Equities Analysts Issue Forecasts for Similarweb Ltd.’s Q3 2024 Earnings (NYSE:SMWB)

Similarweb Ltd. (NYSE:SMWB) – Stock analysts at Northland Capmk issued their Q3 2024 EPS estimates for shares of Similarweb in a report issued on Tuesday, September 10th. Northland Capmk analyst L. Horton expects that the company will post earnings of ($0.02) per share for the quarter. Northland Capmk currently has a “Strong-Buy” rating on the stock. The consensus estimate for Similarweb’s current full-year earnings is ($0.05) per share. Northland Capmk also issued estimates for Similarweb’s Q4 2024 earnings at ($0.02) EPS, FY2024 earnings at ($0.04) EPS, Q1 2025 earnings at $0.00 EPS, Q2 2025 earnings at $0.01 EPS, Q3 2025 earnings at $0.02 EPS, Q4 2025 earnings at $0.03 EPS and FY2025 earnings at $0.07 EPS.

SMWB has been the topic of a number of other reports. Northland Securities initiated coverage on shares of Similarweb in a research report on Tuesday. They set an “outperform” rating and a $15.00 price objective on the stock. William Blair reissued an “outperform” rating on shares of Similarweb in a research report on Monday. Cantor Fitzgerald reissued an “overweight” rating and set a $10.00 price objective on shares of Similarweb in a research report on Wednesday, August 7th. Barclays upped 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. Finally, JMP Securities upped their target price on shares of Similarweb from $14.00 to $16.00 and gave the stock a “market outperform” rating in a research report on Wednesday, August 21st. Seven analysts have rated the stock with a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, Similarweb has an average rating of “Buy” and an average target price of $11.83.

Similarweb Trading Up 0.6 %

NYSE:SMWB opened at $9.57 on Friday. The company has a fifty day moving average of $7.80 and a 200 day moving average of $7.98. Similarweb has a 52 week low of $4.58 and a 52 week high of $9.76.

Similarweb (NYSE:SMWB) last posted its quarterly earnings results on Tuesday, August 6th. The company reported ($0.01) EPS for the quarter, beating analysts’ consensus estimates of ($0.05) by $0.04. Similarweb had a negative net margin of 5.07% and a negative return on equity of 60.53%. The company had revenue of $60.64 million during the quarter, compared to analyst estimates of $60.23 million.

Institutional Trading of Similarweb

Hedge funds and other institutional investors have recently modified their holdings of the business. Russell Investments Group Ltd. purchased a new stake in Similarweb during the 1st quarter valued at about $2,820,000. Oppenheimer & Co. Inc. purchased a new stake in Similarweb during the 1st quarter valued at about $654,000. Scalar Gauge Management LLC purchased a new stake in Similarweb during the 4th quarter valued at about $1,188,000. Acadian Asset Management LLC grew its position in Similarweb by 3,663.6% during the 1st quarter. Acadian Asset Management LLC now owns 275,417 shares of the company’s stock valued at $2,468,000 after purchasing an additional 268,099 shares during the last quarter. Finally, Circumference Group LLC bought a new position in Similarweb during the 4th quarter valued at about $725,000. 57.59% of the stock is 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.