Similarweb (NYSE:SMWB) Stock Price Down 5.3%

Similarweb Ltd. (NYSE:SMWBGet Free Report)’s stock price dropped 5.3% on Tuesday . The company traded as low as $8.92 and last traded at $8.99. Approximately 241,650 shares changed hands during mid-day trading, an increase of 16% from the average daily volume of 207,705 shares. The stock had previously closed at $9.49.

Analyst Ratings Changes

Several equities research analysts have recently weighed in on the company. Barclays upped their price target on Similarweb from $8.00 to $9.00 and gave the company an “overweight” rating in a research report on Thursday, February 15th. William Blair restated an “outperform” rating on shares of Similarweb in a research report on Tuesday, March 5th. Citigroup upgraded shares of Similarweb from a “neutral” rating to a “buy” rating and upped their price objective for the stock from $6.00 to $10.00 in a research report on Thursday, February 15th. Finally, Jefferies Financial Group reiterated a “buy” rating and set a $10.00 price target on shares of Similarweb in a research report on Wednesday, February 7th. Five equities research analysts have rated the stock with a buy rating, Based on data from MarketBeat, the stock currently has an average rating of “Buy” and a consensus price target of $9.75.

Check Out Our Latest Report on Similarweb

Similarweb Trading Down 5.1 %

The firm has a 50-day simple moving average of $6.94 and a 200 day simple moving average of $6.00.

Similarweb (NYSE:SMWBGet Free Report) last announced its quarterly earnings data on Tuesday, February 13th. The company reported ($0.04) EPS for the quarter, beating the consensus estimate of ($0.05) by $0.01. The business had revenue of $56.76 million during the quarter, compared to analyst estimates of $55.90 million. Similarweb had a negative return on equity of 203.38% and a negative net margin of 13.47%. As a group, equities research analysts forecast that Similarweb Ltd. will post -0.2 EPS for the current fiscal year.

Hedge Funds Weigh In On Similarweb

Several institutional investors and hedge funds have recently modified their holdings of the stock. Blair William & Co. IL increased its holdings in Similarweb by 0.5% in the 1st quarter. Blair William & Co. IL now owns 309,863 shares of the company’s stock worth $4,013,000 after buying an additional 1,502 shares in the last quarter. Legal & General Group Plc boosted its position in Similarweb by 64.8% in the fourth quarter. Legal & General Group Plc now owns 4,171 shares of the company’s stock worth $27,000 after purchasing an additional 1,640 shares during the last quarter. UBS Group AG boosted its position in Similarweb by 8.4% in the third quarter. UBS Group AG now owns 26,821 shares of the company’s stock worth $174,000 after purchasing an additional 2,074 shares during the last quarter. Morgan Stanley boosted its position in Similarweb by 16.0% in the fourth quarter. Morgan Stanley now owns 15,318 shares of the company’s stock worth $98,000 after purchasing an additional 2,110 shares during the last quarter. Finally, California State Teachers Retirement System lifted its position in shares of Similarweb by 15.2% during the 3rd quarter. California State Teachers Retirement System now owns 20,295 shares of the company’s stock valued at $119,000 after buying an additional 2,675 shares in the last quarter.

About Similarweb

(Get Free Report)

Similarweb Ltd. provides cloud-based digital intelligence solutions in the United States, Europe, the Asia Pacific, the United Kingdom, Israel, and internationally. The company offers digital research intelligence solutions for its customers to benchmark performance against competitors and market leaders, analyze trends in the market, conduct deeper research into specific companies, and analyze audience behavior; and digital marketing intelligence solutions for its customers to understand their competitors' online acquisition strategies in each marketing channel, and optimize their own strategies.

Further Reading

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