Similarweb (NYSE:SMWB) Shares Gap Down to $9.42

Similarweb Ltd. (NYSE:SMWB) gapped down prior to trading on Wednesday . The stock had previously closed at $9.42, but opened at $9.22. Similarweb shares last traded at $9.36, with a volume of 43,222 shares changing hands.

Wall Street Analyst Weigh In

Several equities research analysts have recently weighed in on SMWB shares. Cantor Fitzgerald reiterated an “overweight” rating and issued a $10.00 target price on shares of Similarweb in a research note on Wednesday, August 7th. JMP Securities boosted their target price 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. Northland Securities initiated coverage on shares of Similarweb in a report on Tuesday. They set an “outperform” rating and a $15.00 price target for the company. Northland Capmk raised shares of Similarweb to a “strong-buy” rating in a research note on Tuesday. Finally, Barclays upped their price objective on shares of Similarweb from $9.00 to $10.00 and gave the company an “overweight” rating in a research report on Thursday, August 8th. Seven equities research analysts have rated the stock with a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Buy” and a consensus target price of $11.83.

Similarweb Price Performance

The company’s 50-day moving average price is $7.80 and its two-hundred day moving average price is $7.98.

Similarweb (NYSE:SMWB) last announced its quarterly earnings data on Tuesday, August 6th. The company reported ($0.01) earnings per share (EPS) for the quarter, beating the consensus estimate 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 firm had revenue of $60.64 million for the quarter, compared to analysts’ expectations of $60.23 million. On average, equities research analysts forecast that Similarweb Ltd. will post -0.05 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently modified their holdings of SMWB. ANTIPODES PARTNERS Ltd lifted its holdings in Similarweb by 122.5% in the second 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 last quarter. Counterpoint Mutual Funds LLC acquired a new position in Similarweb during the 1st quarter valued at approximately $136,000. Blair William & Co. IL grew its stake in Similarweb by 20.1% during the 1st quarter. Blair William & Co. IL now owns 21,662 shares of the company’s stock worth $195,000 after buying an additional 3,621 shares during the last quarter. California State Teachers Retirement System increased its position in Similarweb by 10.1% in the first quarter. California State Teachers Retirement System now owns 26,892 shares of the company’s stock worth $242,000 after buying an additional 2,475 shares during the period. Finally, Quadrature Capital Ltd bought a new stake in Similarweb in the first quarter valued at $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.