Similarweb (NYSE:SMWB) Releases Quarterly Earnings Results, Misses Estimates By $0.10 EPS

Similarweb (NYSE:SMWB) issued its quarterly earnings data on Tuesday. The company reported ($0.07) earnings per share for the quarter, missing the consensus estimate of $0.03 by ($0.10), Zacks reports. Similarweb had a negative net margin of 3.92% and a negative return on equity of 44.83%.

Similarweb Trading Down 2.0 %

Shares of SMWB stock traded down $0.34 during trading on Tuesday, reaching $16.73. 993,690 shares of the company’s stock traded hands, compared to its average volume of 647,508. Similarweb has a 1 year low of $5.71 and a 1 year high of $17.64. The company has a market capitalization of $1.35 billion, a P/E ratio of -152.11 and a beta of 0.99. The firm’s 50-day moving average is $14.86 and its 200 day moving average is $11.14.

Analyst Upgrades and Downgrades

A number of equities analysts have recently weighed in on the company. Needham & Company LLC restated a “buy” rating and issued a $14.00 target price on shares of Similarweb in a research note on Thursday, January 16th. The Goldman Sachs Group began coverage on Similarweb in a research note on Wednesday, December 11th. They issued a “buy” rating and a $16.00 price objective for the company. Citigroup lifted their target price on Similarweb from $14.00 to $22.00 and gave the stock a “buy” rating in a research note on Tuesday. William Blair restated an “outperform” rating on shares of Similarweb in a research report on Thursday, December 19th. Finally, Jefferies Financial Group raised their price objective on shares of Similarweb from $13.00 to $23.00 and gave the stock a “buy” rating in a report on Monday, February 3rd. Nine investment analysts have rated the stock with a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat, the stock currently has a consensus rating of “Buy” and an average target price of $16.50.

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.