Similarweb (NYSE:SMWB) Trading 6.7% Higher – Here’s What Happened

Similarweb Ltd. (NYSE:SMWB) shares traded up 6.7% during trading on Monday . The company traded as high as $7.14 and last traded at $7.1050. Approximately 676,920 shares changed hands during mid-day trading, a decline of 22% from the average session volume of 866,584 shares. The stock had previously closed at $6.66.

Analysts Set New Price Targets

Several research firms have weighed in on SMWB. Oppenheimer lifted their target price on Similarweb from $4.00 to $7.00 and gave the stock an “outperform” rating in a report on Thursday, June 18th. Citigroup increased their price target on Similarweb from $3.00 to $7.00 and gave the stock a “neutral” rating in a report on Thursday, July 9th. Finally, Barclays dropped their price target on Similarweb from $7.00 to $5.00 and set an “overweight” rating on the stock in a research report on Monday, April 20th. Three equities research analysts have rated the stock with a Buy rating, seven have assigned a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat, Similarweb presently has an average rating of “Hold” and an average target price of $8.07.

Similarweb Price Performance

The company’s 50-day moving average price is $4.71 and its 200-day moving average price is $4.26. The company has a market cap of $581.23 million, a P/E ratio of -18.96 and a beta of 1.17.

Similarweb (NYSE:SMWB) last released its earnings results on Wednesday, May 13th. The company reported $0.01 earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of $0.01. Similarweb had a negative return on equity of 48.57% and a negative net margin of 10.38%.The firm had revenue of $73.88 million during the quarter, compared to analysts’ expectations of $73.04 million. On average, equities research analysts predict that Similarweb Ltd. will post -0.08 EPS for the current year.

Insider Transactions at Similarweb

In other news, Director Barak Eilam bought 50,000 shares of the business’s stock in a transaction on Thursday, May 21st. The shares were purchased at an average price of $3.86 per share, for a total transaction of $193,000.00. Following the purchase, the director owned 101,315 shares of the company’s stock, valued at approximately $391,075.90. The trade was a 97.44% increase in their position. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO Or Offer purchased 53,000 shares of Similarweb stock in a transaction on Tuesday, May 19th. The shares were purchased at an average cost of $3.58 per share, with a total value of $189,740.00. Following the transaction, the chief executive officer owned 4,694,396 shares in the company, valued at approximately $16,805,937.68. The trade was a 1.14% increase in their ownership of the stock. The disclosure for this purchase is available in the SEC filing. Insiders purchased 271,105 shares of company stock valued at $1,020,726 over the last three months.

Institutional Inflows and Outflows

Large investors have recently bought and sold shares of the stock. Militia Capital Management LLC bought a new stake in shares of Similarweb during the 1st quarter worth approximately $616,000. Lavelle Capital LP bought a new position in shares of Similarweb in the first quarter valued at $529,000. Bank of America Corp DE grew its stake in shares of Similarweb by 475.3% in the first quarter. Bank of America Corp DE now owns 63,985 shares of the company’s stock valued at $167,000 after buying an additional 52,863 shares in the last quarter. Renaissance Technologies LLC increased its holdings 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 buying an additional 378,200 shares during the last quarter. Finally, Sphera Management Technology Funds Ltd increased its holdings in Similarweb by 3.7% during the fourth quarter. Sphera Management Technology Funds Ltd now owns 480,000 shares of the company’s stock worth $3,595,000 after buying an additional 17,122 shares during the last quarter. 57.59% of the stock is owned by institutional investors and hedge funds.

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.