Similarweb Ltd (NYSE:SMWB) price on current trading day, fall -14.11% below its previous day’s close as a downside momentum from buyers pushed the stock’s value to $8.22.
A look at the stock’s price movement, the level at last check in today’s session was $9.57, moving within a range at $8.0 and $8.5. The beta value (5-Year monthly) was 0.847. Turning to its 52-week performance, $9.76 and $4.58 were the 52-week high and 52-week low respectively. Overall, SMWB moved 2.88% over the past month.
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Similarweb Ltd’s market cap currently stands at around $660.15 million, with investors looking forward to this quarter’s earnings report slated for on 2024-Aug-06.
Analysts have a consensus estimate of 62.75M for the company’s revenue for the quarter, with a low and high estimate of 62.4M and 63M respectively. Wall Street analysts have also projected the company’s year-on-year revenue to grow to 247.38M, representing a 13.50% jump on that reported in the last financial year.
Turning to the stock’s technical picture we see that short term indicators suggest on average that SMWB is a 50% Buy. On the other hand, the stock is on average a 50% Buy as suggested by medium term indicators while long term indicators are putting the stock in 100% Buy category.
4 analyst(s) have given their forecast ratings for the stock on a scale of 1.00-5.00 for a strong buy to strong sell recommendation. A total of 0 analyst(s) rate the stock as a Hold, 4 recommend SMWB as a Buy and 0 give it an Overweight rating. Meanwhile, 0 analyst(s) rate the stock as Underweight and 0 say it is a Sell. As such, the average rating for the stock is Buy which could provide an opportunity for investors keen on increasing their holdings of the company’s stock.
SMWB’s current price about -8.58% and 5.88% off the 20-day and 50-day simple moving averages respectively. The Relative Strength Index (RSI, 14) currently prints 44.22, while 7-day volatility ratio is 4.14% and 4.67% in the 30-day chart. Further, Similarweb Ltd (SMWB) has a beta value of 0.84, and an average true range (ATR) of 0.50. Analysts have given the company’s stock an average 52-week price target of $13, forecast between a low of $8 and high of $16. Looking at the price targets, the low is 2.68% off recent price level in today’s trading while to achieve the yearly target high, it has to move -94.65%. Nonetheless, investors will most likely welcome a -58.15% jump to $13 which is the analysts’ median price.
If we refocus on Similarweb Ltd (NYSE:SMWB), historical trading data shows that trading volumes averaged 0.23 over the past 10 days and 189.96K over the past 3 months. The company’s latest data on shares outstanding shows there are 78.65 million shares.
The 51.21% of Similarweb Ltd’s shares are in the hands of company insiders while institutional holders own 21.97% of the company’s shares. Also important is the data on short interest which shows that short shares stood at 81117.0 on 2024-08-30, giving us a short ratio of 0.29. The data shows that as of 2024-08-30 short interest in Similarweb Ltd (SMWB) stood at 23.0 of shares outstanding, with shares short rising to 61166.0 registered in 2024-07-31. Current price change has pushed the stock 54.22% YTD, which shows the potential for further growth is there. It is this reason that could see investor optimism for the SMWB stock continues to rise going into the next quarter.
