Similarweb Ltd. (NYSE:SMWB) Stock Has Average Price Target of $9.71

Similarweb Ltd. (NYSE:SMWB) has received a consensus rating of “Hold” from the eleven brokerages that are presently covering the firm, Marketbeat.com reports. One research analyst has rated the stock with a sell recommendation, five have given a hold recommendation and five have given a buy recommendation to the company. The average 12-month price target among analysts that have covered the stock in the last year is $9.71.

A number of research firms recently issued reports on SMWB. Barclays lifted their price objective on Similarweb from $5.00 to $11.00 and gave the company an “overweight” rating in a research report on Thursday, August 13th. Citigroup boosted their target price on Similarweb from $7.00 to $9.00 and gave the company a “neutral” rating in a research note on Thursday, August 13th. Wall Street Zen lowered Similarweb from a “strong-buy” rating to a “buy” rating in a research report on Sunday, November 1st. Oppenheimer raised their price target on Similarweb from $7.00 to $8.50 and gave the stock an “outperform” rating in a research note on Wednesday, August 5th. Finally, Needham & Company LLC upgraded Similarweb from a “hold” rating to a “buy” rating and set a $11.00 price target for the company in a report on Wednesday, September 16th.

Similarweb Trading Down 1.7%

Shares of Similarweb stock opened at $7.94 on Tuesday. Similarweb has a 1 year low of $2.22 and a 1 year high of $9.50. The company has a market cap of $695.54 million, a P/E ratio of -31.76 and a beta of 1.36. The stock has a 50-day moving average price of $8.41 and a 200 day moving average price of $5.65.

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

Insider Transactions at Similarweb

In other news, CEO Or Offer sold 383,127 shares of the firm’s stock in a transaction dated Wednesday, August 26th. The stock was sold at an average price of $9.00, for a total value of $3,448,143.00. Following the sale, the chief executive officer directly owned 4,598,291 shares of the company’s stock, valued at approximately $41,384,619. This trade represents a 7.69% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. In the last quarter, insiders have sold 1,050,937 shares of company stock valued at $8,909,242. Company insiders own 62.40% of the company’s stock.

Institutional Trading of Similarweb

Several institutional investors have recently modified their holdings of SMWB. First Command Advisory Services Inc. bought a new position in shares of Similarweb during the third quarter valued at $35,000. Russell Investments Group Ltd. bought a new position in shares of Similarweb in the third quarter valued at approximately $50,000. Integrated Wealth Concepts LLC acquired a new position in shares of Similarweb in the 2nd quarter worth approximately $92,000. Bank of America Corp DE boosted its holdings in shares of Similarweb by 475.3% in the 1st quarter. Bank of America Corp DE now owns 63,985 shares of the company’s stock worth $167,000 after acquiring an additional 52,863 shares in the last quarter. Finally, State of Wyoming boosted its holdings in shares of Similarweb by 33.6% in the 3rd quarter. State of Wyoming now owns 118,170 shares of the company’s stock worth $917,000 after acquiring an additional 29,712 shares in the last quarter. Institutional investors and hedge funds own 57.59% of the company’s stock.

Similarweb Company Profile

Similarweb Ltd. is a digital intelligence company that helps businesses understand online activity and competition. Its platform collects and analyzes data about website visits, mobile app usage, search behavior and other digital interactions, then presents the information through analytics and benchmarking tools. Similarweb’s products support market research, competitive analysis, digital marketing, sales prospecting and investment research. Customers can use the platform to assess digital audiences and trends, compare performance with competitors, and identify opportunities across online markets.