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

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

A number of other equities research analysts have also recently commented on the stock. Barclays raised their price target on shares of Similarweb from $5.00 to $11.00 and gave the stock an “overweight” rating in a report on Thursday, August 13th. Oppenheimer upped their price objective on shares of Similarweb from $7.00 to $8.50 and gave the company an “outperform” rating in a report on Wednesday, August 5th. Needham & Company LLC upgraded shares of Similarweb from a “hold” rating to a “buy” rating and set a $11.00 price objective on the stock in a report on Wednesday, September 16th. Northland Securities raised shares of Similarweb from a “market perform” rating to an “outperform” rating and increased their price objective for the stock from $5.00 to $10.00 in a research report on Wednesday, August 12th. Finally, Zacks Research upgraded Similarweb from a “hold” rating to a “strong-buy” rating in a research note on Friday, October 2nd. One equities research analyst has rated the stock with a Strong Buy rating, five have issued a Buy rating, four have given a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $9.71.

Similarweb Stock Performance

Similarweb stock opened at $8.68 on Friday. The stock has a market capitalization of $760.37 million, a price-to-earnings ratio of -34.72 and a beta of 1.30. Similarweb has a 52-week low of $2.22 and a 52-week high of $9.50. The stock’s 50 day moving average price is $8.34 and its two-hundred day moving average price is $5.83.

Similarweb (NYSE:SMWB) last announced 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 during the quarter.

Insider Activity at Similarweb

In other news, CEO Or Offer sold 114,300 shares of the company’s stock in a transaction that occurred on Thursday, September 24th. The stock was sold at an average price of $7.69, for a total transaction of $878,967.00. Following the transaction, the chief executive officer directly owned 3,930,481 shares of the company’s stock, valued at $30,225,398.89. This represents a 2.83% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. 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 worth $15,163,145 in the last ninety days.

Hedge Funds Weigh In On Similarweb

A number of large investors have recently modified their holdings of SMWB. Integrated Wealth Concepts LLC bought a new stake in Similarweb during the 2nd quarter valued at $92,000. Wellington Management Group LLP lifted 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 buying an additional 657,928 shares in the last quarter. Militia Capital Management LLC bought a new position in shares of Similarweb in the first quarter valued at $616,000. Lavelle Capital LP bought a new position in shares of Similarweb in the first quarter valued at $529,000. Finally, Bank of America Corp DE lifted its stake in shares of Similarweb by 475.3% in the first quarter. Bank of America Corp DE now owns 63,985 shares of the company’s stock valued at $167,000 after buying an additional 52,863 shares in the last quarter. 57.59% of the stock is currently owned by institutional investors.

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.