Similarweb (NYSE:SMWB) Shares Gap Up – Still a Buy?

Similarweb Ltd. (NYSE:SMWB) gapped up before the market opened on Monday . The stock had previously closed at $7.89, but opened at $8.27. Similarweb shares last traded at $8.31, with a volume of 126,634 shares trading hands.

Analysts Set New Price Targets

A number of research analysts have commented on the stock. Barclays reduced their price objective on shares of Similarweb from $15.00 to $10.00 and set an “overweight” rating on the stock in a research note on Thursday, May 15th. The Goldman Sachs Group decreased their target price on shares of Similarweb from $13.00 to $10.00 and set a “buy” rating for the company in a research report on Thursday, April 17th. Citigroup raised their target price on shares of Similarweb from $14.00 to $22.00 and gave the stock a “buy” rating in a report on Tuesday, February 11th. JMP Securities reaffirmed a “market outperform” rating and set a $17.00 price objective on shares of Similarweb in a report on Thursday, February 13th. Finally, Needham & Company LLC reiterated a “buy” rating and set a $14.00 price target on shares of Similarweb in a research note on Thursday, February 13th. Nine investment analysts have rated the stock with a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, Similarweb has an average rating of “Buy” and a consensus target price of $15.75.

Similarweb Stock Up 4.8%

The company has a 50 day moving average price of $7.36 and a 200-day moving average price of $10.80. The company has a market cap of $683.26 million, a price-to-earnings ratio of -59.07 and a beta of 1.09.

Similarweb (NYSE:SMWB) last released its quarterly earnings data on Tuesday, May 13th. The company reported ($0.11) EPS for the quarter, missing the consensus estimate of ($0.02) by ($0.09). The firm had revenue of $67.09 million for the quarter, compared to the consensus estimate of $66.37 million. Similarweb had a negative net margin of 4.58% and a negative return on equity of 47.62%. On average, analysts forecast that Similarweb Ltd. will post -0.24 EPS for the current fiscal year.

Institutional Inflows and Outflows

A number of institutional investors have recently bought and sold shares of the business. Schonfeld Strategic Advisors LLC bought a new position in shares of Similarweb during the 4th quarter worth $22,536,000. Migdal Insurance & Financial Holdings Ltd. raised its holdings in shares of Similarweb by 61.3% in the 1st quarter. Migdal Insurance & Financial Holdings Ltd. now owns 2,762,557 shares of the company’s stock valued at $22,846,000 after acquiring an additional 1,050,000 shares in the last quarter. Wellington Management Group LLP bought a new stake in Similarweb during the first quarter worth about $7,355,000. T. Rowe Price Investment Management Inc. increased its holdings in Similarweb by 109.1% during the 1st quarter. T. Rowe Price Investment Management Inc. now owns 1,410,826 shares of the company’s stock valued at $11,668,000 after purchasing an additional 736,004 shares during the period. Finally, American Century Companies Inc. purchased a new position in shares of Similarweb during the first quarter valued at approximately $6,015,000. Institutional investors own 57.59% of the company’s stock.

About Similarweb

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.