Short Interest in Similarweb Ltd. (NYSE:SMWB) Decreases By 25.2%

Similarweb Ltd. (NYSE:SMWB) was the recipient of a significant decrease in short interest in the month of March. As of March 13th, there was short interest totaling 753,425 shares, a decrease of 25.2% from the February 26th total of 1,007,583 shares. Based on an average daily trading volume, of 543,859 shares, the short-interest ratio is currently 1.4 days. Approximately 0.9% of the shares of the stock are short sold.

Hedge Funds Weigh In On Similarweb

A number of hedge funds and other institutional investors have recently modified their holdings of SMWB. SG Americas Securities LLC purchased a new position in shares of Similarweb during the 2nd quarter valued at about $255,000. Swiss National Bank boosted its stake in Similarweb by 9.8% in the second quarter. Swiss National Bank now owns 87,474 shares of the company’s stock worth $686,000 after buying an additional 7,800 shares in the last quarter. Jefferies Financial Group Inc. bought a new position in Similarweb during the second quarter valued at approximately $282,000. Jump Financial LLC purchased a new position in shares of Similarweb during the second quarter worth approximately $1,457,000. Finally, Formula Growth Ltd. purchased a new position in shares of Similarweb during the second quarter worth approximately $784,000. 57.59% of the stock is currently owned by hedge funds and other institutional investors.

Similarweb Price Performance

SMWB stock traded up $0.06 during midday trading on Tuesday, reaching $2.54. The company had a trading volume of 49,944 shares, compared to its average volume of 938,480. The firm has a 50-day moving average price of $3.61 and a 200-day moving average price of $6.53. The company has a market capitalization of $220.44 million, a P/E ratio of -6.49 and a beta of 1.17. Similarweb has a 1 year low of $2.22 and a 1 year high of $10.75.

Similarweb (NYSE:SMWB) last posted its quarterly earnings data on Tuesday, February 17th. The company reported $0.03 earnings per share for the quarter, beating the consensus estimate of $0.01 by $0.02. Similarweb had a negative net margin of 11.65% and a negative return on equity of 70.38%. The firm had revenue of $72.76 million for the quarter, compared to analysts’ expectations of $76.45 million. On average, equities analysts predict that Similarweb will post -0.24 EPS for the current year.

Wall Street Analyst Weigh In

A number of research firms have recently commented on SMWB. Weiss Ratings restated a “sell (d-)” rating on shares of Similarweb in a research report on Monday, December 29th. Oppenheimer reduced their price target on shares of Similarweb from $7.00 to $4.00 and set an “outperform” rating for the company in a research report on Thursday, February 19th. Wall Street Zen downgraded Similarweb from a “buy” rating to a “hold” rating in a research report on Saturday, February 21st. Northland Securities lowered Similarweb from an “outperform” rating to a “market perform” rating and set a $5.00 price objective for the company. in a research note on Wednesday, February 18th. Finally, Citizens Jmp cut Similarweb from an “outperform” rating to a “market perform” rating in a research report on Wednesday, February 18th. Four analysts have rated the stock with a Buy rating, six have issued a Hold rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat, Similarweb has a consensus rating of “Hold” and a consensus target price of $8.14.

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.