Short Interest in Similarweb Ltd. (NYSE:SMWB) Drops By 37.8%

Similarweb Ltd. (NYSE:SMWB) was the target of a significant decline in short interest in May. As of May 29th, there was short interest totaling 444,701 shares, a decline of 37.8% from the May 14th total of 714,388 shares. Currently, 0.5% of the company’s shares are short sold. Based on an average daily trading volume, of 867,303 shares, the days-to-cover ratio is presently 0.5 days.

Similarweb Stock Performance

Shares of NYSE:SMWB traded down $0.18 during mid-day trading on Tuesday, hitting $5.07. 1,326,411 shares of the company traded hands, compared to its average volume of 850,499. The firm has a market cap of $443.78 million, a P/E ratio of -14.47 and a beta of 1.25. Similarweb has a 52-week low of $2.22 and a 52-week high of $10.75. The firm’s 50 day simple moving average is $3.40 and its 200 day simple moving average is $4.48.

Similarweb (NYSE:SMWB) last announced its earnings results on Wednesday, May 13th. The company reported $0.01 EPS for the quarter, meeting the consensus estimate of $0.01. The business had revenue of $73.88 million for the quarter, compared to the consensus estimate of $73.04 million. Similarweb had a negative return on equity of 48.57% and a negative net margin of 10.38%. Equities research analysts expect that Similarweb will post -0.08 EPS for the current fiscal year.

Insider Activity

In other news, CEO Or Offer purchased 50,000 shares of the stock in a transaction dated Monday, June 1st. The stock was acquired at an average cost of $4.15 per share, for a total transaction of $207,500.00. Following the completion of the acquisition, the chief executive officer directly owned 4,744,396 shares in the company, valued at $19,689,243.40. This represents a 1.07% increase in their position. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Tamar Rapaport-Dagim purchased 40,000 shares of the stock in a transaction dated Monday, May 18th. The shares were purchased at an average price of $3.22 per share, with a total value of $128,800.00. Following the completion of the acquisition, the director owned 63,584 shares of the company’s stock, valued at approximately $204,740.48. This represents a 169.61% increase in their ownership of the stock. Additional details regarding this purchase are available in the official SEC disclosure. In the last ninety days, insiders have acquired 271,105 shares of company stock valued at $1,020,726.

Institutional Investors Weigh In On Similarweb

Several hedge funds have recently modified their holdings of SMWB. Royce & Associates LP acquired a new position in Similarweb during the 3rd quarter worth $4,597,000. First Eagle Investment Management LLC raised its stake in shares of Similarweb by 221.5% in the 3rd quarter. First Eagle Investment Management LLC now owns 545,001 shares of the company’s stock valued at $5,069,000 after purchasing an additional 375,496 shares in the last quarter. Phoenix Financial Ltd. lifted its position in shares of Similarweb by 43.2% during the fourth quarter. Phoenix Financial Ltd. now owns 4,285,786 shares of the company’s stock worth $32,101,000 after purchasing an additional 1,292,700 shares during the last quarter. Penn Capital Management Company LLC grew its stake in Similarweb by 299.4% in the third quarter. Penn Capital Management Company LLC now owns 1,646,094 shares of the company’s stock worth $15,321,000 after purchasing an additional 1,233,928 shares in the last quarter. Finally, Portolan Capital Management LLC increased its holdings in Similarweb by 62.0% in the third quarter. Portolan Capital Management LLC now owns 1,179,000 shares of the company’s stock valued at $10,965,000 after buying an additional 451,408 shares during the last quarter. 57.59% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of equities research analysts have recently commented on the stock. Citigroup downgraded shares of Similarweb from a “buy” rating to a “neutral” rating and lowered their price target for the stock from $8.50 to $3.00 in a report on Friday, April 10th. Oppenheimer cut their price objective on shares of Similarweb from $7.00 to $4.00 and set an “outperform” rating on the stock in a report on Thursday, February 19th. Wall Street Zen cut Similarweb from a “buy” rating to a “hold” rating in a report on Saturday, February 21st. Barclays decreased their target price on Similarweb from $7.00 to $5.00 and set an “overweight” rating for the company in a report on Monday, April 20th. Finally, Needham & Company LLC cut Similarweb from a “buy” rating to a “hold” rating in a report on Wednesday, February 18th. Three research analysts have rated the stock with a Buy rating, seven have assigned a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of “Hold” and an average target price of $7.07.

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.