Similarweb (NYSE:SMWB) Upgraded by Wall Street Zen to “Strong-Buy” Rating

Wall Street Zen upgraded shares of Similarweb (NYSE:SMWB) from a buy rating to a strong-buy rating in a research note released on Sunday morning.

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

Similarweb Price Performance

Shares of SMWB opened at $8.20 on Friday. Similarweb has a 1-year low of $2.22 and a 1-year high of $10.75. The stock has a market cap of $718.32 million, a price-to-earnings ratio of -32.80 and a beta of 1.13. The firm has a 50 day simple moving average of $6.75 and a 200-day simple moving average of $4.46.

Similarweb (NYSE:SMWB) last posted its earnings results on Wednesday, August 12th. The company reported $0.06 earnings per share (EPS) for the quarter. The firm had revenue of $77.19 million for the quarter. Similarweb had a negative return on equity of 19.81% and a negative net margin of 7.37%. On average, equities analysts expect that Similarweb will post -0.08 earnings per share for the current fiscal year.

Insider Buying and Selling

In related news, CEO Or Offer sold 574,605 shares of the stock in a transaction dated Thursday, August 13th. The stock was sold at an average price of $8.80, for a total transaction of $5,056,524.00. Following the transaction, the chief executive officer directly owned 4,598,291 shares in the company, valued at approximately $40,464,960.80. This represents a 11.11% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently modified their holdings of SMWB. Larson Financial Group LLC acquired a new position in shares of Similarweb during the 3rd quarter valued at $25,000. New York State Common Retirement Fund raised its position in Similarweb by 0.4% in the fourth quarter. New York State Common Retirement Fund now owns 852,915 shares of the company’s stock valued at $6,388,000 after purchasing an additional 3,170 shares during the period. PDT Partners LLC lifted its stake in shares of Similarweb by 3.9% during the second quarter. PDT Partners LLC now owns 98,388 shares of the company’s stock worth $771,000 after purchasing an additional 3,717 shares in the last quarter. Lazard Asset Management LLC lifted its stake in shares of Similarweb by 31.9% during the third quarter. Lazard Asset Management LLC now owns 19,761 shares of the company’s stock worth $184,000 after purchasing an additional 4,777 shares in the last quarter. Finally, Legal & General Group Plc boosted its holdings in Similarweb by 13.7% in the 3rd quarter. Legal & General Group Plc now owns 43,374 shares of the company’s stock worth $403,000 after acquiring an additional 5,235 shares during the period. Institutional investors and hedge funds own 57.59% of the company’s stock.

Similarweb Company Profile

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.