Similarweb Ltd. (NYSE:SMWB) Short Interest Update

Similarweb Ltd. (NYSE:SMWB) saw a significant growth in short interest in August. As of August 31st, there was short interest totaling 640,766 shares, a growth of 59.2% from the August 15th total of 402,389 shares. Based on an average daily volume of 827,895 shares, the short-interest ratio is presently 0.8 days. Approximately 1.9% of the shares of the stock are sold short.

Wall Street Analysts Forecast Growth

SMWB has been the subject of a number of recent analyst reports. Oppenheimer boosted their target price on shares of Similarweb from $7.00 to $8.50 and gave the company an “outperform” rating in a report on Wednesday, August 5th. Wall Street Zen downgraded shares of Similarweb from a “strong-buy” rating to a “buy” rating in a research report on Saturday, September 12th. Citigroup raised their price target 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. Weiss Ratings restated a “sell (e+)” rating on shares of Similarweb in a research note on Wednesday, August 12th. Finally, Needham & Company LLC raised Similarweb from a “hold” rating to a “buy” rating and set a $11.00 price target for the company in a research note on Wednesday. Five investment analysts have rated the stock with a Buy rating, four have issued a Hold rating and one has issued a Sell rating to the company’s stock. According to MarketBeat.com, Similarweb currently has a consensus rating of “Hold” and an average price target of $9.71.

Similarweb Price Performance

SMWB traded down $0.01 during midday trading on Thursday, hitting $8.33. 272,502 shares of the company’s stock traded hands, compared to its average volume of 880,065. Similarweb has a one year low of $2.22 and a one year high of $10.13. The stock’s fifty day simple moving average is $7.85 and its 200-day simple moving average is $5.09. The company has a market cap of $729.71 million, a PE ratio of -33.32 and a beta of 1.21.

Similarweb (NYSE:SMWB) last released 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 related news, CEO Or Offer sold 26,691 shares of the business’s stock in a transaction dated Tuesday, September 15th. The shares were sold at an average price of $8.53, for a total value of $227,674.23. Following the completion of the transaction, the chief executive officer owned 4,253,500 shares of the company’s stock, valued at approximately $36,282,355. The trade was a 0.62% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last three months, insiders sold 1,437,515 shares of company stock worth $12,534,797. Company insiders own 62.40% of the company’s stock.

Institutional Trading of Similarweb

Hedge funds have recently modified their holdings of the company. Wellington Management Group LLP boosted its position in shares of Similarweb by 22.2% during the 2nd 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 in the last quarter. S Squared Technology LLC grew its position in 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 acquiring an additional 88,489 shares during the period. Royce & Associates LP raised its stake in Similarweb by 8.7% during the fourth quarter. Royce & Associates LP now owns 537,406 shares of the company’s stock worth $4,025,000 after acquiring an additional 43,078 shares in the last quarter. UBS Group AG raised its stake in Similarweb by 71.4% during the fourth quarter. UBS Group AG now owns 536,549 shares of the company’s stock worth $4,019,000 after acquiring an additional 223,562 shares in the last quarter. Finally, Renaissance Technologies LLC lifted its holdings in shares of Similarweb by 104.6% during the first quarter. Renaissance Technologies LLC now owns 739,673 shares of the company’s stock valued at $1,931,000 after acquiring an additional 378,200 shares during the period. Institutional investors own 57.59% of the company’s stock.

Similarweb Company Profile

Similarweb Ltd. is a digital intelligence company that provides data and analytics about online activity. Its platform helps organizations analyze website and mobile application performance, understand audience behavior, evaluate competitors, and identify trends across digital markets.

The company’s products support a range of business functions, including marketing, sales, market research, search engine optimization, investor research and business development. Similarweb combines data from multiple sources to provide insights into web traffic, mobile app usage, customer engagement, acquisition channels and industry positioning.

Founded in 2007, Similarweb serves businesses, agencies, financial institutions and other organizations in markets around the world.