Similarweb (NYSE:SMWB) Shares Gap Down – Here’s What Happened

Similarweb Ltd. (NYSE:SMWB) gapped down prior to trading on Wednesday . The stock had previously closed at $8.48, but opened at $7.20. Similarweb shares last traded at $7.71, with a volume of 244,450 shares.

Wall Street Analyst Weigh In

Several research firms have issued reports on SMWB. Jefferies Financial Group reissued a “buy” rating and issued a $11.00 price target on shares of Similarweb in a research note on Friday. Zacks Research upgraded Similarweb from a “strong sell” rating to a “hold” rating in a report on Thursday, August 14th. Barclays restated an “overweight” rating on shares of Similarweb in a research note on Wednesday, August 13th. Weiss Ratings reaffirmed a “sell (e+)” rating on shares of Similarweb in a research note on Wednesday, October 8th. Finally, Citigroup reiterated a “market outperform” rating on shares of Similarweb in a report on Tuesday, October 28th. Nine investment analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $13.38.

Similarweb Stock Performance

The company has a market cap of $624.22 million, a price-to-earnings ratio of -19.88 and a beta of 1.09. The firm has a fifty day moving average price of $9.03 and a 200 day moving average price of $8.47.

Similarweb (NYSE:SMWB) last issued its earnings results on Tuesday, November 11th. The company reported $0.05 earnings per share for the quarter, topping analysts’ consensus estimates of $0.02 by $0.03. Similarweb had a negative net margin of 11.20% and a negative return on equity of 78.25%. The business had revenue of $71.79 million for the quarter, compared to the consensus estimate of $71.95 million. Similarweb has set its FY 2025 guidance at EPS. On average, analysts expect that Similarweb Ltd. will post -0.24 EPS for the current fiscal year.

Institutional Investors Weigh In On Similarweb

Hedge funds have recently bought and sold shares of the company. Lazard Asset Management LLC grew its holdings in Similarweb by 31.9% during the third quarter. Lazard Asset Management LLC now owns 19,761 shares of the company’s stock worth $184,000 after purchasing an additional 4,777 shares during the period. Wellington Management Group LLP lifted its position in shares of Similarweb by 163.6% in the third quarter. Wellington Management Group LLP now owns 2,457,805 shares of the company’s stock valued at $22,858,000 after buying an additional 1,525,230 shares during the last quarter. Portolan Capital Management LLC boosted its stake in shares of Similarweb by 62.0% during the 3rd quarter. Portolan Capital Management LLC now owns 1,179,000 shares of the company’s stock worth $10,965,000 after acquiring an additional 451,408 shares during the period. Menora Mivtachim Holdings LTD. boosted its position in Similarweb by 37.9% during the third quarter. Menora Mivtachim Holdings LTD. now owns 3,208,394 shares of the company’s stock worth $29,838,000 after purchasing an additional 881,652 shares during the period. Finally, UBS Group AG grew its stake in Similarweb by 701.6% in the 3rd quarter. UBS Group AG now owns 312,987 shares of the company’s stock valued at $2,911,000 after buying an additional 273,943 shares during the last quarter. 57.59% of the stock is currently owned by institutional investors and hedge funds.

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.