Similarweb (NYSE:SMWB) Stock Rating Raised to Strong-Buy at Wall Street Zen

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

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

Similarweb Stock Down 2.2%

Similarweb stock opened at $7.98 on Friday. The firm has a market cap of $698.96 million, a price-to-earnings ratio of -31.92 and a beta of 1.30. Similarweb has a 52 week low of $2.22 and a 52 week high of $9.52. The business’s 50-day moving average price is $8.17 and its 200 day moving average price is $5.52.

Similarweb (NYSE:SMWB) last announced its quarterly 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.

Insider Buying and Selling

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 transaction of $878,967.00. Following the completion of the transaction, the chief executive officer directly owned 3,930,481 shares in the company, valued at approximately $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 accessible through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last ninety days, insiders have sold 1,760,534 shares of company stock valued at $15,163,145. 62.40% of the stock is currently owned by insiders.

Institutional Trading of Similarweb

Several institutional investors have recently modified their holdings of the stock. Wellington Management Group LLP raised 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 valued at $22,219,000 after acquiring an additional 657,928 shares during the last quarter. S Squared Technology LLC increased its holdings in shares of Similarweb by 12.9% in the fourth quarter. S Squared Technology LLC now owns 775,161 shares of the company’s stock valued at $5,806,000 after purchasing an additional 88,489 shares during the last quarter. Renaissance Technologies LLC lifted its position 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 in the last quarter. Persistent Asset Partners Ltd purchased a new position in Similarweb during the fourth quarter worth approximately $1,348,000. Finally, Militia Capital Management LLC acquired a new position in Similarweb during the first quarter worth $616,000. Institutional investors and hedge funds own 57.59% of the company’s stock.

About Similarweb

Similarweb Ltd. (NYSE: SMWB) provides digital intelligence and market research solutions that help businesses understand online activity and competitive dynamics. Its platform analyzes digital behavior across websites and mobile applications, offering insights into audience interests, traffic sources, engagement, user journeys and industry trends.

The company serves customers across a range of industries, including technology, retail, financial services, media and advertising. Its products support marketing, sales, business development, investor research and strategy teams by helping them identify market opportunities, evaluate competitors, assess customer demand and monitor digital performance.

Similarweb was founded in 2007 by Or Offer and Nir Cohen and is headquartered in Israel, with operations and customers serving markets internationally.