Similarweb (NYSE:SMWB) Price Target Lowered to $8.50 at Citigroup

Similarweb (NYSE:SMWB) had its price target lowered by Citigroup from $11.00 to $8.50 in a research note issued to investors on Friday,Benzinga reports. Citigroup currently has a buy rating on the stock.

Other analysts also recently issued research reports about the company. Jefferies Financial Group reissued a “buy” rating and issued a $11.00 price target on shares of Similarweb in a report on Friday, November 14th. Oppenheimer dropped their target price on Similarweb from $7.00 to $4.00 and set an “outperform” rating on the stock in a research report on Thursday. Citizens Jmp downgraded shares of Similarweb from an “outperform” rating to a “market perform” rating in a report on Wednesday. Needham & Company LLC lowered shares of Similarweb from a “buy” rating to a “hold” rating in a research report on Wednesday. Finally, William Blair cut shares of Similarweb from an “outperform” rating to a “market perform” rating in a report on Wednesday. Four investment analysts have rated the stock with a Buy rating, six have given a Hold rating and one has issued a Sell rating to the company’s stock. According to MarketBeat.com, Similarweb has an average rating of “Hold” and an average price target of $8.14.

Similarweb Trading Up 8.8%

SMWB stock opened at $2.80 on Friday. The stock’s 50 day simple moving average is $5.86 and its 200 day simple moving average is $7.70. Similarweb has a 12-month low of $2.22 and a 12-month high of $10.75. The firm has a market cap of $237.21 million, a P/E ratio of -7.17 and a beta of 1.09.

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

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in the stock. Phoenix Financial Ltd. raised its holdings in Similarweb by 43.2% during the fourth quarter. Phoenix Financial Ltd. now owns 4,285,786 shares of the company’s stock worth $32,101,000 after purchasing an additional 1,292,700 shares in the last quarter. Menora Mivtachim Holdings LTD. increased its position in shares of Similarweb by 37.9% during the 3rd quarter. Menora Mivtachim Holdings LTD. now owns 3,208,394 shares of the company’s stock valued at $29,838,000 after purchasing an additional 881,652 shares during the period. Migdal Insurance & Financial Holdings Ltd. raised its stake in shares of Similarweb by 3.3% in the 3rd quarter. Migdal Insurance & Financial Holdings Ltd. now owns 3,106,157 shares of the company’s stock worth $28,887,000 after buying an additional 100,000 shares in the last quarter. Wellington Management Group LLP lifted its holdings in shares of Similarweb by 163.6% in the third quarter. Wellington Management Group LLP now owns 2,457,805 shares of the company’s stock valued at $22,858,000 after buying an additional 1,525,230 shares during the period. Finally, Penn Capital Management Company LLC lifted its holdings in shares of Similarweb by 299.4% in the third quarter. Penn Capital Management Company LLC now owns 1,646,094 shares of the company’s stock valued at $15,321,000 after buying an additional 1,233,928 shares during the period. 57.59% of the stock is currently owned by institutional investors.

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.