Similarweb’s (SMWB) Overweight Rating Reaffirmed at Cantor Fitzgerald

Similarweb (NYSE:SMWB)‘s stock had its “overweight” rating reaffirmed by Cantor Fitzgerald in a research report issued to clients and investors on Wednesday, Benzinga reports. They currently have a $10.00 price target on the stock. Cantor Fitzgerald’s price target points to a potential upside of 35.87% from the stock’s previous close.

Similarweb Price Performance

Shares of NYSE:SMWB traded up $1.07 during trading on Wednesday, hitting $7.36. The company had a trading volume of 207,440 shares, compared to its average volume of 161,496. The stock has a market cap of $578.86 million, a price-to-earnings ratio of -29.44 and a beta of 0.76. The company has a fifty day simple moving average of $7.21 and a two-hundred day simple moving average of $7.65. Similarweb has a one year low of $4.58 and a one year high of $9.76.

Similarweb (NYSE:SMWB) last issued its quarterly earnings results on Tuesday, May 7th. The company reported ($0.03) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.06) by $0.03. Similarweb had a negative return on equity of 129.91% and a negative net margin of 9.04%. The company had revenue of $58.98 million during the quarter, compared to the consensus estimate of $58.77 million. On average, equities research analysts anticipate that Similarweb will post -0.15 earnings per share for the current year.

Institutional Inflows and Outflows

Institutional investors have recently added to or reduced their stakes in the stock. Acadian Asset Management LLC increased its position in shares of Similarweb by 60.8% during the second quarter. Acadian Asset Management LLC now owns 442,917 shares of the company’s stock worth $3,427,000 after acquiring an additional 167,500 shares during the period. Russell Investments Group Ltd. bought a new stake in Similarweb during the 1st quarter valued at $2,820,000. Roubaix Capital LLC purchased a new stake in shares of Similarweb in the 1st quarter worth $2,449,000. Essex Investment Management Co. LLC bought a new position in shares of Similarweb during the 1st quarter worth $2,344,000. Finally, Ceera Investments LLC increased its stake in shares of Similarweb by 38.3% during the second quarter. Ceera Investments LLC now owns 259,827 shares of the company’s stock valued at $2,019,000 after buying an additional 71,994 shares during the period. Hedge funds and other institutional investors own 57.59% of the company’s stock.

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.