Similarweb Ltd. (NYSE:SMWB) Expected to Post Q3 2024 Earnings of ($0.02) Per Share

Similarweb Ltd. (NYSE:SMWB) – Investment analysts at Northland Capmk issued their Q3 2024 earnings per share estimates for shares of Similarweb in a report issued on Tuesday, September 10th. Northland Capmk analyst L. Horton forecasts that the company will post earnings per share of ($0.02) for the quarter. Northland Capmk 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.

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

Several other equities analysts have also recently issued reports on the company. Cantor Fitzgerald reissued an “overweight” rating and set a $10.00 target price on shares of Similarweb in a research note on Wednesday, August 7th. JMP Securities upped their price target on Similarweb from $14.00 to $16.00 and gave the company a “market outperform” rating in a report on Wednesday, August 21st. William Blair reissued an “outperform” rating on shares of Similarweb in a research report on Monday, September 9th. Barclays raised their price objective on Similarweb from $9.00 to $10.00 and gave the stock an “overweight” rating in a research note on Thursday, August 8th. Finally, Northland Securities began coverage on Similarweb in a research note on Tuesday, September 10th. They set an “outperform” rating and a $15.00 target price on the stock. Seven 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, the stock presently has a consensus rating of “Buy” and a consensus price target of $11.83.

Similarweb Price Performance

NYSE:SMWB opened at $8.16 on Friday. The business has a 50 day moving average of $7.82 and a 200 day moving average of $7.98. The company has a market capitalization of $641.78 million, a price-to-earnings ratio of -32.64 and a beta of 0.85. Similarweb has a 1-year low of $4.58 and a 1-year high of $9.76.

Institutional Trading of Similarweb

Several large investors have recently added to or reduced their stakes in SMWB. Russell Investments Group Ltd. purchased a new position in Similarweb during the first quarter worth approximately $2,820,000. Oppenheimer & Co. Inc. purchased a new position in Similarweb during the first quarter worth approximately $654,000. Scalar Gauge Management LLC purchased a new position in Similarweb during the fourth quarter worth approximately $1,188,000. Acadian Asset Management LLC boosted its position in Similarweb by 3,663.6% during the first quarter. Acadian Asset Management LLC now owns 275,417 shares of the company’s stock worth $2,468,000 after purchasing an additional 268,099 shares in the last quarter. Finally, Circumference Group LLC purchased a new position in Similarweb during the fourth quarter worth approximately $725,000. Hedge funds and other institutional investors own 57.59% of the company’s stock.

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.