Similarweb (NYSE:SMWB) Stock Gets Downgrade from Zacks Research

Similarweb (NYSE:SMWB) was downgraded by equities researchers at Zacks Research from a “strong-buy” rating to a “hold” rating in a report issued on Monday, Zacks reports.

A number of other brokerages have also issued reports on SMWB. Weiss Ratings reissued a “sell (e+)” rating on shares of Similarweb in a report on Wednesday, August 12th. Needham & Company LLC raised shares of Similarweb from a “hold” rating to a “buy” rating and set a $11.00 price target for the company in a research note on Wednesday, September 16th. Oppenheimer raised 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 raised shares of Similarweb from a “market perform” rating to an “outperform” rating and lifted their price target for the company from $5.00 to $10.00 in a research report on Wednesday, August 12th. Finally, Barclays upped 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. Five analysts have rated the stock with a Buy rating, five have issued a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat, the stock has a consensus rating of “Hold” and an average target price of $9.71.

Similarweb Stock Performance

NYSE SMWB opened at $8.76 on Monday. The stock’s fifty day moving average is $8.52 and its two-hundred day moving average is $5.57. The firm has a market capitalization of $766.94 million, a P/E ratio of -35.02 and a beta of 1.36. Similarweb has a fifty-two week low of $2.22 and a fifty-two week high of $9.50.

Similarweb (NYSE:SMWB) last issued its earnings results on Wednesday, August 12th. The company reported $0.06 earnings per share (EPS) for the quarter. Similarweb had a negative return on equity of 19.81% and a negative net margin of 7.37%. The company had revenue of $77.19 million during the quarter.

Insiders Place Their Bets

In related news, CEO Or Offer sold 114,300 shares of the company’s stock in a transaction that occurred on Thursday, September 24th. The shares were sold at an average price of $7.69, for a total transaction of $878,967.00. Following the sale, the chief executive officer directly owned 3,930,481 shares of the company’s stock, valued at $30,225,398.89. This represents a 2.83% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last quarter, insiders have sold 1,760,534 shares of company stock worth $15,163,145.

Hedge Funds Weigh In On Similarweb

Several institutional investors have recently modified their holdings of SMWB. Integrated Wealth Concepts LLC purchased a new position in Similarweb in the second quarter valued at $92,000. State of Wyoming grew its stake in Similarweb by 33.6% during the 3rd quarter. State of Wyoming now owns 118,170 shares of the company’s stock worth $917,000 after purchasing an additional 29,712 shares in the last quarter. Bank of America Corp DE increased its holdings in Similarweb by 475.3% during the 1st quarter. Bank of America Corp DE now owns 63,985 shares of the company’s stock worth $167,000 after purchasing an additional 52,863 shares during the period. Lavelle Capital LP purchased a new stake in Similarweb during the 1st quarter worth about $529,000. Finally, Militia Capital Management LLC purchased a new stake in Similarweb during the 1st quarter worth about $572,000. Institutional investors and hedge funds own 57.59% of the company’s stock.

About Similarweb

Similarweb Ltd. (NYSE: SMWB) provides digital data and market intelligence through a software-as-a-service platform. The company collects and analyzes data on website and mobile application activity to help organizations understand online audiences, markets, competitors and customer behavior.

Its products support digital marketing, search engine optimization, sales and business development, market research, investor research, e-commerce and shopper intelligence. Customers can use Similarweb’s platform to evaluate traffic sources, audience engagement, keyword performance, industry trends and competitive positioning across digital channels.

Similarweb serves enterprises, advertising and marketing agencies, financial institutions, publishers and other organizations in markets around the world.