Short Interest in Similarweb Ltd. (NYSE:SMWB) Rises By 20.2%

Similarweb Ltd. (NYSE:SMWB) was the target of a significant increase in short interest in February. As of February 15th, there was short interest totalling 847,700 shares, an increase of 20.2% from the January 31st total of 705,400 shares. Currently, 2.0% of the company’s stock are short sold. Based on an average trading volume of 758,900 shares, the short-interest ratio is presently 1.1 days.

Similarweb Stock Down 0.8 %

Similarweb stock traded down $0.07 during trading hours on Friday, hitting $9.18. The stock had a trading volume of 449,966 shares, compared to its average volume of 848,674. The business’s 50 day simple moving average is $13.73 and its 200-day simple moving average is $11.48. Similarweb has a one year low of $5.71 and a one year high of $17.64. The stock has a market cap of $758.44 million, a price-to-earnings ratio of -65.50 and a beta of 1.08.

Similarweb (NYSE:SMWB) last issued its quarterly earnings results on Tuesday, February 11th. The company reported ($0.07) EPS for the quarter, missing analysts’ consensus estimates of $0.03 by ($0.10). Similarweb had a negative return on equity of 47.62% and a negative net margin of 4.58%. Research analysts anticipate that Similarweb will post -0.24 EPS for the current fiscal year.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently bought and sold shares of the stock. Heck Capital Advisors LLC acquired a new position in Similarweb during the 4th quarter worth approximately $115,000. Public Employees Retirement System of Ohio raised its stake 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 worth $140,000 after buying an additional 2,000 shares during the period. Sphera Management Technology Funds Ltd acquired a new position in Similarweb during the 4th quarter worth approximately $2,326,000. Two Sigma Advisers LP raised its stake in shares of Similarweb by 41.1% in the fourth quarter. Two Sigma Advisers LP now owns 43,600 shares of the company’s stock worth $618,000 after purchasing an additional 12,700 shares during the last quarter. Finally, Two Sigma Investments LP increased its position in shares of Similarweb by 49.1% during the fourth quarter. Two Sigma Investments LP now owns 255,372 shares of the company’s stock valued at $3,619,000 after acquiring an additional 84,136 shares during the last quarter. 57.59% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

A number of research analysts have recently commented on SMWB shares. Citigroup upped their price objective on shares of Similarweb from $14.00 to $22.00 and gave the company a “buy” rating in a research report on Tuesday, February 11th. Jefferies Financial Group upped their price target on Similarweb from $13.00 to $23.00 and gave the company a “buy” rating in a report on Monday, February 3rd. JMP Securities reissued a “market outperform” rating and set a $17.00 price objective on shares of Similarweb in a report on Thursday, February 13th. William Blair restated an “outperform” rating on shares of Similarweb in a research note on Thursday, December 19th. Finally, The Goldman Sachs Group began coverage on shares of Similarweb in a research note on Wednesday, December 11th. They issued a “buy” rating and a $16.00 price objective for the company. Nine research analysts have rated the stock with a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Buy” and a consensus target price of $16.50.

Similarweb Company Profile

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.