Similarweb Ltd. (NYSE:SMWB) Sees Significant Drop in Short Interest

Similarweb Ltd. (NYSE:SMWB - Get Free Report) was the recipient of a large decrease in short interest in the month of March. As of March 15th, there was short interest totalling 620,500 shares, a decrease of 20.9% from the February 28th total of 784,100 shares. Based on an average trading volume of 726,100 shares, the days-to-cover ratio is presently 0.9 days. Approximately 1.5% of the shares of the stock are sold short.

Analysts Set New Price Targets

Several research firms recently weighed in on SMWB. Northland Securities upped their price objective on shares of Similarweb from $17.00 to $20.00 and gave the stock an "outperform" rating in a research report on Friday, January 24th. JMP Securities restated a "market outperform" rating and set a $17.00 target price on shares of Similarweb in a research note on Thursday, February 13th. William Blair reiterated an "outperform" rating on shares of Similarweb in a research note on Thursday, December 19th. The Goldman Sachs Group dropped their price objective on Similarweb from $15.00 to $13.00 and set a "buy" rating for the company in a research report on Friday, March 28th. Finally, Citigroup raised their price objective on Similarweb from $14.00 to $22.00 and gave the company a "buy" rating in a research note on Tuesday, February 11th. Nine research analysts have rated the stock with a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, the stock has a consensus rating of "Buy" and a consensus target price of $16.13.

Similarweb Trading Down 9.2 %

NYSE SMWB traded down $0.70 during trading hours on Friday, hitting $6.91. 357,029 shares of the company's stock were exchanged, compared to its average volume of 376,103. Similarweb has a 1-year low of $5.71 and a 1-year high of $17.64. The stock has a 50-day simple moving average of $11.27 and a 200 day simple moving average of $11.45. The firm has a market cap of $570.90 million, a price-to-earnings ratio of -49.25 and a beta of 1.08.

Similarweb (NYSE:SMWB - Get Free Report) last released its quarterly earnings data on Tuesday, February 11th. The company reported ($0.07) earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $0.03 by ($0.10). Similarweb had a negative return on equity of 47.62% and a negative net margin of 4.58%. On average, sell-side analysts anticipate that Similarweb will post -0.24 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Similarweb

A number of institutional investors have recently modified their holdings of SMWB. Global Retirement Partners LLC acquired a new position in Similarweb during the fourth quarter worth $29,000. New York State Common Retirement Fund acquired a new position in Similarweb during the 4th quarter valued at about $39,000. Public Employees Retirement System of Ohio bought a new stake in Similarweb during the 3rd quarter worth approximately $70,000. KLP Kapitalforvaltning AS bought a new stake in Similarweb during the 4th quarter worth approximately $115,000. Finally, Heck Capital Advisors LLC purchased a new stake in shares of Similarweb in the fourth quarter worth approximately $115,000. 57.59% of the stock is owned by institutional investors and hedge funds.

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.