Similarweb Ltd. (NYSE:SMWB) Short Interest Down 43.4% in November

Similarweb Ltd. (NYSE:SMWB) was the target of a large decline in short interest in November. As of November 15th, there was short interest totalling 152,300 shares, a decline of 43.4% from the October 31st total of 269,100 shares. Based on an average daily trading volume, of 338,400 shares, the short-interest ratio is presently 0.5 days. Approximately 0.4% of the shares of the stock are sold short.

Wall Street Analyst Weigh In

Several equities analysts have weighed in on the stock. Northland Securities raised their target price on shares of Similarweb from $15.00 to $17.00 and gave the company an “outperform” rating in a report on Tuesday. Cantor Fitzgerald reissued an “overweight” rating and set a $10.00 price objective on shares of Similarweb in a research note on Wednesday, August 7th. JMP Securities upped their target price on Similarweb from $16.00 to $17.00 and gave the company a “market outperform” rating in a research note on Thursday, November 14th. Citigroup raised their price target on Similarweb from $10.00 to $14.00 and gave the stock a “buy” rating in a research report on Thursday, November 14th. Finally, William Blair reaffirmed an “outperform” rating on shares of Similarweb in a research note on Monday, September 9th. Eight equities research analysts have rated the stock with a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Buy” and an average target price of $13.14.

Hedge Funds Weigh In On Similarweb

Large investors have recently bought and sold shares of the stock. Public Employees Retirement System of Ohio purchased a new stake in Similarweb during the third quarter valued at about $70,000. Quantbot Technologies LP purchased a new position in Similarweb in the third quarter valued at approximately $75,000. ANTIPODES PARTNERS Ltd raised its stake in shares of Similarweb by 122.5% in the 2nd quarter. ANTIPODES PARTNERS Ltd now owns 11,580 shares of the company’s stock valued at $90,000 after acquiring an additional 6,376 shares during the period. State of New Jersey Common Pension Fund D acquired a new position in shares of Similarweb during the 3rd quarter valued at $122,000. Finally, Barclays PLC boosted its position in Similarweb by 201.0% during the 3rd quarter. Barclays PLC now owns 15,414 shares of the company’s stock worth $136,000 after purchasing an additional 10,293 shares during the period. Hedge funds and other institutional investors own 57.59% of the company’s stock.

Similarweb Stock Performance

Similarweb stock traded up $0.29 during trading on Thursday, hitting $12.57. The company’s stock had a trading volume of 561,855 shares, compared to its average volume of 219,752. The stock’s fifty day moving average is $9.63 and its 200 day moving average is $8.43. Similarweb has a 1-year low of $4.58 and a 1-year high of $12.99. The stock has a market capitalization of $1.02 billion, a price-to-earnings ratio of -114.27 and a beta of 0.84.

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.