Similarweb Ltd. (NYSE:SMWB) Sees Large Drop in Short Interest

Similarweb Ltd. (NYSE:SMWB) saw a large decrease in short interest during the month of August. As of August 31st, there was short interest totalling 81,100 shares, a decrease of 19.4% from the August 15th total of 100,600 shares. Based on an average daily volume of 186,900 shares, the short-interest ratio is presently 0.4 days. Currently, 0.2% of the company’s stock are short sold.

Analyst Upgrades and Downgrades

Several equities research analysts have recently issued reports on the company. JMP Securities lifted their price target on Similarweb from $14.00 to $16.00 and gave the company a “market outperform” rating in a report on Wednesday, August 21st. Northland Securities initiated coverage on shares of Similarweb in a research note on Tuesday, September 10th. They issued an “outperform” rating and a $15.00 target price for the company. William Blair restated an “outperform” rating on shares of Similarweb in a research note on Monday, September 9th. Barclays lifted their price objective on shares of Similarweb from $9.00 to $10.00 and gave the company an “overweight” rating in a research note on Thursday, August 8th. Finally, Northland Capmk raised shares of Similarweb to a “strong-buy” rating in a research report on Tuesday, September 10th. Seven analysts have rated the stock with a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of “Buy” and a consensus price target of $11.83.

Similarweb Stock Down 14.7 %

Shares of NYSE SMWB opened at $8.16 on Friday. Similarweb has a 12 month low of $4.58 and a 12 month high of $9.76. The company has a market cap of $641.78 million, a P/E ratio of -32.64 and a beta of 0.85. The business’s 50 day moving average is $7.82 and its two-hundred day moving average is $7.98.

Similarweb (NYSE:SMWB) last released its earnings results on Tuesday, August 6th. The company reported ($0.01) EPS for the quarter, beating the consensus estimate of ($0.05) by $0.04. The firm had revenue of $60.64 million during the quarter, compared to analysts’ expectations of $60.23 million. Similarweb had a negative net margin of 5.07% and a negative return on equity of 60.53%. Sell-side analysts expect that Similarweb will post -0.05 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Similarweb

A number of institutional investors have recently added to or reduced their stakes in the company. ANTIPODES PARTNERS Ltd lifted its position in shares of Similarweb by 122.5% in the 2nd quarter. ANTIPODES PARTNERS Ltd now owns 11,580 shares of the company’s stock worth $90,000 after acquiring an additional 6,376 shares during the period. Counterpoint Mutual Funds LLC acquired a new position in shares of Similarweb in the 1st quarter valued at $136,000. Blair William & Co. IL raised its stake in shares of 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 buying an additional 3,621 shares in the last quarter. California State Teachers Retirement System lifted its holdings in shares of Similarweb by 10.1% during the 1st quarter. California State Teachers Retirement System now owns 26,892 shares of the company’s stock worth $242,000 after acquiring an additional 2,475 shares during the period. Finally, Quadrature Capital Ltd bought a new stake in Similarweb in the first quarter valued at about $311,000. 57.59% of the stock is owned by institutional investors and hedge funds.

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.