Short Interest in Similarweb Ltd. (NYSE:SMWB) Declines By 32.7%

Similarweb Ltd. (NYSE:SMWB) saw a large decline in short interest in August. As of August 14th, there was short interest totaling 402,389 shares, a decline of 32.7% from the July 30th total of 597,700 shares. Based on an average trading volume of 1,310,402 shares, the days-to-cover ratio is currently 0.3 days. Currently, 0.5% of the company’s stock are short sold.

Wall Street Analyst Weigh In

SMWB has been the subject of a number of analyst reports. Weiss Ratings reaffirmed a “sell (e+)” rating on shares of Similarweb in a research report on Wednesday, August 12th. Citigroup upped their target price on Similarweb from $7.00 to $9.00 and gave the stock a “neutral” rating in a research report on Thursday, August 13th. Wall Street Zen upgraded shares of Similarweb from a “buy” rating to a “strong-buy” rating in a report on Sunday, August 23rd. Oppenheimer boosted their target price on shares of Similarweb from $7.00 to $8.50 and gave the stock an “outperform” rating in a research report on Wednesday, August 5th. Finally, Northland Securities upgraded shares of 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 report on Wednesday, August 12th. Four analysts have rated the stock with a Buy rating, five have assigned a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat, the stock presently has an average rating of “Hold” and an average target price of $10.14.

Similarweb Stock Down 1.1%

Shares of SMWB opened at $8.68 on Thursday. The stock’s 50-day moving average price is $7.38 and its 200 day moving average price is $4.71. The firm has a market capitalization of $760.37 million, a price-to-earnings ratio of -34.72 and a beta of 1.21. Similarweb has a 12-month low of $2.22 and a 12-month high of $10.35.

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

Insider Buying and Selling at Similarweb

In related news, CEO Or Offer sold 574,605 shares of the business’s stock in a transaction that occurred on Thursday, August 13th. The shares were sold at an average price of $8.80, for a total transaction of $5,056,524.00. Following the transaction, the chief executive officer directly owned 4,598,291 shares of the company’s stock, valued at approximately $40,464,960.80. The trade was a 11.11% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. In the last 90 days, insiders sold 1,092,724 shares of company stock valued at $9,702,046. 62.40% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Similarweb

A number of institutional investors and hedge funds have recently modified their holdings of the business. Larson Financial Group LLC acquired a new position in shares of Similarweb during the 3rd quarter worth about $25,000. Wexford Capital LP acquired a new stake in shares of Similarweb in the 3rd quarter valued at approximately $64,000. Brooklyn Investment Group bought a new position in Similarweb during the 4th quarter worth approximately $85,000. Boothbay Fund Management LLC bought a new position in Similarweb during the 4th quarter worth approximately $90,000. Finally, Nebula Research & Development LLC acquired a new position in Similarweb during the second quarter valued at approximately $146,000. 57.59% of the stock is 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.