Similarweb (NYSE:SMWB) Research Coverage Started at Cantor Fitzgerald

Cantor Fitzgerald began coverage on shares of Similarweb (NYSE:SMWB – Get Rating) in a research report issued to clients and investors on Tuesday, The Fly reports. The brokerage set an “overweight” rating on the stock.

A number of other brokerages have also weighed in on SMWB. 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 decreased their price objective on Similarweb from $32.00 to $20.00 in a research report on Thursday, May 12th. Zacks Investment Research cut Similarweb from a “hold” rating to a “sell” rating in a report on Wednesday, May 11th. Finally, Barclays upgraded shares of Similarweb from an “equal weight” rating to an “overweight” rating and set a $22.00 price objective on the stock in a research report on Wednesday, February 23rd. One analyst has rated the stock with a sell rating and nine have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Buy” and an average target price of $25.29.

SMWB opened at $9.01 on Tuesday. The stock has a market cap of $669.33 million and a price-to-earnings ratio of -7.39. The firm’s fifty day moving average is $12.30 and its 200 day moving average is $14.63. Similarweb has a fifty-two week low of $8.23 and a fifty-two week high of $25.50.

Similarweb (NYSE:SMWB – Get Rating) last announced its quarterly earnings data on Tuesday, May 10th. The company reported ($0.34) EPS for the quarter, missing the consensus estimate of ($0.30) by ($0.04). The business had revenue of $44.28 million during the quarter, compared to analysts’ expectations of $41.22 million. Similarweb had a negative net margin of 54.07% and a negative return on equity of 88.43%. On average, equities research analysts anticipate that Similarweb will post -1.24 EPS for the current year.

A number of large investors have recently added to or reduced their stakes in SMWB. Naspers Ltd. purchased a new position in Similarweb during the 4th quarter valued at about $200,113,000. Migdal Insurance & Financial Holdings Ltd. raised its stake 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 buying an additional 789,723 shares in the last quarter. Ulysses Management LLC bought a new position in Similarweb in the fourth quarter worth approximately $26,477,000. Millennium Management LLC boosted its position in Similarweb by 63.3% during the 4th quarter. Millennium Management LLC now owns 613,131 shares of the company’s stock valued at $10,981,000 after acquiring an additional 237,781 shares in the last quarter. Finally, Macquarie Group Ltd. increased its holdings in shares of Similarweb by 176.8% in the 3rd quarter. Macquarie Group Ltd. now owns 609,534 shares of the company’s stock valued at $12,757,000 after acquiring an additional 389,301 shares during the period. 42.87% of the stock is owned by institutional investors.

About Similarweb (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.

See Also