Similarweb (NYSE:SMWB) Stock Rating Cut to Buy at Wall Street Zen

Wall Street Zen cut shares of Similarweb (NYSE:SMWB) from a strong-buy rating to a buy rating in a report issued on Sunday,Wall Street Zen reports.

Several other research firms also recently commented on SMWB. Northland Securities raised Similarweb from a “market perform” rating to an “outperform” rating and upped their price objective for the company from $5.00 to $10.00 in a research note on Wednesday, August 12th. Oppenheimer increased their price objective on Similarweb from $7.00 to $8.50 and gave the stock an “outperform” rating in a research report on Wednesday, August 5th. Zacks Research upgraded Similarweb from a “hold” rating to a “strong-buy” rating in a research note on Friday, October 2nd. Weiss Ratings reissued a “sell (e+)” rating on shares of Similarweb in a report on Wednesday, August 12th. Finally, Citigroup boosted their target price on Similarweb from $7.00 to $9.00 and gave the company a “neutral” rating in a report on Thursday, August 13th. One investment analyst has rated the stock with a Strong Buy rating, five have given a Buy rating, four have assigned a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $9.71.

Similarweb Trading Up 0.1%

SMWB stock opened at $9.06 on Friday. The company has a market capitalization of $793.48 million, a P/E ratio of -36.23 and a beta of 1.30. The business has a 50 day simple moving average of $8.29 and a 200-day simple moving average of $5.74. Similarweb has a twelve month low of $2.22 and a twelve month high of $9.50.

Similarweb (NYSE:SMWB) last posted its quarterly earnings data on Wednesday, August 12th. The company reported $0.06 EPS for the quarter. Similarweb had a negative net margin of 7.37% and a negative return on equity of 19.81%. The company had revenue of $77.19 million for the quarter.

Insider Activity at Similarweb

In other news, CEO Or Offer sold 114,300 shares of Similarweb stock in a transaction dated Thursday, September 24th. The shares were sold at an average price of $7.69, for a total value of $878,967.00. Following the sale, the chief executive officer owned 3,930,481 shares of the company’s stock, valued at $30,225,398.89. The trade was a 2.83% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last ninety days, insiders have sold 1,760,534 shares of company stock valued at $15,163,145.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently made changes to their positions in the company. Wellington Management Group LLP boosted its holdings in Similarweb by 22.2% in the 2nd quarter. Wellington Management Group LLP now owns 3,624,685 shares of the company’s stock valued at $22,219,000 after purchasing an additional 657,928 shares in the last quarter. Renaissance Technologies LLC increased its position in Similarweb by 104.6% during the 1st 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. Militia Capital Management LLC purchased a new position in shares of Similarweb during the 1st quarter worth approximately $616,000. Lavelle Capital LP purchased a new position in shares of Similarweb during the 1st quarter worth approximately $529,000. Finally, Persistent Asset Partners Ltd purchased a new position in shares of Similarweb during the 4th quarter worth approximately $1,348,000. 57.59% of the stock is currently owned by institutional investors and hedge funds.

Similarweb Company Profile

Similarweb Ltd. (NYSE: SMWB) provides digital intelligence and market research solutions that help businesses understand online activity and competitive dynamics. Its platform analyzes digital behavior across websites and mobile applications, offering insights into audience interests, traffic sources, engagement, user journeys and industry trends.

The company serves customers across a range of industries, including technology, retail, financial services, media and advertising. Its products support marketing, sales, business development, investor research and strategy teams by helping them identify market opportunities, evaluate competitors, assess customer demand and monitor digital performance.

Similarweb was founded in 2007 by Or Offer and Nir Cohen and is headquartered in Israel, with operations and customers serving markets internationally.