Similarweb (NYSE:SMWB) Upgraded to “Strong-Buy” at Northland Capmk

Northland Capmk upgraded shares of Similarweb (NYSE:SMWB) to a strong-buy rating in a report issued on Tuesday, Zacks.com reports. Northland Capmk also issued estimates for Similarweb’s Q3 2024 earnings at ($0.02) EPS, 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.

Several other equities research analysts also recently issued reports on SMWB. JMP Securities increased their price objective on shares of Similarweb from $14.00 to $16.00 and gave the stock a market outperform rating in a research report on Wednesday, August 21st. William Blair reiterated an outperform rating on shares of Similarweb in a report on Monday, September 9th. Cantor Fitzgerald restated an overweight rating and issued a $10.00 price target on shares of Similarweb in a report on Wednesday, August 7th. Barclays upped their price objective on Similarweb from $9.00 to $10.00 and gave the stock an overweight rating in a research report on Thursday, August 8th. Finally, Northland Securities assumed coverage on Similarweb in a research report on Tuesday. They issued an outperform rating and a $15.00 target price on the stock. Seven investment analysts have rated the stock with a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of Buy and an average price target of $11.83.

Similarweb Trading Down 14.7 %

SMWB stock opened at $8.16 on Tuesday. Similarweb has a 1-year low of $4.58 and a 1-year high of $9.76. The firm has a market cap of $641.78 million, a PE ratio of -32.64 and a beta of 0.85. The business’s 50-day moving average price is $7.82 and its two-hundred day moving average price is $7.98.

Similarweb (NYSE:SMWB) last released its quarterly earnings results on Tuesday, August 6th. The company reported ($0.01) EPS for the quarter, topping 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 for the quarter, compared to analyst estimates of $60.23 million. On average, analysts forecast that Similarweb will post -0.05 earnings per share for the current year.

Institutional Trading of Similarweb

Several institutional investors and hedge funds have recently bought and sold shares of SMWB. ANTIPODES PARTNERS Ltd lifted its stake in Similarweb by 122.5% in the second 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 last quarter. Counterpoint Mutual Funds LLC bought a new stake in shares of Similarweb in the 1st quarter valued at about $136,000. Blair William & Co. IL lifted its stake in Similarweb by 20.1% in the 1st quarter. Blair William & Co. IL now owns 21,662 shares of the company’s stock valued at $195,000 after purchasing an additional 3,621 shares during the last quarter. California State Teachers Retirement System grew its holdings 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 during the period. Finally, Quadrature Capital Ltd acquired a new position in Similarweb during the first quarter worth approximately $311,000. Institutional investors own 57.59% of the company’s stock.

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.