Similarweb (NYSE:SMWB) Cut to Buy at Wall Street Zen

Wall Street Zen downgraded shares of Similarweb (NYSE:SMWB) from a strong-buy rating to a buy rating in a research report released on Sunday morning,Wall Street Zen reports.

A number of other research firms also recently commented on SMWB. Barclays upped their price objective on shares of Similarweb from $5.00 to $11.00 and gave the company an “overweight” rating in a research note on Thursday, August 13th. Needham & Company LLC raised shares of Similarweb from a “hold” rating to a “buy” rating and set a $11.00 target price on the stock in a research report on Wednesday, September 16th. Northland Securities upgraded shares of Similarweb from a “market perform” rating to an “outperform” rating and boosted their target price for the company from $5.00 to $10.00 in a report on Wednesday, August 12th. Zacks Research upgraded shares of Similarweb from a “hold” rating to a “strong-buy” rating in a report on Friday, October 2nd. Finally, Oppenheimer upped their price target on shares of Similarweb from $7.00 to $8.50 and gave the stock an “outperform” rating in a research report on Wednesday, August 5th. One equities research analyst has rated the stock with a Strong Buy rating, five have assigned a Buy rating, four have issued a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat.com, Similarweb currently has an average rating of “Moderate Buy” and an average price target of $9.71.

Similarweb Stock Up 0.6%

Shares of NYSE:SMWB opened at $8.76 on Friday. The company has a market cap of $766.94 million, a P/E ratio of -35.02 and a beta of 1.36. Similarweb has a 52 week low of $2.22 and a 52 week high of $9.50. The business has a fifty day simple moving average of $8.52 and a 200-day simple moving average of $5.57.

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

Insiders Place Their Bets

In related news, CEO Or Offer sold 574,605 shares of Similarweb stock in a transaction on Thursday, August 13th. The stock was sold at an average price of $8.80, for a total value of $5,056,524.00. Following the transaction, the chief executive officer owned 4,598,291 shares in the company, valued at approximately $40,464,960.80. This trade represents a 11.11% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders sold a total of 1,760,534 shares of company stock valued at $15,163,145 in the last 90 days.

Institutional Investors Weigh In On Similarweb

Several institutional investors and hedge funds have recently added to or reduced their stakes in the company. Wellington Management Group LLP lifted its stake in shares of Similarweb by 22.2% in the 2nd quarter. Wellington Management Group LLP now owns 3,624,685 shares of the company’s stock valued at $22,219,000 after purchasing an additional 657,928 shares in the last quarter. CenterBook Partners LP grew its holdings in shares of Similarweb by 46.9% during the 3rd quarter. CenterBook Partners LP now owns 881,065 shares of the company’s stock worth $6,837,000 after purchasing an additional 281,328 shares during the period. Renaissance Technologies LLC grew its holdings in shares of Similarweb by 104.6% during the 1st quarter. Renaissance Technologies LLC now owns 739,673 shares of the company’s stock worth $1,931,000 after purchasing an additional 378,200 shares during the period. Militia Capital Management LLC acquired a new stake in Similarweb during the 1st quarter worth approximately $616,000. Finally, Lavelle Capital LP acquired a new stake in Similarweb during the 1st quarter worth approximately $529,000. 57.59% of the stock is currently owned by institutional investors and hedge funds.

About Similarweb

Similarweb Ltd. (NYSE: SMWB) provides digital data and market intelligence through a software-as-a-service platform. The company collects and analyzes data on website and mobile application activity to help organizations understand online audiences, markets, competitors and customer behavior.

Its products support digital marketing, search engine optimization, sales and business development, market research, investor research, e-commerce and shopper intelligence. Customers can use Similarweb’s platform to evaluate traffic sources, audience engagement, keyword performance, industry trends and competitive positioning across digital channels.

Similarweb serves enterprises, advertising and marketing agencies, financial institutions, publishers and other organizations in markets around the world.