Similarweb (NYSE:SMWB) Sees Unusually-High Trading Volume

Shares of Similarweb Ltd. (NYSE:SMWB) saw strong trading volume on Monday . 68,341 shares changed hands during trading, a decline of 64% from the previous session’s volume of 187,443 shares.The stock last traded at $8.34 and had previously closed at $8.16.

Analyst Ratings Changes

SMWB has been the subject of several research reports. William Blair reiterated an “outperform” rating on shares of Similarweb in a research note on Monday, September 9th. Northland Securities initiated coverage on shares of Similarweb in a report on Tuesday, September 10th. They set an “outperform” rating and a $15.00 target price for the company. JMP Securities boosted their price target on Similarweb from $14.00 to $16.00 and gave the stock a “market outperform” rating in a research report on Wednesday, August 21st. Barclays raised their price objective on Similarweb from $9.00 to $10.00 and gave the company an “overweight” rating in a research report on Thursday, August 8th. Finally, Northland Capmk raised Similarweb to a “strong-buy” rating in a 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 stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Buy” and a consensus target price of $11.83.

Similarweb Trading Down 0.7 %

The firm has a 50 day simple moving average of $7.82 and a 200 day simple moving average of $7.98. The firm has a market capitalization of $637.07 million, a PE ratio of -32.64 and a beta of 0.85.

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 during 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%. Research analysts forecast that Similarweb Ltd. will post -0.04 earnings per share for the current year.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. ANTIPODES PARTNERS Ltd raised its stake in Similarweb by 122.5% during the 2nd quarter. ANTIPODES PARTNERS Ltd now owns 11,580 shares of the company’s stock valued at $90,000 after buying an additional 6,376 shares during the last quarter. Counterpoint Mutual Funds LLC purchased a new stake in Similarweb during the first quarter valued at $136,000. Blair William & Co. IL lifted its holdings in Similarweb by 20.1% in the first 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. California State Teachers Retirement System boosted 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 purchasing an additional 2,475 shares during the last quarter. Finally, Quadrature Capital Ltd purchased a new stake in shares of Similarweb during the 1st quarter valued at about $311,000. 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.