Similarweb (NYSE:SMWB) Upgraded at Northland Securities

Northland Securities upgraded shares of Similarweb (NYSE:SMWB) from a market perform rating to an outperform rating in a report released on Wednesday morning, MarketBeat.com reports. The brokerage currently has $10.00 price objective on the stock, up from their previous price objective of $5.00.

Several other equities research analysts have also recently commented on the stock. Oppenheimer boosted 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. Barclays reduced their price objective on shares of Similarweb from $7.00 to $5.00 and set an “overweight” rating for the company in a research report on Monday, April 20th. Finally, Citigroup boosted their target price on shares of Similarweb from $3.00 to $7.00 and gave the stock a “neutral” rating in a report on Thursday, July 9th. Four analysts have rated the stock with a Buy rating, five have assigned a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of “Hold” and a consensus target price of $10.14.

Similarweb Trading Down 1.5%

Shares of NYSE:SMWB opened at $8.88 on Wednesday. The company has a 50 day moving average of $6.34 and a 200-day moving average of $4.36. The firm has a market cap of $777.45 million, a P/E ratio of -35.50 and a beta of 1.14. Similarweb has a twelve month low of $2.22 and a twelve month high of $10.75.

Similarweb (NYSE:SMWB) last announced 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 for the quarter. Equities research analysts forecast that Similarweb will post -0.08 EPS for the current year.

Insider Buying and Selling

In other Similarweb news, Director Barak Eilam acquired 50,000 shares of Similarweb stock in a transaction dated Thursday, May 21st. The stock was bought at an average cost of $3.86 per share, with a total value of $193,000.00. Following the completion of the transaction, the director owned 101,315 shares of the company’s stock, valued at $391,075.90. The trade was a 97.44% increase in their ownership of the stock. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Tamar Rapaport-Dagim acquired 40,000 shares of the stock in a transaction dated Monday, May 18th. The stock was bought at an average price of $3.22 per share, for a total transaction of $128,800.00. Following the purchase, the director owned 63,584 shares of the company’s stock, valued at $204,740.48. The trade was a 169.61% increase in their position. Additional details regarding this purchase are available in the official SEC disclosure. Insiders bought 271,105 shares of company stock worth $1,020,726 over the last ninety days. Company insiders own 62.40% of the company’s stock.

Hedge Funds Weigh In On Similarweb

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Wellington Management Group LLP grew its holdings in shares of Similarweb by 163.6% during the 3rd quarter. Wellington Management Group LLP now owns 2,457,805 shares of the company’s stock worth $22,858,000 after purchasing an additional 1,525,230 shares in the last quarter. Phoenix Financial Ltd. raised its stake in shares of Similarweb by 43.2% in the fourth quarter. Phoenix Financial Ltd. now owns 4,285,786 shares of the company’s stock valued at $32,101,000 after purchasing an additional 1,292,700 shares in the last quarter. Renaissance Technologies LLC raised its stake in shares of Similarweb by 104.6% in the first quarter. Renaissance Technologies LLC now owns 739,673 shares of the company’s stock valued at $1,931,000 after purchasing an additional 378,200 shares in the last quarter. UBS Group AG lifted its position in Similarweb by 701.6% in the third quarter. UBS Group AG now owns 312,987 shares of the company’s stock worth $2,911,000 after purchasing an additional 273,943 shares during the period. Finally, Militia Capital Management LLC bought a new position in Similarweb in the first quarter worth $616,000. 57.59% of the stock is currently owned by institutional investors.

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.