Similarweb (NYSE:SMWB) Sees Large Volume Increase

Similarweb Ltd. (NYSE:SMWBGet Rating) saw unusually-high trading volume on Wednesday . Approximately 15,468 shares traded hands during trading, a decline of 86% from the previous session’s volume of 113,553 shares.The stock last traded at $8.90 and had previously closed at $8.91.

SMWB has been the topic of a number of recent analyst reports. Barclays upgraded shares of Similarweb from an “equal weight” rating to an “overweight” rating and set a $22.00 price target on the stock in a report on Wednesday, February 23rd. Zacks Investment Research cut shares of Similarweb from a “hold” rating to a “sell” rating in a report on Wednesday. Finally, Citigroup cut their price target on shares of Similarweb from $32.00 to $23.00 in a report on Friday, February 11th. One research analyst has rated the stock with a sell rating and eight have given a buy rating to the company. According to data from MarketBeat, Similarweb currently has a consensus rating of “Buy” and an average price target of $26.57.

The business has a fifty day moving average of $12.95.

Similarweb (NYSE:SMWBGet Rating) last issued its earnings results on Wednesday, February 16th. The company reported ($0.32) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.28) by ($0.04). Similarweb had a negative return on equity of 178.53% and a negative net margin of 50.10%. The company had revenue of $40.15 million during the quarter, compared to analysts’ expectations of $37.74 million. On average, analysts forecast that Similarweb Ltd. will post -1.1 earnings per share for the current year.

Hedge funds have recently modified their holdings of the company. Phoenix Holdings Ltd. raised its holdings in Similarweb by 89.0% in the 1st quarter. Phoenix Holdings Ltd. now owns 109,953 shares of the company’s stock worth $1,424,000 after purchasing an additional 51,775 shares during the period. Premier Fund Managers Ltd purchased a new stake in Similarweb in the first quarter worth about $4,527,000. Meitav Dash Investments Ltd. increased its position in Similarweb by 70.1% in the first quarter. Meitav Dash Investments Ltd. now owns 550,821 shares of the company’s stock worth $7,086,000 after buying an additional 227,059 shares in the last quarter. ARK Investment Management LLC increased its position in Similarweb by 4.4% in the first quarter. ARK Investment Management LLC now owns 159,540 shares of the company’s stock worth $2,066,000 after buying an additional 6,672 shares in the last quarter. Finally, Yarbrough Capital LLC increased its position in Similarweb by 20.8% in the first quarter. Yarbrough Capital LLC now owns 20,783 shares of the company’s stock worth $269,000 after buying an additional 3,583 shares in the last quarter. 42.87% of the stock is owned by hedge funds and other institutional investors.

About Similarweb (NYSE:SMWB)

Similarweb Ltd. provides a platform for digital intelligence in the United States, Europe, Asia Pacific, the United Kingdom, Israel, and internationally. 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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