Research Analysts Issue Forecasts for Similarweb Ltd.’s Q3 2024 Earnings (NYSE:SMWB)

Similarweb Ltd. (NYSE:SMWB) – Northland Capmk issued their Q3 2024 earnings per share estimates for Similarweb in a note issued to investors on Tuesday, September 10th. Northland Capmk analyst L. Horton expects that the company will earn ($0.02) per share for the quarter. Northland Capmk currently 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.

Similarweb (NYSE:SMWB) last posted its earnings results on Tuesday, August 6th. The company reported ($0.01) EPS for the quarter, beating the consensus estimate of ($0.05) by $0.04. The company had revenue of $60.64 million for the quarter, compared to the consensus estimate of $60.23 million. Similarweb had a negative return on equity of 60.53% and a negative net margin of 5.07%.

Other equities research analysts also recently issued research reports about the company. Barclays increased their price target on Similarweb from $9.00 to $10.00 and gave the stock an “overweight” rating in a research report on Thursday, August 8th. Cantor Fitzgerald reissued an “overweight” rating and set a $10.00 price target on shares of Similarweb in a research report on Wednesday, August 7th. JMP Securities increased their price target 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 Securities started coverage on Similarweb in a research report on Tuesday. They set an “outperform” rating and a $15.00 price target on the stock. Finally, William Blair reaffirmed an “outperform” rating on shares of Similarweb in a report on Monday, September 9th. Seven analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, the company has an average rating of “Buy” and an average price target of $11.83.

Similarweb Price Performance

Shares of NYSE:SMWB opened at $8.16 on Friday. The company has a market capitalization of $641.78 million, a P/E ratio of -32.64 and a beta of 0.85. Similarweb has a 1 year low of $4.58 and a 1 year high of $9.76. The business’s 50 day simple moving average is $7.82 and its 200 day simple moving average is $7.98.

Institutional Inflows and Outflows

A number of large investors have recently modified their holdings of SMWB. Circumference Group LLC bought a new position in shares of Similarweb in the 4th quarter valued at $725,000. Scalar Gauge Management LLC bought a new position in shares of Similarweb in the 4th quarter valued at $1,188,000. Counterpoint Mutual Funds LLC bought a new position in shares of Similarweb in the 1st quarter valued at $136,000. Essex Investment Management Co. LLC bought a new position in shares of Similarweb in the 1st quarter valued at $2,344,000. Finally, Oppenheimer & Co. Inc. bought a new position in shares of Similarweb in the 1st quarter valued at $654,000. 57.59% of the stock is currently owned by institutional investors.

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.