Similarweb Ltd. (NYSE:SMWB) Short Interest Update

Similarweb Ltd. (NYSE:SMWB) was the target of a large decline in short interest in August. As of August 31st, there was short interest totalling 81,100 shares, a decline of 19.4% from the August 15th total of 100,600 shares. Based on an average daily trading volume, of 186,900 shares, the days-to-cover ratio is currently 0.4 days. Currently, 0.2% of the shares of the stock are sold short.

Institutional Trading of Similarweb

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Scalar Gauge Management LLC lifted its position in Similarweb by 56.8% during the 2nd quarter. Scalar Gauge Management LLC now owns 593,923 shares of the company’s stock valued at $4,615,000 after purchasing an additional 215,221 shares during the period. Acadian Asset Management LLC lifted its holdings in Similarweb by 60.8% in the second quarter. Acadian Asset Management LLC now owns 442,917 shares of the company’s stock valued at $3,427,000 after buying an additional 167,500 shares during the period. Russell Investments Group Ltd. bought a new position in Similarweb in the first quarter valued at approximately $2,820,000. Roubaix Capital LLC acquired a new stake in Similarweb during the 1st quarter worth $2,449,000. Finally, Essex Investment Management Co. LLC acquired a new stake in Similarweb during the 1st quarter worth $2,344,000. 57.59% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several research analysts have issued reports on SMWB shares. William Blair reiterated an “outperform” rating on shares of Similarweb in a research note on Monday, September 9th. JMP Securities lifted their price target on shares of Similarweb from $14.00 to $16.00 and gave the company a “market outperform” rating in a report on Wednesday, August 21st. Northland Capmk raised shares of Similarweb to a “strong-buy” rating in a research note on Tuesday, September 10th. Barclays lifted their target price on shares of Similarweb from $9.00 to $10.00 and gave the company an “overweight” rating in a research note on Thursday, August 8th. Finally, Northland Securities initiated coverage on Similarweb in a research report on Tuesday, September 10th. They set an “outperform” rating and a $15.00 price target on the stock. Seven 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 $11.83.

Similarweb Price Performance

SMWB opened at $8.16 on Friday. The stock has a market capitalization of $641.78 million, a P/E ratio of -32.64 and a beta of 0.85. The company’s 50 day simple moving average is $7.82 and its 200-day simple moving average is $7.98. Similarweb has a one year low of $4.58 and a one year high of $9.76.

Similarweb (NYSE:SMWB) last posted its quarterly earnings data on Tuesday, August 6th. The company reported ($0.01) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.05) by $0.04. The firm had revenue of $60.64 million for the quarter, compared to the consensus estimate of $60.23 million. Similarweb had a negative return on equity of 60.53% and a negative net margin of 5.07%. As a group, analysts anticipate that Similarweb will post -0.05 EPS for the current year.

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.