

Similarweb Ltd. (NYSE:SMWB - Get Free Report)'s share price was up 8.7% on Tuesday . The stock traded as high as $8.59 and last traded at $8.53. Approximately 399,482 shares were traded during mid-day trading, a decline of 16% from the average daily volume of 476,634 shares. The stock had previously closed at $7.84.

Wall Street Analyst Weigh In

Several research firms have recently issued reports on SMWB. Barclays lowered their price target on Similarweb from $15.00 to $10.00 and set an "overweight" rating for the company in a research report on Thursday, May 15th. The Goldman Sachs Group reduced their price objective on Similarweb from $13.00 to $10.00 and set a "buy" rating for the company in a research report on Thursday, April 17th. Nine research analysts have rated the stock with a buy rating and one has issued a strong buy rating to the company's stock. According to MarketBeat, the stock has an average rating of "Buy" and an average target price of $15.75.

Similarweb Stock Up 3.9%

The stock's 50 day moving average price is $7.64 and its 200-day moving average price is $10.22. The stock has a market capitalization of $729.53 million, a PE ratio of -40.13 and a beta of 1.10.

Similarweb (NYSE:SMWB - Get Free Report) last issued 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). Similarweb had a negative net margin of 6.97% and a negative return on equity of 71.14%. The firm had revenue of $67.09 million for the quarter, compared to analysts' expectations of $66.37 million. On average, analysts forecast that Similarweb Ltd. will post -0.24 earnings per share for the current year.

Institutional Investors Weigh In On Similarweb

Several large investors have recently added to or reduced their stakes in the stock. Migdal Insurance & Financial Holdings Ltd. raised its holdings in Similarweb by 61.3% during the 1st quarter. Migdal Insurance & Financial Holdings Ltd. now owns 2,762,557 shares of the company's stock valued at $22,846,000 after buying an additional 1,050,000 shares during the period. Phoenix Financial Ltd. raised its stake in shares of Similarweb by 2.5% in the first quarter. Phoenix Financial Ltd. now owns 2,585,985 shares of the company's stock valued at $21,386,000 after acquiring an additional 63,978 shares during the period. Menora Mivtachim Holdings LTD. lifted its holdings in shares of Similarweb by 33.2% in the 1st quarter. Menora Mivtachim Holdings LTD. now owns 2,246,470 shares of the company's stock worth $18,578,000 after acquiring an additional 560,000 shares during the last quarter. Jennison Associates LLC lifted its stake in shares of Similarweb by 2.9% during the 1st quarter. Jennison Associates LLC now owns 1,892,110 shares of the company's stock worth $15,648,000 after acquiring an additional 53,055 shares during the last quarter. Finally, Schonfeld Strategic Advisors LLC purchased a new stake in shares of Similarweb during the fourth quarter valued at $22,536,000. 57.59% of the stock is 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.