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

Similarweb Ltd. (NYSE:SMWB)’s share price 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.

Wall Street Analysts Forecast Growth

Several equities analysts have commented on SMWB shares. JMP Securities lifted their target price on shares of Similarweb from $16.00 to $17.00 and gave the stock a “market outperform” rating in a research report on Thursday, November 14th. Cantor Fitzgerald reissued an “overweight” rating and set a $10.00 target price on shares of Similarweb in a research report on Wednesday, August 7th. Barclays lifted their target price on shares of Similarweb from $9.00 to $10.00 and gave the stock an “overweight” rating in a research report on Thursday, August 8th. Northland Capmk raised shares of Similarweb to a “strong-buy” rating in a research report on Tuesday, September 10th. Finally, Needham & Company LLC lifted their target price on shares of Similarweb from $11.00 to $14.00 and gave the stock a “buy” rating in a research report on Thursday, November 14th. Eight equities research analysts have rated the stock with a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, Similarweb has a consensus rating of “Buy” and a consensus target price of $13.14.

Similarweb Trading Up 2.4 %

The company has a market cap of $1.02 billion, a P/E ratio of -114.55 and a beta of 0.84. The business’s fifty day moving average is $9.55 and its 200 day moving average is $8.40.

Institutional Inflows and Outflows

Hedge funds have recently bought and sold shares of the business. Public Employees Retirement System of Ohio purchased a new position in Similarweb in the 3rd quarter valued at approximately $70,000. Quantbot Technologies LP purchased a new position in Similarweb in the 3rd quarter valued at approximately $75,000. ANTIPODES PARTNERS Ltd grew its stake in Similarweb by 122.5% in the 2nd quarter. ANTIPODES PARTNERS Ltd now owns 11,580 shares of the company’s stock valued at $90,000 after buying an additional 6,376 shares in the last quarter. State of New Jersey Common Pension Fund D purchased a new position in Similarweb in the 3rd quarter valued at approximately $122,000. Finally, Barclays PLC grew its stake in Similarweb by 201.0% in the 3rd quarter. Barclays PLC now owns 15,414 shares of the company’s stock valued at $136,000 after buying an additional 10,293 shares in the last quarter. 57.59% of the stock is currently owned by hedge funds and other institutional investors.

About Similarweb

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.