Similarweb (NYSE:SMWB) Shares Up 6.7% – Still a Buy?

Shares of Similarweb Ltd. (NYSE:SMWB) were up 6.7% during trading on Monday . The stock traded as high as $7.14 and last traded at $7.1050. Approximately 676,920 shares were traded during mid-day trading, a decline of 22% from the average daily volume of 866,584 shares. The stock had previously closed at $6.66.

Wall Street Analyst Weigh In

Several research analysts have weighed in on the company. Citigroup boosted their price target on Similarweb from $3.00 to $7.00 and gave the company a “neutral” rating in a report on Thursday. Barclays lowered their price objective on Similarweb from $7.00 to $5.00 and set an “overweight” rating for the company in a research report on Monday, April 20th. Finally, Oppenheimer raised their price target on Similarweb from $4.00 to $7.00 and gave the stock an “outperform” rating in a research note on Thursday, June 18th. Three equities research analysts have rated the stock with a Buy rating, seven have given a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat.com, the company presently has an average rating of “Hold” and an average target price of $8.07.

Similarweb Trading Up 6.7%

The firm has a market capitalization of $622.41 million, a PE ratio of -20.34 and a beta of 1.17. The firm has a 50-day moving average of $4.55 and a two-hundred day moving average of $4.26.

Similarweb (NYSE:SMWB) last posted its quarterly earnings results on Wednesday, May 13th. The company reported $0.01 earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of $0.01. The firm had revenue of $73.88 million during the quarter, compared to the consensus estimate of $73.04 million. Similarweb had a negative return on equity of 48.57% and a negative net margin of 10.38%. Equities research analysts expect that Similarweb Ltd. will post -0.08 earnings per share for the current fiscal year.

Insider Buying and Selling at Similarweb

In related news, Director Harel Moshe Beit-On acquired 75,000 shares of the business’s stock in a transaction on Wednesday, May 20th. The shares were bought at an average cost of $3.89 per share, with a total value of $291,750.00. Following the completion of the transaction, the director directly owned 10,885,778 shares of the company’s stock, valued at $42,345,676.42. This trade represents a 0.69% increase in their position. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Barak Eilam acquired 50,000 shares of Similarweb stock in a transaction on Thursday, May 21st. The shares were bought at an average price of $3.86 per share, for a total transaction of $193,000.00. Following the purchase, the director owned 101,315 shares of the company’s stock, valued at $391,075.90. This represents a 97.44% increase in their ownership of the stock. The SEC filing for this purchase provides additional information. In the last quarter, insiders acquired 271,105 shares of company stock worth $1,020,726. 62.40% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Similarweb

Several hedge funds and other institutional investors have recently bought and sold shares of SMWB. Militia Capital Management LLC acquired a new position in shares of Similarweb during the first quarter worth $616,000. Lavelle Capital LP acquired a new stake in Similarweb during the 1st quarter valued at $529,000. Bank of America Corp DE boosted its position in Similarweb by 475.3% in the 1st quarter. Bank of America Corp DE now owns 63,985 shares of the company’s stock valued at $167,000 after buying an additional 52,863 shares during the last quarter. Renaissance Technologies LLC grew its stake in shares of Similarweb by 104.6% during the first quarter. Renaissance Technologies LLC now owns 739,673 shares of the company’s stock valued at $1,931,000 after acquiring an additional 378,200 shares in the last quarter. Finally, Sphera Management Technology Funds Ltd grew its stake in shares of Similarweb by 3.7% during the fourth quarter. Sphera Management Technology Funds Ltd now owns 480,000 shares of the company’s stock valued at $3,595,000 after acquiring an additional 17,122 shares in the last quarter. 57.59% of the stock is owned by institutional investors and hedge funds.

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.