Similarweb (NYSE:SMWB) Posts Quarterly Earnings Results, Beats Expectations By $0.03 EPS

Similarweb (NYSE:SMWB) issued its earnings results on Tuesday. The company reported $0.05 EPS for the quarter, beating the consensus estimate of $0.02 by $0.03, reports. The company had revenue of $71.79 million for the quarter, compared to the consensus estimate of $71.95 million. Similarweb had a negative net margin of 10.84% and a negative return on equity of 88.03%. Similarweb updated its FY 2025 guidance to EPS.

Similarweb Trading Down 7.8%

Similarweb stock traded down $0.67 during mid-day trading on Wednesday, hitting $7.82. The stock had a trading volume of 714,773 shares, compared to its average volume of 540,884. The stock has a 50-day simple moving average of $9.16 and a two-hundred day simple moving average of $8.48. The stock has a market capitalization of $663.26 million, a PE ratio of -22.33 and a beta of 1.09. Similarweb has a 12 month low of $6.36 and a 12 month high of $17.64.

Institutional Inflows and Outflows

Several hedge funds have recently modified their holdings of the business. Jump Financial LLC acquired a new stake in shares of Similarweb during the 2nd quarter worth approximately $1,457,000. Qube Research & Technologies Ltd bought a new position in Similarweb in the second quarter valued at approximately $878,000. Engineers Gate Manager LP boosted its stake in Similarweb by 375.8% in the second quarter. Engineers Gate Manager LP now owns 102,311 shares of the company’s stock valued at $802,000 after acquiring an additional 80,808 shares during the last quarter. Man Group plc acquired a new stake in Similarweb during the 2nd quarter worth $209,000. Finally, Tidal Investments LLC raised its position in shares of Similarweb by 66.4% during the 2nd quarter. Tidal Investments LLC now owns 61,574 shares of the company’s stock valued at $483,000 after acquiring an additional 24,568 shares during the last quarter. Institutional investors own 57.59% of the company’s stock.

Analyst Upgrades and Downgrades

Several analysts have recently weighed in on the stock. Barclays reaffirmed an “overweight” rating on shares of Similarweb in a report on Wednesday, August 13th. Oppenheimer raised their price target on Similarweb from $13.00 to $14.00 and gave the company an “outperform” rating in a report on Monday, August 18th. Citigroup reissued a “market outperform” rating on shares of Similarweb in a research note on Tuesday, October 28th. Weiss Ratings restated a “sell (e+)” rating on shares of Similarweb in a report on Wednesday, October 8th. Finally, Zacks Research upgraded Similarweb from a “strong sell” rating to a “hold” rating in a research note on Thursday, August 14th. Nine research analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat, Similarweb presently has an average rating of “Moderate Buy” and a consensus target price of $14.88.

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.