Similarweb (NYSE:SMWB) Upgraded by Wall Street Zen to Strong-Buy Rating

Key Points

• Wall Street Zen upgraded Similarweb to “strong buy” from “buy,” while other analysts also raised price targets. However, the broader consensus remains “Hold,” with a $10.14 average target.
• Similarweb reported quarterly EPS of $0.06 on revenue of $77.19 million, but remains unprofitable, with a negative net margin of 7.37%; analysts expect a full-year loss of $0.08 per share.
• The stock opened at $8.20, up substantially from its one-year low of $2.22, while CEO Or Offer sold 574,605 shares for approximately $5.1 million. Insiders own 62.40% of the company, and institutional investors own 57.59%.

Similarweb (NYSE:SMWB - Get Free Report) was upgraded by investment analysts at Wall Street Zen from a "buy" rating to a "strong-buy" rating in a note issued to investors on Sunday.

A number of other equities analysts have also recently issued reports on the stock. Weiss Ratings reiterated a "sell (e+)" rating on shares of Similarweb in a research report on Wednesday, August 12th. Citigroup boosted their target price on shares of Similarweb from $7.00 to $9.00 and gave the stock a "neutral" rating in a research note on Thursday, August 13th. Oppenheimer upped their price target on shares of Similarweb from $7.00 to $8.50 and gave the stock an "outperform" rating in a report on Wednesday, August 5th. Northland Securities upgraded Similarweb from a "market perform" rating to an "outperform" rating and increased their price target for the company from $5.00 to $10.00 in a research note on Wednesday, August 12th. Finally, Barclays raised their price objective on Similarweb from $5.00 to $11.00 and gave the company an "overweight" rating in a report on Thursday, August 13th. Four equities research analysts have rated the stock with a Buy rating, five have assigned a Hold rating and one has issued a Sell rating to the company's stock. Based on data from MarketBeat.com, the stock currently has an average rating of "Hold" and a consensus price target of $10.14.

Similarweb Price Performance

Similarweb stock opened at $8.20 on Friday. Similarweb has a one year low of $2.22 and a one year high of $10.75. The stock's fifty day moving average price is $6.75 and its two-hundred day moving average price is $4.46. The firm has a market cap of $718.32 million, a PE ratio of -32.80 and a beta of 1.14.

Similarweb (NYSE:SMWB - Get Free Report) last issued its quarterly earnings results on Wednesday, August 12th. The company reported $0.06 earnings per share (EPS) for the quarter. The company had revenue of $77.19 million for the quarter. Similarweb had a negative return on equity of 19.81% and a negative net margin of 7.37%. Sell-side analysts expect that Similarweb will post -0.08 earnings per share for the current fiscal year.

Insiders Place Their Bets

In related news, CEO Or Offer sold 574,605 shares of the business's stock in a transaction on Thursday, August 13th. The shares were sold at an average price of $8.80, for a total value of $5,056,524.00. Following the transaction, the chief executive officer owned 4,598,291 shares in the company, valued at $40,464,960.80. The trade was a 11.11% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. 62.40% of the stock is owned by corporate insiders.

Institutional Trading of Similarweb

A number of large investors have recently bought and sold shares of SMWB. Larson Financial Group LLC acquired a new position in shares of Similarweb in the 3rd quarter valued at about $25,000. New York State Common Retirement Fund grew its stake in Similarweb by 0.4% during the fourth quarter. New York State Common Retirement Fund now owns 852,915 shares of the company's stock worth $6,388,000 after purchasing an additional 3,170 shares during the period. PDT Partners LLC grew its stake in Similarweb by 3.9% during the second quarter. PDT Partners LLC now owns 98,388 shares of the company's stock worth $771,000 after purchasing an additional 3,717 shares during the period. Lazard Asset Management LLC increased its holdings in Similarweb by 31.9% in the third quarter. Lazard Asset Management LLC now owns 19,761 shares of the company's stock worth $184,000 after purchasing an additional 4,777 shares in the last quarter. Finally, Legal & General Group Plc increased its holdings in Similarweb by 13.7% in the third quarter. Legal & General Group Plc now owns 43,374 shares of the company's stock worth $403,000 after purchasing an additional 5,235 shares in the last quarter. 57.59% of the stock is currently owned by institutional investors and hedge funds.

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.

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