Similarweb Ltd. (NYSE:SMWB) Expected to Post Q3 2024 Earnings of ($0.02) Per Share

Similarweb Ltd. (NYSE:SMWB) – Equities researchers at Northland Capmk issued their Q3 2024 earnings per share (EPS) estimates for shares of Similarweb in a report released on Tuesday, September 10th. Northland Capmk analyst L. Horton expects that the company will post earnings per share of ($0.02) for the quarter. Northland Capmk has a “Strong-Buy” rating on the stock. The consensus estimate for Similarweb’s current full-year earnings is ($0.05) per share. Northland Capmk also issued estimates for Similarweb’s Q4 2024 earnings at ($0.02) EPS, FY2024 earnings at ($0.04) EPS, Q1 2025 earnings at $0.00 EPS, Q2 2025 earnings at $0.01 EPS, Q3 2025 earnings at $0.02 EPS, Q4 2025 earnings at $0.03 EPS and FY2025 earnings at $0.07 EPS.

SMWB has been the subject of several other reports. Barclays increased their price target on shares of Similarweb from $9.00 to $10.00 and gave the stock an “overweight” rating in a report on Thursday, August 8th. JMP Securities upped their target price on shares of Similarweb from $14.00 to $16.00 and gave the stock a “market outperform” rating in a research report on Wednesday, August 21st. Cantor Fitzgerald restated an “overweight” rating and set a $10.00 target price on shares of Similarweb in a research report on Wednesday, August 7th. Northland Securities initiated coverage on shares of Similarweb in a research note on Tuesday, September 10th. They set an “outperform” rating and a $15.00 price target on the stock. Finally, William Blair reissued an “outperform” rating on shares of Similarweb in a research note on Monday, September 9th. Seven investment analysts have rated the stock with a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat, Similarweb currently has an average rating of “Buy” and an average target price of $11.83.

Similarweb Trading Down 14.7 %

Shares of SMWB stock opened at $8.16 on Friday. The firm has a fifty day moving average price of $7.82 and a 200 day moving average price of $7.98. The company has a market cap of $641.78 million, a P/E ratio of -32.64 and a beta of 0.85. Similarweb has a 12 month low of $4.58 and a 12 month high of $9.76.

Similarweb (NYSE:SMWB) last released its earnings results on Tuesday, August 6th. The company reported ($0.01) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.05) by $0.04. The business had revenue of $60.64 million for the quarter, compared to analyst estimates of $60.23 million. Similarweb had a negative net margin of 5.07% and a negative return on equity of 60.53%.

Institutional Investors Weigh In On Similarweb

Several institutional investors have recently modified their holdings of the business. Cubist Systematic Strategies LLC raised its holdings in shares of Similarweb by 4.4% in the second quarter. Cubist Systematic Strategies LLC now owns 51,272 shares of the company’s stock valued at $398,000 after purchasing an additional 2,138 shares during the last quarter. California State Teachers Retirement System raised its holdings in shares of Similarweb by 10.1% in the first quarter. California State Teachers Retirement System now owns 26,892 shares of the company’s stock valued at $242,000 after purchasing an additional 2,475 shares during the last quarter. Blair William & Co. IL raised its holdings in shares of Similarweb by 20.1% in the first quarter. Blair William & Co. IL now owns 21,662 shares of the company’s stock valued at $195,000 after purchasing an additional 3,621 shares during the last quarter. Legato Capital Management LLC increased its holdings in Similarweb by 4.5% during the second quarter. Legato Capital Management LLC now owns 102,987 shares of the company’s stock worth $800,000 after buying an additional 4,455 shares during the last quarter. Finally, Renaissance Technologies LLC increased its holdings in Similarweb by 4.3% during the second quarter. Renaissance Technologies LLC now owns 110,600 shares of the company’s stock worth $859,000 after buying an additional 4,599 shares during the last quarter. Institutional investors and hedge funds own 57.59% of the company’s stock.

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.