Similarweb (NYSE:SMWB) Downgraded by Zacks Investment Research to Sell

Similarweb (NYSE:SMWB – Get Rating) was downgraded by Zacks Investment Research from a “hold” rating to a “sell” rating in a report released on Wednesday, Zacks.com reports.

According to Zacks, “Similarweb Ltd. is a website which provides web analytics services for businesses. Similarweb Ltd. is based in Israel. “

A number of other equities analysts have also recently commented on SMWB. Citigroup lowered their price target on Similarweb from $32.00 to $23.00 in a report on Friday, February 11th. Barclays raised Similarweb from an “equal weight” rating to an “overweight” rating and set a $22.00 price target for the company in a report on Wednesday, February 23rd. One investment analyst has rated the stock with a sell rating and eight have issued a buy rating to the company’s stock. According to MarketBeat, the stock has a consensus rating of “Buy” and a consensus target price of $26.57.

NYSE:SMWB traded down $0.15 during mid-day trading on Wednesday, hitting $8.76. 22,870 shares of the stock were exchanged, compared to its average volume of 113,553. The stock’s 50-day moving average price is $12.95. Similarweb has a fifty-two week low of $8.86 and a fifty-two week high of $25.50.

Similarweb (NYSE:SMWB – Get Rating) last announced its quarterly earnings data on Wednesday, February 16th. The company reported ($0.32) earnings per share for the quarter, missing the consensus estimate of ($0.28) by ($0.04). The company had revenue of $40.15 million during the quarter, compared to analyst estimates of $37.74 million. Similarweb had a negative net margin of 50.10% and a negative return on equity of 178.53%. As a group, equities research analysts predict that Similarweb will post -1.1 earnings per share for the current fiscal year.

Several large investors have recently made changes to their positions in the stock. Naspers Ltd. bought a new stake in Similarweb in the fourth quarter worth about $200,113,000. Ulysses Management LLC purchased a new position in Similarweb during the fourth quarter valued at approximately $26,477,000. Migdal Insurance & Financial Holdings Ltd. grew its holdings in Similarweb by 88.2% in the fourth quarter. Migdal Insurance & Financial Holdings Ltd. now owns 1,684,653 shares of the company’s stock worth $30,172,000 after purchasing an additional 789,723 shares during the last quarter. Macquarie Group Ltd. grew its holdings in Similarweb by 176.8% in the third quarter. Macquarie Group Ltd. now owns 609,534 shares of the company’s stock worth $12,757,000 after purchasing an additional 389,301 shares during the last quarter. Finally, Premier Fund Managers Ltd purchased a new position in Similarweb in the first quarter worth $4,527,000. 42.87% of the stock is owned by hedge funds and other institutional investors.

Similarweb Company Profile (Get Rating)

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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