Similarweb (NYSE:SMWB) Shares Down 4.2% - Here's What Happened

Similarweb Ltd. (NYSE:SMWB - Get Free Report)'s share price fell 4.2% during trading on Friday . The stock traded as low as $16.29 and last traded at $16.29. 200,184 shares were traded during mid-day trading, a decline of 68% from the average session volume of 629,131 shares. The stock had previously closed at $17.01.

Wall Street Analysts Forecast Growth

Several equities research analysts recently commented on SMWB shares. JMP Securities reiterated a "market outperform" rating and set a $17.00 price target on shares of Similarweb in a research note on Wednesday, December 11th. William Blair reissued an "outperform" rating on shares of Similarweb in a report on Thursday, December 19th. Jefferies Financial Group lifted their price target on Similarweb from $13.00 to $23.00 and gave the stock a "buy" rating in a research report on Monday. Northland Securities lifted their target price on shares of Similarweb from $17.00 to $20.00 and gave the company an "outperform" rating in a report on Friday, January 24th. Finally, Citigroup increased their price target on shares of Similarweb from $10.00 to $14.00 and gave the stock a "buy" rating in a research note on Thursday, November 14th. Nine analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, the company currently has a consensus rating of "Buy" and a consensus price target of $15.50.

Similarweb Price Performance

The firm has a market capitalization of $1.40 billion, a price-to-earnings ratio of -157.47 and a beta of 0.97. The business's 50 day moving average price is $14.48 and its 200-day moving average price is $10.84.

Similarweb (NYSE:SMWB - Get Free Report) last issued its quarterly earnings data on Tuesday, November 12th. The company reported ($0.03) earnings per share (EPS) for the quarter, missing the consensus estimate of $0.04 by ($0.07). The firm had revenue of $64.71 million for the quarter, compared to analyst estimates of $62.90 million. Similarweb had a negative return on equity of 44.83% and a negative net margin of 3.92%. During the same period in the prior year, the firm posted ($0.05) earnings per share. As a group, analysts expect that Similarweb Ltd. will post -0.05 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Institutional investors have recently bought and sold shares of the business. Jennison Associates LLC acquired a new position in Similarweb in the fourth quarter valued at $26,059,000. Y.D. More Investments Ltd grew its holdings in Similarweb by 6.3% in the 4th quarter. Y.D. More Investments Ltd now owns 1,449,634 shares of the company's stock valued at $20,541,000 after buying an additional 86,500 shares during the period. Scalar Gauge Management LLC increased its stake in shares of Similarweb by 45.5% during the 3rd quarter. Scalar Gauge Management LLC now owns 863,923 shares of the company's stock valued at $7,637,000 after acquiring an additional 270,000 shares during the last quarter. Connor Clark & Lunn Investment Management Ltd. lifted its holdings in shares of Similarweb by 112.7% during the 3rd quarter. Connor Clark & Lunn Investment Management Ltd. now owns 449,896 shares of the company's stock worth $3,977,000 after acquiring an additional 238,428 shares during the period. Finally, P.A.W. Capital Corp purchased a new stake in Similarweb in the third quarter valued at approximately $3,536,000. 57.59% of the stock is currently 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.