Similarweb (NYSE:SMWB) Sees Unusually-High Trading Volume – What’s Next?

Shares of Similarweb Ltd. (NYSE:SMWB) saw an uptick in trading volume on Thursday . 660,331 shares were traded during trading, an increase of 214% from the previous session’s volume of 210,110 shares.The stock last traded at $12.59 and had previously closed at $12.23.

Analyst Ratings Changes

A number of brokerages have recently issued reports on SMWB. Northland Capmk upgraded shares of Similarweb to a “strong-buy” rating in a report on Tuesday, September 10th. JMP Securities boosted their price objective on Similarweb from $16.00 to $17.00 and gave the stock a “market outperform” rating in a report on Thursday, November 14th. William Blair restated an “outperform” rating on shares of Similarweb in a report on Monday, September 9th. Northland Securities assumed coverage on Similarweb in a report on Tuesday, September 10th. They set an “outperform” rating and a $15.00 price target for the company. Finally, Citigroup raised their price objective on Similarweb from $10.00 to $14.00 and gave the company a “buy” rating in a research note on Thursday, November 14th. Eight research analysts have rated the stock with a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, Similarweb presently has an average rating of “Buy” and a consensus price target of $12.86.

Similarweb Stock Up 0.6 %

The firm’s fifty day moving average price is $9.38 and its 200-day moving average price is $8.31.

Institutional Trading of Similarweb

Several hedge funds and other institutional investors have recently made changes to their positions in SMWB. Cubist Systematic Strategies LLC increased its position in shares of Similarweb by 4.4% during the second quarter. Cubist Systematic Strategies LLC now owns 51,272 shares of the company’s stock valued at $398,000 after acquiring an additional 2,138 shares in the last quarter. California State Teachers Retirement System boosted its stake in Similarweb by 10.1% during the 1st quarter. California State Teachers Retirement System now owns 26,892 shares of the company’s stock valued at $242,000 after purchasing an additional 2,475 shares during the last quarter. Blair William & Co. IL increased its holdings in shares of Similarweb by 20.1% in the 1st quarter. Blair William & Co. IL now owns 21,662 shares of the company’s stock worth $195,000 after purchasing an additional 3,621 shares in the last quarter. XTX Topco Ltd raised its stake in shares of Similarweb by 9.0% in the third quarter. XTX Topco Ltd now owns 53,980 shares of the company’s stock worth $477,000 after purchasing an additional 4,453 shares during the last quarter. Finally, Legato Capital Management LLC lifted its holdings in shares of Similarweb by 4.5% during the second quarter. Legato Capital Management LLC now owns 102,987 shares of the company’s stock valued at $800,000 after purchasing an additional 4,455 shares in the last quarter. Hedge funds and other institutional investors 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.