Similarweb (NYSE:SMWB) Stock Price Down 4.7% - Here's What Happened

Similarweb Ltd. (NYSE:SMWB - Get Free Report) traded down 4.7% on Thursday . The company traded as low as $11.34 and last traded at $11.31. 184,114 shares traded hands during trading, a decline of 78% from the average session volume of 846,986 shares. The stock had previously closed at $11.87.

Analyst Ratings Changes

Several research analysts have recently commented on the company. William Blair reiterated an "outperform" rating on shares of Similarweb in a research note on Thursday, December 19th. JMP Securities reiterated a "market outperform" rating and issued a $17.00 price objective on shares of Similarweb in a report on Thursday. The Goldman Sachs Group assumed coverage on shares of Similarweb in a research note on Wednesday, December 11th. They set a "buy" rating and a $16.00 target price for the company. Needham & Company LLC reiterated a "buy" rating and issued a $14.00 price target on shares of Similarweb in a research note on Thursday. Finally, Northland Securities raised 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. Nine equities research analysts have rated the stock with a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, the company has an average rating of "Buy" and a consensus target price of $16.50.

Similarweb Stock Up 2.2 %

The company has a market capitalization of $875.96 million, a P/E ratio of -98.41 and a beta of 0.99. The company's fifty day moving average price is $14.83 and its 200 day moving average price is $11.31.

Similarweb (NYSE:SMWB - Get Free Report) last released its 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 net margin of 3.92% and a negative return on equity of 44.83%. Research analysts predict that Similarweb Ltd. will post -0.05 earnings per share for the current fiscal year.

Institutional Trading of Similarweb

Several large investors have recently made changes to their positions in the company. Meitav Investment House Ltd. lifted its stake in Similarweb by 17.0% during the fourth quarter. Meitav Investment House Ltd. now owns 12,846 shares of the company's stock worth $182,000 after purchasing an additional 1,870 shares during the last quarter. Global Retirement Partners LLC bought a new stake in shares of Similarweb during the 4th quarter worth $29,000. New York State Common Retirement Fund acquired a new stake in Similarweb in the fourth quarter valued at about $39,000. XTX Topco Ltd grew its position in Similarweb by 9.0% in the third quarter. XTX Topco Ltd now owns 53,980 shares of the company's stock valued at $477,000 after acquiring an additional 4,453 shares during the last quarter. Finally, Oppenheimer & Co. Inc. raised its stake in Similarweb by 4.3% during the fourth quarter. Oppenheimer & Co. Inc. now owns 111,149 shares of the company's stock worth $1,575,000 after acquiring an additional 4,542 shares in the last quarter. Institutional investors and hedge funds own 57.59% of the company's stock.

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.