Short Interest in Similarweb Ltd. (NYSE:SMWB) Decreases By 26.7% – MarketBeat

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Similarweb Ltd. (NYSE:SMWB – Get Rating) was the recipient of a significant decrease in short interest in the month of January. As of January 15th, there was short interest totalling 513,400 shares, a decrease of 26.7% from the December 31st total of 700,300 shares. Based on an average daily trading volume, of 163,100 shares, the days-to-cover ratio is currently 3.1 days. Currently, 2.1% of the company’s shares are short sold.

Similarweb Trading Up 0.7 %

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Shares of NYSE SMWB traded up $0.05 during midday trading on Friday, reaching $6.78. The company’s stock had a trading volume of 94,873 shares, compared to its average volume of 121,832. The stock has a 50 day simple moving average of $5.66 and a 200-day simple moving average of $6.77. The stock has a market capitalization of $503.67 million, a price-to-earnings ratio of -5.51 and a beta of 0.17. Similarweb has a fifty-two week low of $4.37 and a fifty-two week high of $15.22.
Similarweb (NYSE:SMWB – Get Rating) last announced its quarterly earnings data on Tuesday, November 15th. The company reported ($0.28) EPS for the quarter, topping analysts’ consensus estimates of ($0.33) by $0.05. The business had revenue of $50.02 million for the quarter, compared to analyst estimates of $49.08 million. Similarweb had a negative net margin of 50.80% and a negative return on equity of 141.06%. As a group, equities analysts anticipate that Similarweb will post -1.14 EPS for the current year.

Analysts Set New Price Targets

Several research firms have weighed in on SMWB. Cantor Fitzgerald cut their target price on Similarweb from $20.00 to $13.00 and set an “overweight” rating on the stock in a research note on Thursday, November 17th. JMP Securities dropped their price target on Similarweb from $20.00 to $14.00 and set a “market outperform” rating on the stock in a research report on Wednesday, November 16th. Barclays dropped their price target on Similarweb from $14.00 to $8.00 and set an “overweight” rating on the stock in a research report on Thursday, November 17th. Finally, Citigroup lowered Similarweb from a “buy” rating to a “neutral” rating and dropped their price target for the stock from $10.00 to $7.00 in a research report on Thursday, January 12th.

Institutional Trading of Similarweb

Institutional investors have recently made changes to their positions in the business. MQS Management LLC bought a new stake in shares of Similarweb in the second quarter worth $86,000. UBS Group AG grew its stake 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 acquiring an additional 9,400 shares in the last quarter. Renaissance Technologies LLC acquired a new position in shares of Similarweb in the second quarter valued at about $103,000. Engineers Gate Manager LP acquired a new position in shares of Similarweb in the first quarter valued at about $165,000. Finally, Goldman Sachs Group Inc. acquired a new position in shares of Similarweb in the second quarter valued at about $109,000. Institutional investors own 36.70% of the company’s stock.

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.

Further Reading

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