Similarweb (NYSE:SMWB) Stock Price Down 4.7% – What’s Next?

Similarweb Ltd. (NYSE:SMWB) fell 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 changed 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.

Analysts Set New Price Targets

Several research firms have issued reports on SMWB. Needham & Company LLC restated a “buy” rating and set a $14.00 target price on shares of Similarweb in a research report on Thursday. Citigroup raised their target price on Similarweb from $14.00 to $22.00 and gave the stock a “buy” rating in a research note on Tuesday. JMP Securities reaffirmed a “market outperform” rating and set a $17.00 price objective on shares of Similarweb in a research note on Thursday. William Blair restated an “outperform” rating on shares of Similarweb in a research report on Thursday, December 19th. Finally, Jefferies Financial Group upped their target price on shares of Similarweb from $13.00 to $23.00 and gave the stock a “buy” rating in a research report on Monday, February 3rd. Nine research analysts have rated the stock with a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat, the company has a consensus rating of “Buy” and a consensus price target of $16.50.

Similarweb Stock Up 2.2 %

The business has a fifty day simple moving average of $14.83 and a 200-day simple moving average of $11.24. The firm has a market cap of $875.96 million, a P/E ratio of -98.41 and a beta of 0.99.

Similarweb (NYSE:SMWB) last released its quarterly earnings data 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, sell-side analysts anticipate that Similarweb Ltd. will post -0.05 EPS for the current fiscal year.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Global Retirement Partners LLC purchased a new stake in Similarweb during the 4th quarter valued at $29,000. New York State Common Retirement Fund purchased a new stake in Similarweb during the fourth quarter valued at $39,000. Public Employees Retirement System of Ohio bought a new position in Similarweb in the third quarter valued at about $70,000. Quantbot Technologies LP purchased a new position in Similarweb in the third quarter worth about $75,000. Finally, Heck Capital Advisors LLC bought a new stake in shares of Similarweb during the 4th quarter valued at about $115,000. 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.