Similarweb (NYSE:SMWB) Stock Price Down 14.7%

Similarweb Ltd. (NYSE:SMWB) shares traded down 14.7% on Friday . The stock traded as low as $8.06 and last traded at $8.16. 421,423 shares changed hands during trading, an increase of 135% from the average session volume of 179,585 shares. The stock had previously closed at $9.57.

Analyst Upgrades and Downgrades

Several brokerages recently issued reports on SMWB. Northland Securities began coverage on shares of Similarweb in a report on Tuesday, September 10th. They issued an “outperform” rating and a $15.00 target price on the stock. Northland Capmk raised Similarweb to a “strong-buy” rating in a report on Tuesday, September 10th. JMP Securities increased their target price on Similarweb from $14.00 to $16.00 and gave the company a “market outperform” rating in a report on Wednesday, August 21st. William Blair restated an “outperform” rating on shares of Similarweb in a research note on Monday, September 9th. Finally, Cantor Fitzgerald reaffirmed an “overweight” rating and set a $10.00 price target on shares of Similarweb in a research report on Wednesday, August 7th. Seven equities research analysts have rated the stock with a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat.com, the company presently has an average rating of “Buy” and an average target price of $11.83.

Similarweb Trading Down 14.7 %

The stock has a 50 day moving average of $7.82 and a 200-day moving average of $7.98. The company has a market capitalization of $641.78 million, a P/E ratio of -32.64 and a beta of 0.85.

Similarweb (NYSE:SMWB) last posted its quarterly 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 during 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%. As a group, sell-side analysts expect that Similarweb Ltd. will post -0.05 EPS for the current fiscal year.

Hedge Funds Weigh In On Similarweb

Large investors have recently made changes to their positions in the business. ANTIPODES PARTNERS Ltd raised its stake in 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 purchasing an additional 6,376 shares during the period. Counterpoint Mutual Funds LLC purchased a new position in shares of Similarweb in the first quarter worth $136,000. Blair William & Co. IL boosted its position in shares of 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 acquiring an additional 3,621 shares during the last quarter. California State Teachers Retirement System grew its stake in Similarweb by 10.1% during the first quarter. California State Teachers Retirement System now owns 26,892 shares of the company’s stock valued at $242,000 after acquiring an additional 2,475 shares in the last quarter. Finally, Quadrature Capital Ltd bought a new stake in Similarweb in the 1st quarter valued at $311,000. 57.59% of the stock is currently owned by hedge funds and other institutional investors.

About Similarweb

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.