Similarweb (NYSE:SMWB) Sees Unusually-High Trading Volume

Similarweb Ltd. (NYSE:SMWB) saw strong trading volume on Monday . 68,341 shares were traded during trading, a decline of 64% from the previous session’s volume of 187,443 shares.The stock last traded at $8.34 and had previously closed at $8.16.

Analysts Set New Price Targets

Several equities research analysts have recently commented on SMWB shares. JMP Securities upped their price objective on Similarweb from $14.00 to $16.00 and gave the stock a “market outperform” rating in a research note on Wednesday, August 21st. Northland Securities started coverage on Similarweb in a research report on Tuesday, September 10th. They issued an “outperform” rating and a $15.00 price target for the company. Cantor Fitzgerald reaffirmed an “overweight” rating and set a $10.00 price objective on shares of Similarweb in a research report on Wednesday, August 7th. Northland Capmk upgraded Similarweb to a “strong-buy” rating in a research note on Tuesday, September 10th. Finally, William Blair reaffirmed an “outperform” rating on shares of Similarweb in a report on Monday, September 9th. Seven equities research analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, the stock has an average rating of “Buy” and an average price target of $11.83.

Similarweb Stock Performance

The stock’s 50 day simple moving average is $7.82 and its 200 day simple moving average is $7.98. The firm has a market capitalization of $637.07 million, a P/E ratio of -32.64 and a beta of 0.85.

Similarweb (NYSE:SMWB) last released its quarterly earnings data on Tuesday, August 6th. The company reported ($0.01) EPS for the quarter, topping the consensus estimate of ($0.05) by $0.04. The company 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%. On average, analysts anticipate that Similarweb Ltd. will post -0.04 earnings per share for the current year.

Institutional Trading of Similarweb

Several institutional investors and hedge funds have recently made changes to their positions in SMWB. Cubist Systematic Strategies LLC lifted its holdings in Similarweb by 4.4% during the second quarter. Cubist Systematic Strategies LLC now owns 51,272 shares of the company’s stock worth $398,000 after buying an additional 2,138 shares during the period. Scalar Gauge Management LLC boosted its position in Similarweb by 56.8% during the second 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 in the last quarter. 272 Capital LP bought a new position in Similarweb in the second quarter worth about $529,000. XTX Topco Ltd lifted its position in shares of Similarweb by 63.9% during the second quarter. XTX Topco Ltd now owns 49,527 shares of the company’s stock valued at $385,000 after buying an additional 19,313 shares during the last quarter. Finally, Renaissance Technologies LLC boosted its holdings in shares of Similarweb by 4.3% in the 2nd 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 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.