Similarweb (NYSE:SMWB) Sees Large Volume Increase

Similarweb Ltd. (NYSE:SMWB) shares saw unusually-strong trading volume on Monday . Approximately 68,341 shares traded hands during mid-day trading, a decline of 64% from the previous session’s volume of 187,443 shares.The stock last traded at $8.34 and had previously closed at $8.16.

Analyst Ratings Changes

A number of equities research analysts have recently commented on the stock. Northland Securities initiated coverage on shares of Similarweb in a report on Tuesday, September 10th. They issued an “outperform” rating and a $15.00 target price for the company. JMP Securities increased their price objective on Similarweb from $14.00 to $16.00 and gave the stock a “market outperform” rating in a research report on Wednesday, August 21st. Northland Capmk raised Similarweb to a “strong-buy” rating in a report on Tuesday, September 10th. William Blair restated an “outperform” rating on shares of Similarweb in a research note on Monday, September 9th. Finally, Cantor Fitzgerald reiterated an “overweight” rating and issued a $10.00 price objective on shares of Similarweb in a research report on Wednesday, August 7th. 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 a consensus rating of “Buy” and an average target price of $11.83.

Similarweb Stock Performance

The firm has a market capitalization of $659.09 million, a price-to-earnings ratio of -33.64 and a beta of 0.85. The firm has a fifty day moving average price of $7.87 and a 200 day moving average price of $7.97.

Similarweb (NYSE:SMWB) last released its earnings results on Tuesday, August 6th. The company reported ($0.01) EPS for the quarter, beating analysts’ consensus estimates of ($0.05) by $0.04. Similarweb had a negative return on equity of 60.53% and a negative net margin of 5.07%. The company had revenue of $60.64 million during the quarter, compared to the consensus estimate of $60.23 million. Research analysts predict that Similarweb Ltd. will post -0.04 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. ANTIPODES PARTNERS Ltd lifted its position in shares of Similarweb by 122.5% during the 2nd quarter. ANTIPODES PARTNERS Ltd now owns 11,580 shares of the company’s stock valued at $90,000 after acquiring an additional 6,376 shares during the period. Counterpoint Mutual Funds LLC purchased a new position in Similarweb in the 1st quarter valued at approximately $136,000. Blair William & Co. IL raised its holdings in Similarweb by 20.1% during the first quarter. Blair William & Co. IL now owns 21,662 shares of the company’s stock worth $195,000 after purchasing an additional 3,621 shares during the last quarter. California State Teachers Retirement System boosted its position in Similarweb by 10.1% during the first quarter. California State Teachers Retirement System now owns 26,892 shares of the company’s stock worth $242,000 after purchasing an additional 2,475 shares in the last quarter. Finally, Quadrature Capital Ltd purchased a new stake in Similarweb during the first quarter worth $311,000. 57.59% of the stock is currently owned by institutional investors and hedge funds.

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.