Similarweb (NYSE:SMWB) Upgraded at Northland Securities

Similarweb (NYSE:SMWB) was upgraded by equities 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 firm currently has a $10.00 target price on the stock. Northland Securities’ price objective would suggest a potential upside of 39.68% from the stock’s previous close.

Several other research firms have also recently issued reports on SMWB. Citigroup raised their price target on shares of Similarweb from $3.00 to $7.00 and gave the stock a “neutral” rating in a research note on Thursday, July 9th. Barclays reduced their price objective on shares of Similarweb from $7.00 to $5.00 and set an “overweight” rating on the stock in a research note on Monday, April 20th. Finally, Oppenheimer raised their target price on shares of Similarweb from $7.00 to $8.50 and gave the stock an “outperform” rating in a research report on Wednesday, August 5th. Four research analysts have rated the stock with a Buy rating, six have issued a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of “Hold” and an average target price of $9.00.

Similarweb Stock Performance

Similarweb stock opened at $7.16 on Wednesday. Similarweb has a fifty-two week low of $2.22 and a fifty-two week high of $10.75. The company has a market capitalization of $627.13 million, a price-to-earnings ratio of -20.45 and a beta of 1.14. The stock has a fifty day moving average of $6.06 and a two-hundred day moving average of $4.29.

Similarweb (NYSE:SMWB) last posted its quarterly earnings data on Wednesday, May 13th. The company reported $0.01 EPS for the quarter, meeting analysts’ consensus estimates of $0.01. The business had revenue of $73.88 million for the quarter, compared to analyst estimates of $73.04 million. Similarweb had a negative return on equity of 48.57% and a negative net margin of 10.38%. On average, analysts forecast that Similarweb will post -0.08 EPS for the current fiscal year.

Insider Activity at Similarweb

In related news, Director Harel Moshe Beit-On purchased 75,000 shares of the company’s stock in a transaction that occurred on Wednesday, May 20th. The stock was purchased at an average price of $3.89 per share, with a total value of $291,750.00. Following the completion of the transaction, the director owned 10,885,778 shares of the company’s stock, valued at approximately $42,345,676.42. This trade represents a 0.69% increase in their position. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Tamar Rapaport-Dagim purchased 40,000 shares of the business’s stock in a transaction on Monday, May 18th. The shares were bought at an average cost of $3.22 per share, for a total transaction of $128,800.00. Following the purchase, the director owned 63,584 shares of the company’s stock, valued at $204,740.48. This trade represents a 169.61% increase in their ownership of the stock. The SEC filing for this purchase provides additional information. Insiders acquired a total of 271,105 shares of company stock valued at $1,020,726 over the last three months.

Institutional Trading of Similarweb

Institutional investors and hedge funds have recently made changes to their positions in the company. Militia Capital Management LLC purchased a new position in shares of Similarweb in the 1st quarter worth $616,000. Lavelle Capital LP purchased a new stake in Similarweb during the first quarter valued at about $529,000. Bank of America Corp DE increased its stake in Similarweb by 475.3% during the first quarter. Bank of America Corp DE now owns 63,985 shares of the company’s stock worth $167,000 after acquiring an additional 52,863 shares during the last quarter. Renaissance Technologies LLC increased its stake 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. Finally, Sphera Management Technology Funds Ltd raised its holdings in shares of Similarweb by 3.7% in the 4th quarter. Sphera Management Technology Funds Ltd now owns 480,000 shares of the company’s stock worth $3,595,000 after purchasing an additional 17,122 shares during the period. 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.