Similarweb (NYSE:SMWB) Stock Rating Upgraded by Wall Street Zen

Similarweb (NYSE:SMWB) was upgraded by investment analysts at Wall Street Zen from a “buy” rating to a “strong-buy” rating in a research report issued on Saturday, Wall Street Zen reports.

Other equities analysts also recently issued research reports about the stock. Citigroup lifted their target price on shares of Similarweb from $7.00 to $9.00 and gave the stock a “neutral” 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 price objective for the company in a report on Wednesday, September 16th. Weiss Ratings reissued a “sell (e+)” rating on shares of Similarweb in a report on Wednesday, August 12th. Northland Securities upgraded Similarweb from a “market perform” rating to an “outperform” rating and increased their target price for the stock from $5.00 to $10.00 in a research report on Wednesday, August 12th. Finally, Oppenheimer raised their price target on Similarweb from $7.00 to $8.50 and gave the stock an “outperform” rating in a report on Wednesday, August 5th. Five investment 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. According to MarketBeat, Similarweb currently has an average rating of “Hold” and an average target price of $9.71.

Similarweb Stock Performance

SMWB stock opened at $7.98 on Friday. The company has a market capitalization of $698.96 million, a price-to-earnings ratio of -31.92 and a beta of 1.30. Similarweb has a fifty-two week low of $2.22 and a fifty-two week high of $9.52. The stock has a fifty day moving average of $8.17 and a 200-day moving average of $5.54.

Similarweb (NYSE:SMWB) last announced its quarterly earnings data on Wednesday, August 12th. The company reported $0.06 earnings per share 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%.

Insider Buying and Selling

In related news, CEO Or Offer sold 574,605 shares of the company’s stock in a transaction that occurred on Thursday, August 13th. The shares were sold at an average price of $8.80, for a total transaction of $5,056,524.00. Following the sale, the chief executive officer owned 4,598,291 shares of the company’s stock, valued at approximately $40,464,960.80. This represents a 11.11% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Insiders have sold a total of 1,760,534 shares of company stock worth $15,163,145 over the last three months.

Institutional Inflows and Outflows

Large investors have recently bought and sold shares of the company. Wellington Management Group LLP raised its position in shares of Similarweb by 22.2% in the second quarter. Wellington Management Group LLP now owns 3,624,685 shares of the company’s stock worth $22,219,000 after buying an additional 657,928 shares in the last quarter. Renaissance Technologies LLC grew its position in Similarweb by 104.6% during the first quarter. Renaissance Technologies LLC now owns 739,673 shares of the company’s stock worth $1,931,000 after buying an additional 378,200 shares in the last quarter. Militia Capital Management LLC purchased a new position in Similarweb during the first quarter worth about $616,000. Lavelle Capital LP bought a new position in Similarweb in the 1st quarter worth about $529,000. Finally, Persistent Asset Partners Ltd bought a new position in Similarweb in the 4th quarter worth about $1,348,000. 57.59% of the stock is owned by institutional investors.

Similarweb Company Profile

Similarweb Ltd. (NYSE: SMWB) provides digital intelligence and market research solutions that help businesses understand online activity and competitive dynamics. Its platform analyzes digital behavior across websites and mobile applications, offering insights into audience interests, traffic sources, engagement, user journeys and industry trends.

The company serves customers across a range of industries, including technology, retail, financial services, media and advertising. Its products support marketing, sales, business development, investor research and strategy teams by helping them identify market opportunities, evaluate competitors, assess customer demand and monitor digital performance.

Similarweb was founded in 2007 by Or Offer and Nir Cohen and is headquartered in Israel, with operations and customers serving markets internationally.