Similarweb (NYSE:SMWB) Sees Strong Trading Volume

Similarweb Ltd. (NYSE:SMWB – Get Rating) saw strong trading volume on Wednesday . 15,468 shares were traded during trading, a decline of 86% from the previous session’s volume of 113,553 shares.The stock last traded at $8.90 and had previously closed at $8.91.

Several analysts have issued reports on the stock. Zacks Investment Research lowered shares of Similarweb from a “hold” rating to a “sell” rating in a research report on Wednesday. Barclays upgraded shares of Similarweb from an “equal weight” rating to an “overweight” rating and set a $22.00 price target for the company in a research report on Wednesday, February 23rd. Finally, Citigroup cut their price target on shares of Similarweb from $32.00 to $23.00 in a research report on Friday, February 11th. One analyst has rated the stock with a sell rating and eight have issued a buy rating to the company’s stock. According to MarketBeat, Similarweb currently has an average rating of “Buy” and an average target price of $26.57.

The firm’s 50 day moving average price is $12.95.

Similarweb (NYSE:SMWB – Get Rating) last released its quarterly earnings results on Wednesday, February 16th. The company reported ($0.32) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.28) by ($0.04). Similarweb had a negative return on equity of 178.53% and a negative net margin of 50.10%. The company had revenue of $40.15 million during the quarter, compared to the consensus estimate of $37.74 million. As a group, sell-side analysts predict that Similarweb Ltd. will post -1.1 EPS for the current fiscal year.

A number of hedge funds have recently added to or reduced their stakes in SMWB. Harel Insurance Investments & Financial Services Ltd. bought a new position in Similarweb in the fourth quarter worth about $65,000. Canada Pension Plan Investment Board bought a new position in Similarweb in the fourth quarter worth about $81,000. JPMorgan Chase & Co. raised its stake in Similarweb by 2,440.3% in the fourth quarter. JPMorgan Chase & Co. now owns 7,621 shares of the company’s stock worth $136,000 after buying an additional 7,321 shares in the last quarter. Morgan Stanley bought a new position in Similarweb in the second quarter worth about $175,000. Finally, Chicago Capital LLC bought a new position in Similarweb in the fourth quarter worth about $194,000. 42.87% of the stock is owned by institutional investors.

Similarweb Company Profile (NYSE:SMWB)

Similarweb Ltd. provides a platform for digital intelligence in the United States, Europe, Asia Pacific, the United Kingdom, Israel, and internationally. It offers digital research intelligence solutions that allow senior leaders, strategy, business intelligence, and consumer insights teams 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 solutions, which enable marketing leaders, search engine optimization, and content managers, pay-per-click, performance marketers, affiliate marketers, and media buyers to understand their competitors' online acquisition strategies in each marketing channel.

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