Similarweb (NYSE:SMWB) Upgraded to Outperform at Northland Securities

Key Points

• Northland Securities upgraded Similarweb from “market perform” to “outperform” and set a $10 price target, implying 39.68% upside from the stock’s $7.16 opening price.
• Analyst sentiment remains mixed: Similarweb has a consensus “Hold” rating and an average price target of $9.00, based on four Buy, six Hold, and one Sell rating.
• Insiders have been buying shares, with the CEO and a director each purchasing 50,000 shares; insiders bought 271,105 shares worth about $1.02 million over the past three months.

Similarweb (NYSE:SMWB - Get Free Report) was upgraded by research analysts at Northland Securities from a "market perform" rating to an "outperform" rating in a research report issued to clients and investors on Wednesday,Finviz reports. The brokerage presently has a $10.00 price objective on the stock. Northland Securities' target price suggests a potential upside of 39.68% from the stock's current price.

Other research analysts also recently issued reports about the stock. Citigroup raised their price objective on shares of Similarweb from $3.00 to $7.00 and gave the stock a "neutral" rating in a research report on Thursday, July 9th. Oppenheimer upped their price objective on Similarweb from $7.00 to $8.50 and gave the company an "outperform" rating in a research note on Wednesday, August 5th. Finally, Barclays lowered their target price on Similarweb from $7.00 to $5.00 and set an "overweight" rating on the stock in a research note on Monday, April 20th. Four investment analysts have rated the stock with a Buy rating, six have assigned a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of "Hold" and a consensus price target of $9.00.

Similarweb Stock Down 3.5%

NYSE:SMWB opened at $7.16 on Wednesday. The company has a market capitalization of $627.13 million, a PE ratio of -20.45 and a beta of 1.14. Similarweb has a 52-week low of $2.22 and a 52-week high of $10.75. The stock's 50 day moving average price is $6.06 and its 200 day moving average price is $4.29.

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

Insider Activity

In other Similarweb news, CEO Or Offer purchased 50,000 shares of Similarweb stock in a transaction dated Monday, June 1st. The stock was acquired at an average cost of $4.15 per share, with a total value of $207,500.00. Following the acquisition, the chief executive officer directly owned 4,744,396 shares of the company's stock, valued at $19,689,243.40. This represents a 1.07% increase in their ownership of the stock. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Barak Eilam purchased 50,000 shares of the firm's stock in a transaction that occurred on Thursday, May 21st. The stock was acquired at an average price of $3.86 per share, for a total transaction of $193,000.00. Following the completion of the purchase, the director owned 101,315 shares of the company's stock, valued at approximately $391,075.90. This represents a 97.44% increase in their ownership of the stock. The SEC filing for this purchase provides additional information. Insiders have bought 271,105 shares of company stock worth $1,020,726 in the last three months.

Institutional Inflows and Outflows

Several large investors have recently bought and sold shares of the business. Wellington Management Group LLP boosted its position in shares of Similarweb by 163.6% in the 3rd quarter. Wellington Management Group LLP now owns 2,457,805 shares of the company's stock worth $22,858,000 after buying an additional 1,525,230 shares in the last quarter. Phoenix Financial Ltd. increased its holdings in Similarweb by 43.2% during the 4th quarter. Phoenix Financial Ltd. now owns 4,285,786 shares of the company's stock valued at $32,101,000 after acquiring an additional 1,292,700 shares in the last quarter. Renaissance Technologies LLC raised its position in Similarweb by 104.6% during the first quarter. Renaissance Technologies LLC now owns 739,673 shares of the company's stock worth $1,931,000 after acquiring an additional 378,200 shares during the last quarter. UBS Group AG raised its position in Similarweb by 701.6% during the third quarter. UBS Group AG now owns 312,987 shares of the company's stock worth $2,911,000 after acquiring an additional 273,943 shares during the last quarter. Finally, Militia Capital Management LLC purchased a new stake in shares of Similarweb in the first quarter valued at about $616,000. Hedge funds and other institutional investors own 57.59% of the company's stock.

About Similarweb

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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