Short Interest in Similarweb Ltd. (NYSE:SMWB) Drops By 20.9%

Similarweb Ltd. (NYSE:SMWB) was the recipient of a significant drop in short interest in the month of March. As of March 15th, there was short interest totalling 620,500 shares, a drop of 20.9% from the February 28th total of 784,100 shares. Approximately 1.5% of the shares of the company are short sold. Based on an average daily volume of 726,100 shares, the days-to-cover ratio is currently 0.9 days.

Institutional Trading of Similarweb

A number of large investors have recently bought and sold shares of the stock. Quantbot Technologies LP bought a new stake in Similarweb during the third quarter worth about $75,000. Walleye Capital LLC boosted its stake in Similarweb by 115.9% in the third quarter. Walleye Capital LLC now owns 354,653 shares of the company’s stock worth $3,135,000 after purchasing an additional 190,380 shares in the last quarter. Verition Fund Management LLC bought a new stake in shares of Similarweb during the third quarter worth $160,000. Atom Investors LP grew its holdings in Similarweb by 41.1% during the 3rd quarter. Atom Investors LP now owns 143,942 shares of the company’s stock worth $1,272,000 after acquiring an additional 41,935 shares during the last quarter. Finally, Centiva Capital LP acquired a new stake in shares of Similarweb in the third quarter valued at approximately $212,000. 57.59% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

Several equities analysts recently issued reports on the company. Needham & Company LLC reaffirmed a “buy” rating and set a $14.00 price objective on shares of Similarweb in a report on Thursday, February 13th. William Blair reaffirmed an “outperform” rating on shares of Similarweb in a research note on Thursday, December 19th. The Goldman Sachs Group dropped their target price on shares of Similarweb from $15.00 to $13.00 and set a “buy” rating for the company in a research report on Friday, March 28th. Northland Securities raised their target price on Similarweb from $17.00 to $20.00 and gave the company an “outperform” rating in a report on Friday, January 24th. Finally, JMP Securities reiterated a “market outperform” rating and issued a $17.00 price target on shares of Similarweb in a research note on Thursday, February 13th. Nine analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, Similarweb presently has a consensus rating of “Buy” and a consensus target price of $16.13.

Similarweb Stock Down 1.6 %

Similarweb stock traded down $0.13 during mid-day trading on Wednesday, reaching $8.21. The company had a trading volume of 376,232 shares, compared to its average volume of 374,440. The company has a 50 day moving average of $11.58 and a 200-day moving average of $11.50. Similarweb has a 52 week low of $5.71 and a 52 week high of $17.64. The firm has a market cap of $678.30 million, a price-to-earnings ratio of -58.64 and a beta of 1.08.

Similarweb (NYSE:SMWB) last issued its earnings results on Tuesday, February 11th. The company reported ($0.07) EPS for the quarter, missing analysts’ consensus estimates of $0.03 by ($0.10). Similarweb had a negative net margin of 4.58% and a negative return on equity of 47.62%. On average, analysts predict that Similarweb will post -0.24 earnings per share for the current fiscal year.

Similarweb Company Profile

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.