Similarweb (NYSE:SMWB) Lifted to “Hold” at Zacks Investment Research

Zacks Investment Research upgraded shares of Similarweb (NYSE:SMWB) from a sell rating to a hold rating in a research report sent to investors on Wednesday morning, Zacks.com reports.

According to Zacks, “Similarweb Ltd. is a website which provides web analytics services for businesses. Similarweb Ltd. is based in Israel. “

Shares of SMWB opened at $19.86 on Wednesday. The business has a 50 day moving average price of $20.83. Similarweb has a 52 week low of $17.81 and a 52 week high of $25.50.

Similarweb (NYSE:SMWB) last issued its earnings results on Wednesday, August 11th. The company reported ($0.33) EPS for the quarter, missing the consensus estimate of ($0.28) by ($0.05). The firm had revenue of $32.51 million during the quarter, compared to the consensus estimate of $30.33 million. Research analysts expect that Similarweb will post -1.07 earnings per share for the current year.

Several institutional investors and hedge funds have recently modified their holdings of SMWB. Cubist Systematic Strategies LLC acquired a new position in shares of Similarweb in the 2nd quarter worth approximately $42,000. Morgan Stanley acquired a new position in Similarweb during the 2nd quarter valued at approximately $175,000. Teacher Retirement System of Texas acquired a new position in Similarweb during the 2nd quarter valued at approximately $197,000. Carmignac Gestion acquired a new position in Similarweb during the 2nd quarter valued at approximately $236,000. Finally, Point72 Asset Management L.P. acquired a new position in Similarweb during the 2nd quarter valued at approximately $240,000. Institutional investors own 19.87% of the company’s stock.

About Similarweb

Similarweb Ltd. provides website traffic solutions through AI-driven data analytics worldwide. 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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