Similarweb (NYSE:SMWB) Shares Gap Up to $9.04

Similarweb Ltd. (NYSE:SMWBGet Rating) shares gapped up before the market opened on Wednesday . The stock had previously closed at $9.04, but opened at $9.39. Similarweb shares last traded at $8.99, with a volume of 771 shares.

A number of research analysts have commented on the stock. Zacks Investment Research cut shares of Similarweb from a “hold” rating to a “sell” rating in a research note on Wednesday, May 11th. Cantor Fitzgerald initiated coverage on shares of Similarweb in a research note on Tuesday. They issued an “overweight” rating and a $17.00 target price for the company. Citigroup cut their target price on shares of Similarweb from $32.00 to $23.00 in a research note on Friday, February 11th. JMP Securities cut their target price on shares of Similarweb from $32.00 to $20.00 in a research note on Thursday, May 12th. Finally, Barclays upgraded shares of Similarweb from an “equal weight” rating to an “overweight” rating and set a $22.00 target price for the company in a research note on Wednesday, February 23rd. One equities research analyst has rated the stock with a sell rating and nine have issued a buy rating to the stock. According to MarketBeat, the company has an average rating of “Buy” and an average price target of $24.25.

The stock has a market capitalization of $675.28 million and a P/E ratio of -7.41. The stock has a 50-day simple moving average of $12.17 and a 200 day simple moving average of $14.52.

Similarweb (NYSE:SMWBGet Rating) last announced its quarterly earnings data on Tuesday, May 10th. The company reported ($0.34) EPS for the quarter, missing analysts’ consensus estimates of ($0.30) by ($0.04). The firm had revenue of $44.28 million during the quarter, compared to the consensus estimate of $41.22 million. Similarweb had a negative net margin of 54.07% and a negative return on equity of 88.43%. As a group, equities analysts forecast that Similarweb Ltd. will post -1.24 EPS for the current year.

Several hedge funds have recently bought and sold shares of SMWB. Harel Insurance Investments & Financial Services Ltd. acquired a new position in shares of Similarweb in the 4th quarter valued at $65,000. Canada Pension Plan Investment Board acquired a new position in shares of Similarweb in the 4th quarter valued at $81,000. JPMorgan Chase & Co. lifted its stake in shares of Similarweb by 2,440.3% in the 4th quarter. JPMorgan Chase & Co. now owns 7,621 shares of the company’s stock valued at $136,000 after purchasing an additional 7,321 shares during the period. UBS Group AG lifted its stake in shares of Similarweb by 539.9% in the 1st quarter. UBS Group AG now owns 11,141 shares of the company’s stock valued at $144,000 after purchasing an additional 9,400 shares during the period. Finally, RBF Capital LLC acquired a new position in shares of Similarweb in the 1st quarter valued at $158,000. 42.87% of the stock is currently owned by institutional investors.

About Similarweb (NYSE:SMWB)

Similarweb Ltd. provides a platform for digital intelligence in the United States, Europe, Asia Pacific, the United Kingdom, Israel, and internationally. It offers digital research intelligence solutions that allow senior leaders, strategy, business intelligence, and consumer insights teams 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 solutions, which enable marketing leaders, search engine optimization, and content managers, pay-per-click, performance marketers, affiliate marketers, and media buyers to understand their competitors' online acquisition strategies in each marketing channel.

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