Similarweb (NYSE:SMWB) Stock Price Down 4.7% – Time to Sell?

Similarweb Ltd. (NYSE:SMWB) traded down 4.7% during mid-day trading on Thursday . The stock traded as low as $11.34 and last traded at $11.31. 184,114 shares traded hands during mid-day trading, a decline of 78% from the average session volume of 846,986 shares. The stock had previously closed at $11.87.

Wall Street Analysts Forecast Growth

SMWB has been the topic of several analyst reports. Jefferies Financial Group raised their target price on Similarweb from $13.00 to $23.00 and gave the company a “buy” rating in a research report on Monday, February 3rd. Needham & Company LLC reissued a “buy” rating and issued a $14.00 target price on shares of Similarweb in a report on Thursday. William Blair restated an “outperform” rating on shares of Similarweb in a research report on Thursday, December 19th. The Goldman Sachs Group started coverage on shares of Similarweb in a research note on Wednesday, December 11th. They set a “buy” rating and a $16.00 price objective for the company. Finally, Citigroup raised their target price on shares of Similarweb from $14.00 to $22.00 and gave the company a “buy” rating in a research report on Tuesday. Nine investment analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, Similarweb presently has an average rating of “Buy” and a consensus price target of $16.50.

Similarweb Stock Down 9.9 %

The company has a market cap of $865.44 million, a P/E ratio of -96.91 and a beta of 0.99. The company has a 50 day moving average price of $14.92 and a 200-day moving average price of $11.21.

Similarweb (NYSE:SMWB) last posted its earnings results on Tuesday, February 11th. The company reported ($0.07) EPS for the quarter, missing the consensus estimate of $0.03 by ($0.10). Similarweb had a negative return on equity of 44.83% and a negative net margin of 3.92%. On average, research analysts expect that Similarweb Ltd. will post -0.05 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Large investors have recently modified their holdings of the company. Global Retirement Partners LLC bought a new stake in Similarweb during the 4th quarter valued at $29,000. New York State Common Retirement Fund purchased a new stake in shares of Similarweb during the fourth quarter worth about $39,000. Public Employees Retirement System of Ohio purchased a new stake in shares of Similarweb during the third quarter worth about $70,000. Quantbot Technologies LP bought a new position in Similarweb in the third quarter worth about $75,000. Finally, Heck Capital Advisors LLC bought a new position in Similarweb in the fourth quarter worth about $115,000. 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.