Similarweb (NYSE:SMWB) Shares Gap Down – Should You Sell?

Similarweb Ltd. (NYSE:SMWB) shares gapped down before the market opened on Tuesday . The stock had previously closed at $12.80, but opened at $11.86. Similarweb shares last traded at $12.50, with a volume of 225,872 shares changing hands.

Analyst Ratings Changes

SMWB has been the subject of a number of recent analyst reports. Barclays boosted their price target on shares of Similarweb from $9.00 to $10.00 and gave the company an “overweight” rating in a research report on Thursday, August 8th. JMP Securities boosted their price target on shares of Similarweb from $16.00 to $17.00 and gave the company a “market outperform” rating in a research report on Thursday, November 14th. Northland Capmk upgraded shares of Similarweb to a “strong-buy” rating in a research report on Tuesday, September 10th. William Blair restated an “outperform” rating on shares of Similarweb in a research report on Monday, September 9th. Finally, Citigroup boosted their price target on shares of Similarweb from $10.00 to $14.00 and gave the company a “buy” rating in a research report on Thursday, November 14th. Eight investment analysts have rated the stock with a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat.com, Similarweb has an average rating of “Buy” and an average price target of $13.14.

Similarweb Stock Up 2.4 %

The firm’s 50-day moving average is $9.55 and its 200-day moving average is $8.40. The company has a market capitalization of $1.02 billion, a PE ratio of -114.55 and a beta of 0.84.

Institutional Trading of Similarweb

Several hedge funds have recently added to or reduced their stakes in SMWB. P.A.W. Capital Corp bought a new stake in Similarweb in the third quarter worth $3,536,000. Scalar Gauge Management LLC lifted its stake in Similarweb by 45.5% in the third quarter. Scalar Gauge Management LLC now owns 863,923 shares of the company’s stock worth $7,637,000 after purchasing an additional 270,000 shares during the last quarter. Connor Clark & Lunn Investment Management Ltd. lifted its stake in Similarweb by 112.7% in the third quarter. Connor Clark & Lunn Investment Management Ltd. now owns 449,896 shares of the company’s stock worth $3,977,000 after purchasing an additional 238,428 shares during the last quarter. Walleye Capital LLC lifted its stake in Similarweb by 115.9% in the third quarter. Walleye Capital LLC now owns 354,653 shares of the company’s stock worth $3,135,000 after purchasing an additional 190,380 shares during the last quarter. Finally, Acadian Asset Management LLC lifted its stake in Similarweb by 60.8% in the second quarter. Acadian Asset Management LLC now owns 442,917 shares of the company’s stock worth $3,427,000 after purchasing an additional 167,500 shares during the last quarter. 57.59% of the stock is owned by institutional investors.

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.