Short Interest in Similarweb Ltd. (NYSE:SMWB) Decreases By 20.9%

Similarweb Ltd. (NYSE:SMWB - Get Free Report) saw a large decrease in short interest during 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. Currently, 1.5% of the company's shares are short sold.

Analyst Upgrades and Downgrades

SMWB has been the topic of several research analyst reports. The Goldman Sachs Group reduced their price objective on Similarweb from $15.00 to $13.00 and set a "buy" rating on the stock in a research note on Friday, March 28th. JMP Securities reissued a "market outperform" rating and issued a $17.00 target price on shares of Similarweb in a research report on Thursday, February 13th. Northland Securities raised their price objective on Similarweb from $17.00 to $20.00 and gave the stock an "outperform" rating in a research note on Friday, January 24th. William Blair restated an "outperform" rating on shares of Similarweb in a research note on Thursday, December 19th. Finally, Needham & Company LLC restated a "buy" rating and issued a $14.00 target price on shares of Similarweb in a research report on Thursday, February 13th. Nine investment 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, Similarweb has an average rating of "Buy" and a consensus price target of $16.13.

Similarweb Stock Down 7.5 %

Shares of NYSE:SMWB traded down $0.62 during trading on Thursday, reaching $7.61. 477,661 shares of the company traded hands, compared to its average volume of 706,071. Similarweb has a 1-year low of $5.71 and a 1-year high of $17.64. The firm has a fifty day simple moving average of $11.43 and a 200 day simple moving average of $11.47. The firm has a market cap of $628.73 million, a P/E ratio of -54.35 and a beta of 1.08.

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Similarweb (NYSE:SMWB - Get Free Report) last posted its quarterly earnings results on Tuesday, February 11th. The company reported ($0.07) earnings per share 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%. As a group, research analysts anticipate that Similarweb will post -0.24 EPS for the current year.

Institutional Investors Weigh In On Similarweb

Several institutional investors and hedge funds have recently modified their holdings of SMWB. Global Retirement Partners LLC bought a new position in shares of Similarweb in the 4th quarter valued at approximately $29,000. New York State Common Retirement Fund bought a new stake in shares of Similarweb during the 4th quarter worth $39,000. Public Employees Retirement System of Ohio acquired a new position in Similarweb during the 3rd quarter worth $70,000. Quantbot Technologies LP bought a new stake in Similarweb during the third quarter valued at about $75,000. Finally, Heck Capital Advisors LLC bought a new position in shares of Similarweb in the fourth quarter worth about $115,000. Institutional investors and hedge funds own 57.59% of the company's stock.

Similarweb Company Profile

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.