Similarweb (NYSE:SMWB) Sees Large Volume Increase

Shares of Similarweb Ltd. (NYSE:SMWBGet Rating) saw an uptick in trading volume on Tuesday . 2,561 shares traded hands during mid-day trading, a decline of 98% from the previous session’s volume of 119,656 shares.The stock last traded at $13.19 and had previously closed at $13.10.

A number of analysts recently weighed in on the stock. Citigroup decreased their target price on shares of Similarweb from $32.00 to $23.00 in a report on Friday, February 11th. Barclays raised shares of Similarweb from an “equal weight” rating to an “overweight” rating and set a $22.00 price target on the stock in a report on Wednesday, February 23rd. Jefferies Financial Group lifted their price objective on shares of Similarweb from $20.00 to $22.00 and gave the stock a “buy” rating in a report on Thursday, January 6th. Finally, Zacks Investment Research upgraded shares of Similarweb from a “sell” rating to a “hold” rating in a research report on Tuesday, April 12th. One analyst has rated the stock with a hold rating and eight have given a buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Buy” and a consensus price target of $26.57.

The business has a fifty day moving average of $13.33.

Similarweb (NYSE:SMWBGet Rating) last issued its quarterly earnings results on Wednesday, February 16th. The company reported ($0.32) earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.28) by ($0.04). The business had revenue of $40.15 million for the quarter, compared to analysts’ expectations of $37.74 million. Similarweb had a negative return on equity of 178.53% and a negative net margin of 50.10%. On average, analysts forecast that Similarweb Ltd. will post -1.1 earnings per share for the current year.

Several institutional investors and hedge funds have recently bought and sold shares of the business. Naspers Ltd. bought a new position in shares of Similarweb in the fourth quarter worth about $200,113,000. Ulysses Management LLC bought a new stake in shares of Similarweb during the fourth quarter valued at approximately $26,477,000. Migdal Insurance & Financial Holdings Ltd. boosted its position in shares of Similarweb by 88.2% during the fourth quarter. Migdal Insurance & Financial Holdings Ltd. now owns 1,684,653 shares of the company’s stock worth $30,172,000 after acquiring an additional 789,723 shares during the last quarter. Macquarie Group Ltd. boosted its holdings in shares of Similarweb by 176.8% during the 3rd quarter. Macquarie Group Ltd. now owns 609,534 shares of the company’s stock valued at $12,757,000 after purchasing an additional 389,301 shares during the last quarter. Finally, Meitav Dash Investments Ltd. purchased a new position in shares of Similarweb during the fourth quarter valued at about $5,788,000. Institutional investors and hedge funds own 26.70% of the company’s stock.

About Similarweb (NYSE:SMWB)

Similarweb Ltd. provides website traffic solutions through AI-driven data analytics worldwide. It offers digital research intelligence solutions that allow senior leaders, strategy, business intelligence, and consumer insights teams 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 solutions, which enable marketing leaders, search engine optimization, and content managers, pay-per-click, performance marketers, affiliate marketers, and media buyers to understand their competitors' online acquisition strategies in each marketing channel.

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