Similarweb Ltd. (NYSE:SMWB) Sees Significant Decrease in Short Interest

Similarweb Ltd. (NYSE:SMWB) was the target 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. Approximately 1.5% of the company’s stock are sold short. Based on an average daily volume of 726,100 shares, the days-to-cover ratio is presently 0.9 days.

Institutional Trading of Similarweb

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Global Retirement Partners LLC purchased a new stake in Similarweb in the 4th quarter worth approximately $29,000. New York State Common Retirement Fund purchased a new stake in shares of Similarweb in the fourth quarter valued at $39,000. Public Employees Retirement System of Ohio acquired a new position in Similarweb in the third quarter valued at $70,000. KLP Kapitalforvaltning AS purchased a new position in Similarweb during the fourth quarter worth about $115,000. Finally, Heck Capital Advisors LLC purchased a new stake in Similarweb in the 4th quarter valued at about $115,000. Hedge funds and other institutional investors own 57.59% of the company’s stock.

Analyst Ratings Changes

A number of analysts have recently weighed in on SMWB shares. Needham & Company LLC reaffirmed a “buy” rating and set a $14.00 price objective on shares of Similarweb in a research report on Thursday, February 13th. JMP Securities reiterated a “market outperform” rating and issued a $17.00 price objective on shares of Similarweb in a research note on Thursday, February 13th. Northland Securities boosted their price objective on Similarweb from $17.00 to $20.00 and gave the stock an “outperform” rating in a research report on Friday, January 24th. The Goldman Sachs Group decreased their price objective on shares of Similarweb from $15.00 to $13.00 and set a “buy” rating for the company in a research report on Friday. Finally, William Blair restated an “outperform” rating on shares of Similarweb in a research note on Thursday, December 19th. Nine investment analysts have rated the stock with a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, Similarweb presently has a consensus rating of “Buy” and an average target price of $16.13.

Similarweb Stock Up 1.3 %

Shares of NYSE SMWB traded up $0.11 during midday trading on Tuesday, hitting $8.38. The company had a trading volume of 310,765 shares, compared to its average volume of 373,291. The business has a 50-day simple moving average of $11.58 and a two-hundred day simple moving average of $11.50. Similarweb has a twelve month low of $5.71 and a twelve month high of $17.64. The firm has a market capitalization of $692.35 million, a price-to-earnings ratio of -59.85 and a beta of 1.08.

Similarweb (NYSE:SMWB) last released its quarterly earnings data on Tuesday, February 11th. The company reported ($0.07) earnings per share for the quarter, missing the consensus estimate of $0.03 by ($0.10). Similarweb had a negative net margin of 4.58% and a negative return on equity of 47.62%. On average, equities analysts forecast that Similarweb will post -0.24 EPS for the current year.

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.