Similarweb (NYSE:SMWB) Shares Down 4.7% – Should You Sell?

Similarweb Ltd. (NYSE:SMWB)’s stock price fell 4.7% on Thursday . The stock traded as low as $11.34 and last traded at $11.31. 184,114 shares traded hands during trading, a decline of 78% from the average session volume of 846,986 shares. The stock had previously closed at $11.87.

Wall Street Analysts Forecast Growth

Several research analysts recently weighed in on SMWB shares. William Blair restated an “outperform” rating on shares of Similarweb in a research report on Thursday, December 19th. Northland Securities raised their price target on Similarweb from $17.00 to $20.00 and gave the company an “outperform” rating in a report on Friday, January 24th. The Goldman Sachs Group initiated coverage on Similarweb in a research note on Wednesday, December 11th. They set a “buy” rating and a $16.00 price target for the company. Citigroup lifted their price objective on Similarweb from $14.00 to $22.00 and gave the stock a “buy” rating in a research note on Tuesday. Finally, Jefferies Financial Group upped their target price on Similarweb from $13.00 to $23.00 and gave the stock a “buy” rating in a report on Monday, February 3rd. Nine analysts have rated the stock with a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, the stock has an average rating of “Buy” and a consensus target price of $16.50.

Similarweb Trading Down 9.9 %

The firm’s 50 day simple moving average is $14.92 and its two-hundred day simple moving average is $11.21. The firm has a market cap of $865.44 million, a price-to-earnings ratio of -96.91 and a beta of 0.99.

Similarweb (NYSE:SMWB) last posted its quarterly earnings results 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 3.92% and a negative return on equity of 44.83%. As a group, equities research analysts anticipate that Similarweb Ltd. will post -0.05 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Similarweb

Institutional investors and hedge funds have recently modified their holdings of the stock. Connor Clark & Lunn Investment Management Ltd. boosted its position in Similarweb by 112.7% in the 3rd quarter. Connor Clark & Lunn Investment Management Ltd. now owns 449,896 shares of the company’s stock worth $3,977,000 after purchasing an additional 238,428 shares in the last quarter. State Street Corp lifted its stake in Similarweb by 32.5% during the third quarter. State Street Corp now owns 187,919 shares of the company’s stock worth $1,661,000 after purchasing an additional 46,102 shares during the last quarter. Y.D. More Investments Ltd increased its holdings in shares of Similarweb by 6.3% in the fourth quarter. Y.D. More Investments Ltd now owns 1,449,634 shares of the company’s stock valued at $20,541,000 after purchasing an additional 86,500 shares during the period. JPMorgan Chase & Co. lifted its holdings in shares of Similarweb by 147.4% in the third quarter. JPMorgan Chase & Co. now owns 171,539 shares of the company’s stock valued at $1,516,000 after purchasing an additional 102,192 shares in the last quarter. Finally, Jennison Associates LLC purchased a new stake in shares of Similarweb in the fourth quarter valued at $26,059,000. Institutional investors own 57.59% of the company’s stock.

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.