Similarweb Ltd. (NYSE:SMWB) Short Interest Update

Similarweb Ltd. (NYSE:SMWB) saw a significant increase in short interest during the month of August. As of August 15th, there was short interest totalling 100,600 shares, an increase of 64.4% from the July 31st total of 61,200 shares. Based on an average daily trading volume, of 156,600 shares, the short-interest ratio is currently 0.6 days. Approximately 0.3% of the shares of the stock are short sold.

Wall Street Analyst Weigh In

SMWB has been the subject of several analyst reports. Barclays raised their price objective on Similarweb from $9.00 to $10.00 and gave the company an “overweight” rating in a research note on Thursday, August 8th. JMP Securities raised their price objective on Similarweb from $14.00 to $16.00 and gave the company a “market outperform” rating in a research note on Wednesday, August 21st. Finally, Cantor Fitzgerald reaffirmed an “overweight” rating and issued a $10.00 price objective on shares of Similarweb in a research note on Wednesday, August 7th. Six investment analysts have rated the stock with a buy rating, According to MarketBeat, the company currently has a consensus rating of “Buy” and an average price target of $11.20.

Institutional Inflows and Outflows

Institutional investors have recently bought and sold shares of the company. Cubist Systematic Strategies LLC increased its holdings in shares of Similarweb by 4.4% in the 2nd quarter. Cubist Systematic Strategies LLC now owns 51,272 shares of the company’s stock valued at $398,000 after acquiring an additional 2,138 shares during the period. California State Teachers Retirement System increased its holdings in shares of Similarweb by 10.1% in the 1st quarter. California State Teachers Retirement System now owns 26,892 shares of the company’s stock valued at $242,000 after acquiring an additional 2,475 shares during the period. Blair William & Co. IL increased its holdings 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 acquiring an additional 3,621 shares during the period. Legato Capital Management LLC increased its holdings in shares of Similarweb by 4.5% in the 2nd quarter. Legato Capital Management LLC now owns 102,987 shares of the company’s stock valued at $800,000 after acquiring an additional 4,455 shares during the period. Finally, Renaissance Technologies LLC increased its holdings in shares of Similarweb by 4.3% in the 2nd quarter. Renaissance Technologies LLC now owns 110,600 shares of the company’s stock valued at $859,000 after acquiring an additional 4,599 shares during the period. 57.59% of the stock is currently owned by hedge funds and other institutional investors.

Similarweb Price Performance

Shares of SMWB stock traded down $0.03 on Friday, reaching $9.43. 333,416 shares of the company’s stock were exchanged, compared to its average volume of 176,426. Similarweb has a 52 week low of $4.58 and a 52 week high of $9.76. The company’s fifty day simple moving average is $7.46 and its 200 day simple moving average is $7.88.

Similarweb (NYSE:SMWB) last released its quarterly earnings data on Tuesday, August 6th. The company reported ($0.01) EPS for the quarter, topping the consensus estimate of ($0.05) by $0.04. The company had revenue of $60.64 million for the quarter, compared to the consensus estimate of $60.23 million. Similarweb had a negative return on equity of 60.53% and a negative net margin of 5.07%. As a group, sell-side analysts predict that Similarweb will post -0.05 earnings per share for the current year.

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.