Similarweb (NYSE:SMWB) Rating Lowered to Hold at Zacks Research

Similarweb (NYSE:SMWB) was downgraded by equities researchers at Zacks Research from a “strong-buy” rating to a “hold” rating in a research note issued on Monday, Zacks reports.

Several other research analysts have also recently issued reports on the company. Oppenheimer raised their target price on Similarweb from $7.00 to $8.50 and gave the stock an “outperform” rating in a research report on Wednesday, August 5th. Needham & Company LLC raised shares of Similarweb from a “hold” rating to a “buy” rating and set a $11.00 price target for the company in a research report on Wednesday, September 16th. Citigroup upped their price target on shares of Similarweb from $7.00 to $9.00 and gave the company a “neutral” rating in a research report on Thursday, August 13th. Barclays increased their price objective on shares of Similarweb from $5.00 to $11.00 and gave the stock an “overweight” rating in a research note on Thursday, August 13th. Finally, Northland Securities raised shares of Similarweb from a “market perform” rating to an “outperform” rating and raised their price objective for the stock from $5.00 to $10.00 in a report on Wednesday, August 12th. Five 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 stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus price target of $9.71.

Similarweb Price Performance

SMWB stock opened at $8.76 on Monday. 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 1 year low of $2.22 and a 1 year high of $9.50. The stock’s fifty day moving average price is $8.52 and its 200-day moving average price is $5.57.

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

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 transaction of $5,056,524.00. Following the transaction, the chief executive officer directly owned 4,598,291 shares in the company, valued at approximately $40,464,960.80. The trade was a 11.11% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders sold 1,760,534 shares of company stock worth $15,163,145 in the last quarter.

Institutional Trading of Similarweb

A number of hedge funds and other institutional investors have recently bought and sold shares of the stock. Integrated Wealth Concepts LLC bought a new position in shares of Similarweb in the second quarter worth about $92,000. Bank of America Corp DE lifted its position in shares of Similarweb by 475.3% during 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 in the last quarter. State of Wyoming grew its stake in shares of Similarweb by 33.6% during the 3rd quarter. State of Wyoming now owns 118,170 shares of the company’s stock valued at $917,000 after acquiring an additional 29,712 shares during the period. Lavelle Capital LP bought a new position in shares of Similarweb during the 1st quarter valued at approximately $529,000. Finally, Militia Capital Management LLC bought a new position in shares of Similarweb during the 1st quarter valued at approximately $572,000. Hedge funds and other institutional investors own 57.59% of the company’s stock.

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.