Similarweb (NYSE:SMWB) Shares Gap Down to $18.02

Similarweb Ltd. (NYSE:SMWB)’s stock price gapped down before the market opened on Thursday . The stock had previously closed at $18.02, but opened at $17.35. Similarweb shares last traded at $17.45, with a volume of 720 shares trading hands.

A number of equities research analysts have recently commented on the company. Jefferies Financial Group raised their target price on Similarweb from $20.00 to $22.00 and gave the company a “buy” rating in a research report on Thursday, January 6th. Zacks Investment Research upgraded Similarweb from a “sell” rating to a “hold” rating in a research report on Wednesday. Two research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company. Based on data from MarketBeat.com, Similarweb currently has a consensus rating of “Buy” and an average price target of $27.50.

The company has a fifty day moving average of $17.51 and a 200-day moving average of $19.81.

Similarweb (NYSE:SMWB) last issued its earnings results on Wednesday, November 10th. The company reported ($0.23) earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.22) by ($0.01). The firm had revenue of $35.60 million during the quarter, compared to analyst estimates of $32.98 million. On average, research analysts expect that Similarweb Ltd. will post -1.24 EPS for the current year.

Several institutional investors have recently modified their holdings of SMWB. ION Crossover Partners Ltd acquired a new position in shares of Similarweb during the 2nd quarter worth approximately $113,712,000. Ion Asset Management Ltd. acquired a new position in shares of Similarweb during the 2nd quarter worth approximately $20,720,000. FMR LLC purchased a new stake in shares of Similarweb during the 2nd quarter valued at approximately $13,794,000. BlackRock Inc. purchased a new stake in shares of Similarweb during the 2nd quarter valued at approximately $13,789,000. Finally, Bamco Inc. NY purchased a new stake in shares of Similarweb during the 2nd quarter valued at approximately $10,204,000. Institutional investors and hedge funds own 19.37% of the company’s stock.

About Similarweb (NYSE:SMWB)

Similarweb Ltd. provides website traffic solutions through AI-driven data analytics worldwide. It offers digital research intelligence solutions that allow senior leaders, strategy, business intelligence, and consumer insights teams 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 solutions, which enable marketing leaders, search engine optimization, and content managers, pay-per-click, performance marketers, affiliate marketers, and media buyers to understand their competitors' online acquisition strategies in each marketing channel.

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