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

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

Several other research firms have also commented on SMWB. Weiss Ratings reissued a “sell (e+)” rating on shares of Similarweb in a report on Wednesday, August 12th. Northland Securities raised Similarweb from a “market perform” rating to an “outperform” rating and lifted their price target for the stock from $5.00 to $10.00 in a report on Wednesday, August 12th. Barclays upped their price objective on Similarweb from $5.00 to $11.00 and gave the stock an “overweight” rating in a research report on Thursday, August 13th. Citigroup increased their price objective on Similarweb from $7.00 to $9.00 and gave the company a “neutral” rating in a report on Thursday, August 13th. Finally, Needham & Company LLC upgraded Similarweb from a “hold” rating to a “buy” rating and set a $11.00 price objective on the stock in a report on Wednesday, September 16th. Five equities research analysts have rated the stock with a Buy rating, five have issued a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat, the company currently has a consensus rating of “Hold” and an average price target of $9.71.

Similarweb Trading Up 0.6%

Shares of SMWB opened at $8.76 on Monday. Similarweb has a twelve month low of $2.22 and a twelve month high of $9.50. The firm’s fifty day simple moving average is $8.52 and its 200-day simple moving average is $5.57. The firm has a market capitalization of $766.94 million, a price-to-earnings ratio of -35.02 and a beta of 1.36.

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

Insiders Place Their Bets

In other Similarweb news, CEO Or Offer sold 114,300 shares of the company’s stock in a transaction on Thursday, September 24th. The shares were sold at an average price of $7.69, for a total value of $878,967.00. Following the completion of the transaction, the chief executive officer owned 3,930,481 shares in the company, valued at $30,225,398.89. This represents a 2.83% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold 1,760,534 shares of company stock valued at $15,163,145 over the last three months.

Institutional Trading of Similarweb

Hedge funds and other institutional investors have recently made changes to their positions in the company. Integrated Wealth Concepts LLC purchased a new stake in shares of Similarweb in the 2nd quarter valued at about $92,000. Bank of America Corp DE boosted its position in shares of Similarweb by 475.3% in the 1st quarter. Bank of America Corp DE now owns 63,985 shares of the company’s stock valued at $167,000 after purchasing an additional 52,863 shares during the period. 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 buying an additional 29,712 shares during the last quarter. Lavelle Capital LP purchased a new position in Similarweb during the 1st quarter worth approximately $529,000. Finally, Militia Capital Management LLC purchased a new position in Similarweb during the 1st quarter worth approximately $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.