Similarweb (NYSE:SMWB) Downgraded to “Buy” Rating by Wall Street Zen

Wall Street Zen lowered shares of Similarweb (NYSE:SMWB) from a strong-buy rating to a buy rating in a research report released on Saturday,Wall Street Zen reports.

A number of other research firms have also recently issued reports on SMWB. Northland Securities upgraded shares of Similarweb from a “market perform” rating to an “outperform” rating and upped their price objective for the stock from $5.00 to $10.00 in a research report on Wednesday, August 12th. Barclays raised their target price on shares of Similarweb from $5.00 to $11.00 and gave the company an “overweight” rating in a research report on Thursday, August 13th. Oppenheimer boosted their target price on shares of Similarweb from $7.00 to $8.50 and gave the stock an “outperform” rating in a research note on Wednesday, August 5th. Citigroup upped their price target on shares of Similarweb from $7.00 to $9.00 and gave the stock a “neutral” rating in a report on Thursday, August 13th. Finally, Weiss Ratings reiterated a “sell (e+)” rating on shares of Similarweb in a research note on Wednesday, August 12th. Four investment analysts have rated the stock with a Buy rating, five have given a Hold rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat, Similarweb currently has an average rating of “Hold” and a consensus target price of $10.14.

Similarweb Stock Down 0.4%

Similarweb stock opened at $8.07 on Friday. Similarweb has a 12-month low of $2.22 and a 12-month high of $10.35. The business’s 50-day moving average price is $7.72 and its two-hundred day moving average price is $4.95. The stock has a market cap of $706.67 million, a PE ratio of -32.27 and a beta of 1.21.

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

Insider Transactions at Similarweb

In related news, CEO Or Offer sold 574,605 shares of the firm’s stock in a transaction that occurred on Thursday, August 13th. The shares were sold at an average price of $8.80, for a total value of $5,056,524.00. Following the completion of the transaction, the chief executive officer owned 4,598,291 shares in the company, valued at $40,464,960.80. This trade represents a 11.11% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. In the last three months, insiders have sold 1,239,724 shares of company stock valued at $10,903,255. 62.40% of the stock is owned by company insiders.

Hedge Funds Weigh In On Similarweb

Several institutional investors and hedge funds have recently added to or reduced their stakes in the business. Wellington Management Group LLP lifted its holdings in shares of Similarweb by 22.2% during the second quarter. Wellington Management Group LLP now owns 3,624,685 shares of the company’s stock worth $22,219,000 after purchasing an additional 657,928 shares during the period. Nuveen LLC increased its holdings in Similarweb by 2.5% in the fourth quarter. Nuveen LLC now owns 1,520,398 shares of the company’s stock valued at $11,388,000 after purchasing an additional 37,457 shares during the period. Connor Clark & Lunn Investment Management Ltd. raised its position in Similarweb by 2.6% during the 3rd quarter. Connor Clark & Lunn Investment Management Ltd. now owns 944,552 shares of the company’s stock worth $8,784,000 after purchasing an additional 23,881 shares during the last quarter. New York State Common Retirement Fund raised its position in Similarweb by 0.4% during the 4th quarter. New York State Common Retirement Fund now owns 852,915 shares of the company’s stock worth $6,388,000 after purchasing an additional 3,170 shares during the last quarter. Finally, S Squared Technology LLC lifted its holdings in Similarweb by 12.9% during the 4th quarter. S Squared Technology LLC now owns 775,161 shares of the company’s stock worth $5,806,000 after buying an additional 88,489 shares during the period. 57.59% of the stock is currently 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.