Similarweb (NYSE:SMWB) Stock Lifted to Strong-Buy by Wall Street Zen

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

Several other research firms have also recently commented on SMWB. Citigroup lifted their target price on Similarweb from $7.00 to $9.00 and gave the company a “neutral” rating in a research note on Thursday, August 13th. Needham & Company LLC raised Similarweb from a “hold” rating to a “buy” rating and set a $11.00 price target on the stock in a research note on Wednesday, September 16th. Northland Securities raised Similarweb from a “market perform” rating to an “outperform” rating and upped their price target for the company from $5.00 to $10.00 in a research note on Wednesday, August 12th. Oppenheimer raised their price target on Similarweb from $7.00 to $8.50 and gave the company an “outperform” rating in a report on Wednesday, August 5th. Finally, Weiss Ratings reiterated a “sell (e+)” rating on shares of Similarweb in a research report on Wednesday, August 12th. One investment analyst has rated the stock with a Strong Buy rating, five have assigned a Buy rating, four have assigned a Hold rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $9.71.

Similarweb Stock Down 0.3%

Shares of Similarweb stock opened at $8.79 on Friday. Similarweb has a 12-month low of $2.22 and a 12-month high of $9.50. The company has a 50-day simple moving average of $8.47 and a 200 day simple moving average of $6.15. The stock has a market capitalization of $770.00 million, a P/E ratio of -35.16 and a beta of 1.30.

Similarweb (NYSE:SMWB) last announced its 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 business had revenue of $77.19 million for the quarter.

Insider Buying and Selling

In other Similarweb news, CEO Or Offer sold 114,300 shares of the stock in a transaction dated Thursday, September 24th. The stock was sold at an average price of $7.69, for a total value of $878,967.00. Following the transaction, the chief executive officer owned 3,930,481 shares of the company’s stock, 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 filing with the SEC, which can be accessed through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold a total of 1,760,534 shares of company stock valued at $15,163,145 in the last ninety days. Corporate insiders own 62.40% of the company’s stock.

Institutional Investors Weigh In On Similarweb

Several large investors have recently bought and sold shares of SMWB. Lavelle Capital LP acquired a new position in Similarweb during the 1st quarter worth approximately $529,000. Renaissance Technologies LLC increased its stake in shares of 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 purchasing an additional 378,200 shares during the period. Wellington Management Group LLP grew its stake in shares of Similarweb by 22.2% in 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 in the last quarter. Militia Capital Management LLC bought a new position in shares of Similarweb during the first quarter worth approximately $616,000. Finally, Bank of America Corp DE grew its holdings in shares of Similarweb by 475.3% during the 1st quarter. Bank of America Corp DE now owns 63,985 shares of the company’s stock worth $167,000 after purchasing an additional 52,863 shares in the last quarter. Institutional investors own 57.59% of the company’s stock.

About Similarweb

Similarweb Ltd. (NYSE: SMWB) provides digital data and market intelligence through a software-as-a-service platform. The company collects and analyzes data on website and mobile application activity to help organizations understand online audiences, markets, competitors and customer behavior.

Its products support digital marketing, search engine optimization, sales and business development, market research, investor research, e-commerce and shopper intelligence. Customers can use Similarweb’s platform to evaluate traffic sources, audience engagement, keyword performance, industry trends and competitive positioning across digital channels.

Similarweb serves enterprises, advertising and marketing agencies, financial institutions, publishers and other organizations in markets around the world.