Similarweb (NYSE:SMWB) Shares Down 5.7% – Should You Sell?

Shares of Similarweb Ltd. (NYSE:SMWB) dropped 5.7% during mid-day trading on Tuesday . The stock traded as low as $8.33 and last traded at $8.3350. Approximately 42,596 shares traded hands during trading, a decline of 95% from the average daily volume of 889,450 shares. The stock had previously closed at $8.84.

Wall Street Analyst Weigh In

A number of research analysts recently weighed in on the company. Barclays raised their price objective on Similarweb from $5.00 to $11.00 and gave the company an “overweight” rating in a research report on Thursday, August 13th. Oppenheimer lifted their price target on Similarweb from $7.00 to $8.50 and gave the stock an “outperform” rating in a research report on Wednesday, August 5th. Northland Securities raised shares of Similarweb from a “market perform” rating to an “outperform” rating and increased their price objective for the company from $5.00 to $10.00 in a research report on Wednesday, August 12th. Citigroup lifted their target price 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 report on Wednesday, August 12th. Four equities research 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. Based on data from MarketBeat, Similarweb has an average rating of “Hold” and a consensus price target of $10.14.

Similarweb Trading Down 4.4%

The firm has a market cap of $702.11 million, a P/E ratio of -32.06 and a beta of 1.21. The company’s 50 day simple moving average is $7.64 and its 200-day simple moving average is $4.89.

Similarweb (NYSE:SMWB) last posted its quarterly 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 company had revenue of $77.19 million for the quarter.

Insider Activity

In other news, CEO Or Offer sold 383,127 shares of Similarweb stock in a transaction dated Wednesday, August 26th. The stock was sold at an average price of $9.00, for a total value of $3,448,143.00. Following the sale, the chief executive officer directly owned 4,598,291 shares of the company’s stock, valued at approximately $41,384,619. The trade was a 7.69% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Insiders sold 1,092,724 shares of company stock valued at $9,702,046 over the last quarter. Insiders own 62.40% of the company’s stock.

Hedge Funds Weigh In On Similarweb

Several institutional investors have recently added to or reduced their stakes in SMWB. Jump Financial LLC purchased a new stake in shares of Similarweb during the 2nd quarter worth approximately $1,457,000. Federated Hermes Inc. increased its position in Similarweb by 52.4% in the second quarter. Federated Hermes Inc. now owns 48,000 shares of the company’s stock worth $376,000 after purchasing an additional 16,500 shares during the last quarter. Qube Research & Technologies Ltd purchased a new stake in Similarweb during the second quarter valued at $878,000. Nebula Research & Development LLC purchased a new stake in Similarweb during the second quarter valued at $146,000. Finally, California State Teachers Retirement System lifted its position in Similarweb by 29.7% during the second quarter. California State Teachers Retirement System now owns 49,654 shares of the company’s stock valued at $389,000 after purchasing an additional 11,356 shares during the last quarter. Hedge funds and other institutional investors own 57.59% of the company’s stock.

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.