Similarweb Ltd. (NYSE:SMWB) Short Interest Update

Similarweb Ltd. (NYSE:SMWB) saw a significant drop in short interest in the month of March. As of March 15th, there was short interest totalling 620,500 shares, a drop of 20.9% from the February 28th total of 784,100 shares. Based on an average daily trading volume, of 726,100 shares, the short-interest ratio is currently 0.9 days. Approximately 1.5% of the shares of the stock are short sold.

Institutional Investors Weigh In On Similarweb

Hedge funds and other institutional investors have recently modified their holdings of the stock. California State Teachers Retirement System increased its stake in Similarweb by 36.2% in the 4th quarter. California State Teachers Retirement System now owns 38,298 shares of the company’s stock worth $543,000 after purchasing an additional 10,185 shares during the period. Heck Capital Advisors LLC purchased a new position in shares of Similarweb in the fourth quarter worth $115,000. Public Employees Retirement System of Ohio raised its holdings in Similarweb by 25.3% during the 4th quarter. Public Employees Retirement System of Ohio now owns 9,900 shares of the company’s stock valued at $140,000 after buying an additional 2,000 shares during the last quarter. Sphera Management Technology Funds Ltd purchased a new stake in Similarweb during the 4th quarter valued at $2,326,000. Finally, Two Sigma Advisers LP boosted its position in Similarweb by 41.1% during the 4th quarter. Two Sigma Advisers LP now owns 43,600 shares of the company’s stock valued at $618,000 after buying an additional 12,700 shares during the period. Institutional investors own 57.59% of the company’s stock.

Wall Street Analyst Weigh In

Several equities analysts recently commented on SMWB shares. Jefferies Financial Group boosted their target price on Similarweb from $13.00 to $23.00 and gave the stock a “buy” rating in a research report on Monday, February 3rd. Needham & Company LLC restated a “buy” rating and issued a $14.00 price objective on shares of Similarweb in a research report on Thursday, February 13th. JMP Securities reaffirmed a “market outperform” rating and issued a $17.00 target price on shares of Similarweb in a research note on Thursday, February 13th. The Goldman Sachs Group cut their price target on shares of Similarweb from $15.00 to $13.00 and set a “buy” rating for the company in a research note on Friday. Finally, Northland Securities lifted their price objective on shares of Similarweb from $17.00 to $20.00 and gave the stock an “outperform” rating in a report on Friday, January 24th. Nine research analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat, Similarweb presently has an average rating of “Buy” and a consensus price target of $16.13.

Similarweb Stock Performance

Shares of SMWB opened at $8.39 on Monday. Similarweb has a fifty-two week low of $5.71 and a fifty-two week high of $17.64. The firm has a market cap of $693.01 million, a price-to-earnings ratio of -59.91 and a beta of 1.08. The firm has a 50 day moving average price of $11.87 and a 200-day moving average price of $11.50.

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 return on equity of 47.62% and a negative net margin of 4.58%. As a group, equities research analysts predict that Similarweb will post -0.24 earnings per share for the current year.

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.