Similarweb (NYSE:SMWB) Shares Gap Down to $7.72

Similarweb Ltd. (NYSE:SMWBGet Rating)’s stock price gapped down before the market opened on Thursday . The stock had previously closed at $7.72, but opened at $7.32. Similarweb shares last traded at $7.21, with a volume of 400 shares traded.

Analyst Upgrades and Downgrades

SMWB has been the subject of a number of analyst reports. Cantor Fitzgerald initiated coverage on shares of Similarweb in a report on Tuesday, May 24th. They set an “overweight” rating and a $17.00 price objective for the company. JMP Securities reduced their price objective on shares of Similarweb from $32.00 to $20.00 in a report on Thursday, May 12th. Finally, Barclays reduced their price objective on shares of Similarweb from $22.00 to $14.00 and set an “overweight” rating for the company in a report on Thursday, August 11th.

Similarweb Stock Performance

The firm has a market cap of $549.73 million, a price-to-earnings ratio of -6.15 and a beta of 0.19. The business’s 50-day moving average is $8.78 and its 200-day moving average is $10.68.

Institutional Investors Weigh In On Similarweb

A number of hedge funds have recently made changes to their positions in SMWB. MQS Management LLC acquired a new stake in shares of Similarweb during the 2nd quarter worth about $86,000. Renaissance Technologies LLC acquired a new stake in Similarweb in the 2nd quarter valued at about $103,000. Goldman Sachs Group Inc. acquired a new stake in Similarweb in the 2nd quarter valued at about $109,000. Credit Suisse AG acquired a new stake in Similarweb in the 2nd quarter valued at about $132,000. Finally, UBS Group AG increased its position in Similarweb by 539.9% in the 1st 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. Institutional investors and hedge funds own 36.86% 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.

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