Similarweb (NYSE:SMWB) Rating Lowered to Neutral at Citigroup

Similarweb (NYSE:SMWB – Get Rating) was downgraded by research analysts at Citigroup from a “buy” rating to a “neutral” rating in a report released on Thursday, The Fly reports. They presently have a $7.00 target price on the stock, down from their previous target price of $10.00. Citigroup’s price target would suggest a potential upside of 19.05% from the stock’s current price.

SMWB has been the subject of several other reports. Barclays lowered their target price on shares of Similarweb from $14.00 to $8.00 and set an “overweight” rating for the company in a research note on Thursday, November 17th. JMP Securities reduced their target price on shares of Similarweb from $20.00 to $14.00 and set a “market outperform” rating for the company in a report on Wednesday, November 16th. Finally, Cantor Fitzgerald reduced their target price on shares of Similarweb from $20.00 to $13.00 and set an “overweight” rating for the company in a report on Thursday, November 17th.

Similarweb Stock Performance

Shares of Similarweb stock opened at $5.88 on Thursday. The company has a market capitalization of $436.81 million, a P/E ratio of -4.79 and a beta of 0.17. The company has a fifty day moving average of $5.53 and a 200 day moving average of $6.98. Similarweb has a fifty-two week low of $4.37 and a fifty-two week high of $17.34.

Similarweb (NYSE:SMWB – Get Rating) last released its quarterly earnings data on Tuesday, November 15th. The company reported ($0.28) EPS for the quarter, beating the consensus estimate of ($0.33) by $0.05. The business had revenue of $50.02 million during the quarter, compared to the consensus estimate of $49.08 million. Similarweb had a negative net margin of 50.80% and a negative return on equity of 141.06%. Analysts forecast that Similarweb will post -1.14 EPS for the current year.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the company. MQS Management LLC acquired a new stake in shares of Similarweb in the second quarter valued at about $86,000. UBS Group AG grew its position in shares of Similarweb by 539.9% in the first 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. Renaissance Technologies LLC acquired a new stake in shares of Similarweb in the second quarter valued at about $103,000. Engineers Gate Manager LP acquired a new position in Similarweb during the first quarter worth about $165,000. Finally, Goldman Sachs Group Inc. acquired a new position in Similarweb during the second quarter worth about $109,000. Hedge funds and other institutional investors own 36.70% of the company’s stock.

About Similarweb

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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.