Short Interest in Similarweb Ltd. (NYSE:SMWB) Declines By 32.7%

Similarweb Ltd. (NYSE:SMWB) was the target of a significant decline in short interest during the month of August. As of August 14th, there was short interest totaling 402,389 shares, a decline of 32.7% from the July 30th total of 597,700 shares. Currently, 0.5% of the company’s shares are sold short. Based on an average daily trading volume, of 1,310,402 shares, the short-interest ratio is presently 0.3 days.

Wall Street Analyst Weigh In

A number of research analysts have recently weighed in on the company. Weiss Ratings reissued a “sell (e+)” rating on shares of Similarweb in a research note on Wednesday, August 12th. Northland Securities raised Similarweb from a “market perform” rating to an “outperform” rating and lifted their price objective for the stock from $5.00 to $10.00 in a research note on Wednesday, August 12th. Citigroup upped their price objective on Similarweb from $7.00 to $9.00 and gave the company a “neutral” rating in a report on Thursday, August 13th. Wall Street Zen upgraded Similarweb from a “buy” rating to a “strong-buy” rating in a report on Sunday, August 23rd. Finally, Barclays boosted their target price on Similarweb from $5.00 to $11.00 and gave the stock an “overweight” rating in a research report on Thursday, August 13th. Four equities research analysts have rated the stock with a Buy rating, five have given a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat, the stock currently has an average rating of “Hold” and a consensus target price of $10.14.

Insiders Place Their Bets

In related news, CEO Or Offer sold 574,605 shares of the stock in a transaction that occurred on Thursday, August 13th. The shares were sold at an average price of $8.80, for a total value of $5,056,524.00. Following the transaction, the chief executive officer directly owned 4,598,291 shares in the company, valued at $40,464,960.80. This represents a 11.11% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Insiders have sold 1,092,724 shares of company stock valued at $9,702,046 in the last quarter.

Hedge Funds Weigh In On Similarweb

Large investors have recently added to or reduced their stakes in the company. Jump Financial LLC bought a new stake in shares of Similarweb in the second quarter valued at about $1,457,000. Federated Hermes Inc. grew its holdings in shares of Similarweb by 52.4% during the second quarter. Federated Hermes Inc. now owns 48,000 shares of the company’s stock worth $376,000 after buying an additional 16,500 shares in the last quarter. Qube Research & Technologies Ltd bought a new position in shares of Similarweb during the second quarter worth about $878,000. Nebula Research & Development LLC acquired a new stake in Similarweb in the 2nd quarter valued at approximately $146,000. Finally, California State Teachers Retirement System raised its position in Similarweb by 29.7% in the 2nd quarter. California State Teachers Retirement System now owns 49,654 shares of the company’s stock valued at $389,000 after buying an additional 11,356 shares during the last quarter. Institutional investors own 57.59% of the company’s stock.

Similarweb Stock Performance

SMWB stock traded down $0.55 during mid-day trading on Tuesday, hitting $8.74. 614,674 shares of the company were exchanged, compared to its average volume of 900,032. Similarweb has a 1-year low of $2.22 and a 1-year high of $10.35. The firm’s 50 day simple moving average is $7.23 and its 200 day simple moving average is $4.65. The firm has a market cap of $765.62 million, a P/E ratio of -34.96 and a beta of 1.13.

Similarweb (NYSE:SMWB) last released its quarterly earnings results on Wednesday, August 12th. The company reported $0.06 earnings per share for the quarter. Similarweb had a negative net margin of 7.37% and a negative return on equity of 19.81%. The company had revenue of $77.19 million during the quarter.

Similarweb Company Profile

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.