Short Interest in Similarweb Ltd. (NYSE:SMWB) Expands By 59.2%

Similarweb Ltd. (NYSE:SMWB) was the target of a large growth in short interest in August. As of August 31st, there was short interest totaling 640,766 shares, a growth of 59.2% from the August 15th total of 402,389 shares. Approximately 1.9% of the shares of the stock are short sold. Based on an average trading volume of 827,895 shares, the days-to-cover ratio is presently 0.8 days.

Wall Street Analyst Weigh In

Several brokerages recently issued reports on SMWB. 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. Citigroup raised their price objective 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. Northland Securities raised Similarweb from a “market perform” rating to an “outperform” rating and lifted their target price for the company from $5.00 to $10.00 in a research note on Wednesday, August 12th. Weiss Ratings reaffirmed a “sell (e+)” rating on shares of Similarweb in a research note on Wednesday, August 12th. Finally, Barclays raised their price target on Similarweb from $5.00 to $11.00 and gave the company an “overweight” rating in a report on Thursday, August 13th. Five research analysts have rated the stock with a Buy rating, four have given a Hold rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus target price of $9.71.

Similarweb Stock Down 0.1%

Shares of SMWB traded down $0.01 during trading hours on Thursday, reaching $8.33. The stock had a trading volume of 272,502 shares, compared to its average volume of 880,065. Similarweb has a 52 week low of $2.22 and a 52 week high of $10.13. The company has a market cap of $729.71 million, a P/E ratio of -33.32 and a beta of 1.21. The firm has a 50-day moving average of $7.85 and a 200 day moving average of $5.09.

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

Insider Buying and Selling

In related news, CEO Or Offer sold 26,691 shares of the firm’s stock in a transaction on Tuesday, September 15th. The stock was sold at an average price of $8.53, for a total transaction of $227,674.23. Following the completion of the sale, the chief executive officer directly owned 4,253,500 shares of the company’s stock, valued at $36,282,355. This trade represents a 0.62% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last 90 days, insiders sold 1,437,515 shares of company stock worth $12,534,797. 62.40% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Similarweb

A number of large investors have recently added to or reduced their stakes in SMWB. Integrated Wealth Concepts LLC acquired a new position in Similarweb during the second quarter valued at approximately $92,000. Royce & Associates LP raised its position in Similarweb by 8.7% during the 4th quarter. Royce & Associates LP now owns 537,406 shares of the company’s stock worth $4,025,000 after purchasing an additional 43,078 shares during the last quarter. Bank of America Corp DE lifted its holdings in Similarweb by 475.3% during the 1st quarter. Bank of America Corp DE now owns 63,985 shares of the company’s stock worth $167,000 after buying an additional 52,863 shares during the period. S Squared Technology LLC grew its position in shares of Similarweb by 12.9% in the 4th quarter. S Squared Technology LLC now owns 775,161 shares of the company’s stock valued at $5,806,000 after buying an additional 88,489 shares during the last quarter. Finally, Nano Cap New Millennium Growth Fund L P acquired a new stake in shares of Similarweb in the fourth quarter valued at about $1,255,000. Institutional investors own 57.59% of the company’s stock.

About Similarweb

Similarweb Ltd. is a digital intelligence company that provides data and analytics about online activity. Its platform helps organizations analyze website and mobile application performance, understand audience behavior, evaluate competitors, and identify trends across digital markets.

The company’s products support a range of business functions, including marketing, sales, market research, search engine optimization, investor research and business development. Similarweb combines data from multiple sources to provide insights into web traffic, mobile app usage, customer engagement, acquisition channels and industry positioning.

Founded in 2007, Similarweb serves businesses, agencies, financial institutions and other organizations in markets around the world.