Similarweb (NYSE:SMWB) Raised to “Hold” at Zacks Investment Research

Zacks Investment Research upgraded shares of Similarweb (NYSE:SMWBGet Rating) from a sell rating to a hold rating in a research note issued to investors on Wednesday morning, Zacks.com reports.

According to Zacks, “Similarweb Ltd. is a website which provides web analytics services for businesses. Similarweb Ltd. is based in Israel. “

A number of other equities analysts also recently issued reports on SMWB. Jefferies Financial Group increased their price objective on shares of Similarweb from $20.00 to $22.00 and gave the company a buy rating in a research note on Thursday, January 6th. Barclays upgraded shares of Similarweb from an equal weight rating to an overweight rating and set a $22.00 target price for the company in a research note on Wednesday, February 23rd. Finally, Citigroup lowered their target price on shares of Similarweb from $32.00 to $23.00 in a research note on Friday, February 11th. One analyst has rated the stock with a hold rating and eight have issued a buy rating to the company. Based on data from MarketBeat, the company has a consensus rating of Buy and a consensus target price of $26.57.

NYSE SMWB opened at $13.13 on Wednesday. The firm’s 50 day moving average price is $13.27 and its 200-day moving average price is $15.90. Similarweb has a 52-week low of $11.50 and a 52-week high of $25.50.

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

Hedge funds and other institutional investors have recently bought and sold shares of the business. Harel Insurance Investments & Financial Services Ltd. purchased a new position in shares of Similarweb in the fourth quarter worth $65,000. Canada Pension Plan Investment Board purchased a new position in shares of Similarweb in the fourth quarter worth $81,000. JPMorgan Chase & Co. raised its holdings in shares of Similarweb by 2,440.3% in the fourth quarter. JPMorgan Chase & Co. now owns 7,621 shares of the company’s stock worth $136,000 after buying an additional 7,321 shares during the last quarter. Morgan Stanley purchased a new position in shares of Similarweb in the second quarter worth $175,000. Finally, Chicago Capital LLC purchased a new position in shares of Similarweb in the fourth quarter worth $194,000. 26.70% of the stock is owned by institutional investors and hedge funds.

Similarweb Company Profile (Get Rating)

Similarweb Ltd. provides a platform for digital intelligence in the United States, Europe, Asia Pacific, the United Kingdom, Israel, and internationally. 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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