Similarweb Ltd. (NYSE:SMWB) Short Interest Update

Similarweb Ltd. (NYSE:SMWB) was the recipient of a significant drop in short interest in the month of March. As of March 15th, there was short interest totalling 620,500 shares, a drop of 20.9% from the February 28th total of 784,100 shares. Currently, 1.5% of the company’s stock are sold short. Based on an average trading volume of 726,100 shares, the short-interest ratio is presently 0.9 days.

Similarweb Stock Down 2.4 %

Shares of SMWB stock opened at $8.39 on Monday. Similarweb has a 12-month low of $5.71 and a 12-month high of $17.64. The company has a 50 day moving average of $11.87 and a 200-day moving average of $11.50. The firm has a market cap of $693.01 million, a P/E ratio of -59.91 and a beta of 1.08.

Similarweb (NYSE:SMWB) last issued its quarterly earnings results on Tuesday, February 11th. The company reported ($0.07) EPS for the quarter, missing analysts’ consensus estimates of $0.03 by ($0.10). Similarweb had a negative net margin of 4.58% and a negative return on equity of 47.62%. As a group, equities analysts expect that Similarweb will post -0.24 EPS for the current year.

Hedge Funds Weigh In On Similarweb

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the business. State Street Corp grew its stake in Similarweb by 32.5% in the 3rd quarter. State Street Corp now owns 187,919 shares of the company’s stock valued at $1,661,000 after buying an additional 46,102 shares in the last quarter. Y.D. More Investments Ltd grew its holdings in Similarweb by 6.3% during 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 in the last quarter. JPMorgan Chase & Co. increased its position in shares of Similarweb by 147.4% during the third quarter. JPMorgan Chase & Co. now owns 171,539 shares of the company’s stock valued at $1,516,000 after buying an additional 102,192 shares during the period. Jennison Associates LLC purchased a new stake in shares of Similarweb in the fourth quarter worth about $26,059,000. Finally, Telemark Asset Management LLC bought a new position in shares of Similarweb in the fourth quarter valued at approximately $4,251,000. Institutional investors own 57.59% of the company’s stock.

Analyst Upgrades and Downgrades

SMWB has been the topic of a number of recent research reports. JMP Securities reiterated a “market outperform” rating and issued a $17.00 target price on shares of Similarweb in a report on Thursday, February 13th. Citigroup upped their target price on shares of Similarweb from $14.00 to $22.00 and gave the stock a “buy” rating in a report on Tuesday, February 11th. Northland Securities increased their price objective on Similarweb from $17.00 to $20.00 and gave the stock an “outperform” rating in a research note on Friday, January 24th. William Blair reissued an “outperform” rating on shares of Similarweb in a research report on Thursday, December 19th. Finally, Needham & Company LLC reiterated a “buy” rating and issued a $14.00 target price on shares of Similarweb in a research note on Thursday, February 13th. Nine equities research analysts have rated the stock with a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of “Buy” and a consensus price target of $16.13.

Similarweb Company Profile

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.