Similarweb (NYSE:SMWB) Shares Down 2.3% – Here’s What Happened

Similarweb Ltd. (NYSE:SMWB) was down 2.3% on Thursday . The stock traded as low as $14.15 and last traded at $14.19. Approximately 66,890 shares changed hands during trading, a decline of 73% from the average daily volume of 244,358 shares. The stock had previously closed at $14.53.

Analysts Set New Price Targets

A number of equities research analysts have issued reports on the company. JMP Securities restated a “market outperform” rating and set a $17.00 price objective on shares of Similarweb in a research report on Wednesday, December 11th. Northland Capmk upgraded Similarweb to a “strong-buy” rating in a research report on Tuesday, September 10th. Needham & Company LLC reiterated a “buy” rating and set a $14.00 price objective on shares of Similarweb in a research report on Wednesday, December 11th. The Goldman Sachs Group initiated coverage on shares of Similarweb in a research note on Wednesday, December 11th. They set a “buy” rating and a $16.00 price target for the company. Finally, Citigroup increased their price objective on shares of Similarweb from $10.00 to $14.00 and gave the stock a “buy” rating in a research report on Thursday, November 14th. Nine equities research analysts have rated the stock with a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, Similarweb presently has an average rating of “Buy” and a consensus target price of $13.50.

Similarweb Trading Down 0.2 %

The company has a market capitalization of $1.17 billion, a PE ratio of -131.82 and a beta of 1.03. The firm’s 50-day simple moving average is $11.45 and its 200-day simple moving average is $9.19.

Institutional Trading of Similarweb

Several institutional investors and hedge funds have recently made changes to their positions in the company. ANTIPODES PARTNERS Ltd grew its holdings in Similarweb by 122.5% during the 2nd quarter. ANTIPODES PARTNERS Ltd now owns 11,580 shares of the company’s stock worth $90,000 after acquiring an additional 6,376 shares in the last quarter. Ceera Investments LLC lifted its position in shares of Similarweb by 38.3% in the 2nd quarter. Ceera Investments LLC now owns 259,827 shares of the company’s stock worth $2,019,000 after purchasing an additional 71,994 shares during the period. Acadian Asset Management LLC boosted its stake in shares of Similarweb by 60.8% during the second quarter. Acadian Asset Management LLC now owns 442,917 shares of the company’s stock valued at $3,427,000 after purchasing an additional 167,500 shares in the last quarter. Renaissance Technologies LLC increased its holdings in Similarweb by 4.3% during the second quarter. Renaissance Technologies LLC now owns 110,600 shares of the company’s stock valued at $859,000 after buying an additional 4,599 shares during the period. Finally, XTX Topco Ltd raised its stake in Similarweb by 63.9% in the second quarter. XTX Topco Ltd now owns 49,527 shares of the company’s stock worth $385,000 after buying an additional 19,313 shares in the last quarter. 57.59% of the stock is currently owned by institutional investors.

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.