Similarweb (NYSE:SMWB) Trading Down 4.2% – Should You Sell?

Similarweb Ltd. (NYSE:SMWB)’s share price fell 4.2% on Friday . The company traded as low as $16.29 and last traded at $16.29. 200,184 shares were traded during trading, a decline of 68% from the average session volume of 629,131 shares. The stock had previously closed at $17.01.

Analysts Set New Price Targets

SMWB has been the topic of several recent analyst reports. William Blair reiterated an “outperform” rating on shares of Similarweb in a research note on Thursday, December 19th. The Goldman Sachs Group initiated coverage on Similarweb in a research report on Wednesday, December 11th. They issued a “buy” rating and a $16.00 price objective on the stock. JMP Securities restated a “market outperform” rating and set a $17.00 target price on shares of Similarweb in a research report on Wednesday, December 11th. Citigroup raised their price target on Similarweb from $10.00 to $14.00 and gave the company a “buy” rating in a report on Thursday, November 14th. Finally, Northland Securities boosted their price objective on Similarweb from $17.00 to $20.00 and gave the stock an “outperform” rating in a report on Friday, January 24th. Nine analysts have rated the stock with a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has an average rating of “Buy” and an average target price of $13.88.

Similarweb Price Performance

The business has a 50 day moving average of $14.23 and a 200 day moving average of $10.59. The company has a market cap of $1.30 billion, a PE ratio of -146.72 and a beta of 0.97.

Similarweb (NYSE:SMWB) last issued its quarterly earnings results on Tuesday, November 12th. The company reported ($0.03) EPS for the quarter, missing analysts’ consensus estimates of $0.04 by ($0.07). The company had revenue of $64.71 million during the quarter, compared to the consensus estimate of $62.90 million. Similarweb had a negative return on equity of 44.83% and a negative net margin of 3.92%. During the same period in the prior year, the firm earned ($0.05) earnings per share. Sell-side analysts forecast that Similarweb Ltd. will post -0.05 EPS for the current fiscal year.

Institutional Trading of Similarweb

A number of large investors have recently made changes to their positions in the stock. Cubist Systematic Strategies LLC boosted its holdings in shares of Similarweb by 4.4% in the second quarter. Cubist Systematic Strategies LLC now owns 51,272 shares of the company’s stock worth $398,000 after buying an additional 2,138 shares during the last quarter. XTX Topco Ltd boosted its stake in shares of Similarweb by 9.0% during the 3rd quarter. XTX Topco Ltd now owns 53,980 shares of the company’s stock worth $477,000 after acquiring an additional 4,453 shares during the last quarter. Renaissance Technologies LLC grew its position in shares of Similarweb by 4.3% during 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. Public Employees Retirement System of Ohio purchased a new stake in shares of Similarweb in the 3rd quarter worth $70,000. Finally, Heck Capital Advisors LLC bought a new position in Similarweb in the 4th quarter worth $115,000. 57.59% of the stock is currently owned by institutional investors.

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.