Similarweb (NYSE:SMWB) Shares Gap Down After Earnings Miss

Similarweb Ltd. (NYSE:SMWB) gapped down prior to trading on Wednesday following a dissappointing earnings announcement. The stock had previously closed at $16.78, but opened at $10.67. Similarweb shares last traded at $10.98, with a volume of 2,330,619 shares.

The company reported ($0.07) earnings per share for the quarter, missing the consensus estimate of $0.03 by ($0.10). Similarweb had a negative return on equity of 44.83% and a negative net margin of 3.92%.

Wall Street Analysts Forecast Growth

SMWB has been the subject of several recent analyst reports. Needham & Company LLC reaffirmed a “buy” rating and set a $14.00 price objective on shares of Similarweb in a report on Thursday, January 16th. Northland Securities increased their price target on Similarweb from $17.00 to $20.00 and gave the stock an “outperform” rating in a research report on Friday, January 24th. The Goldman Sachs Group assumed coverage on Similarweb in a research report on Wednesday, December 11th. They issued a “buy” rating and a $16.00 price objective for the company. Citigroup increased their target price on Similarweb from $14.00 to $22.00 and gave the stock a “buy” rating in a report on Tuesday. Finally, William Blair restated an “outperform” rating on shares of Similarweb in a research note on Thursday, December 19th. Nine analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, Similarweb has an average rating of “Buy” and a consensus price target of $16.50.

Institutional Trading of Similarweb

Several institutional investors and hedge funds have recently added to or reduced their stakes in the company. Global Retirement Partners LLC acquired a new stake in shares of Similarweb during the 4th quarter worth approximately $29,000. New York State Common Retirement Fund bought a new position in Similarweb in the fourth quarter valued at approximately $39,000. Public Employees Retirement System of Ohio acquired a new stake in Similarweb during the 3rd quarter worth $70,000. Quantbot Technologies LP bought a new stake in shares of Similarweb during the 3rd quarter valued at $75,000. Finally, Heck Capital Advisors LLC bought a new stake in shares of Similarweb during the 4th quarter valued at $115,000. 57.59% of the stock is owned by institutional investors.

Similarweb Trading Down 29.2 %

The company has a market cap of $961.32 million, a price-to-earnings ratio of -108.00 and a beta of 0.99. The stock has a 50 day moving average price of $14.92 and a two-hundred day moving average price of $11.21.

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.