As previously reported, Needham downgraded Similarweb (SMWB) to Hold from Buy and removed the firm’s prior $14 price target after the company reported below consensus Q4 revenue and bookings and guided FY26 revenues lower. The company has acknowledged some sales execution issues elongating sales cycles for the second time in a year, notes the analyst, who also sees “an air pocket of product adoption” while customers and brands move from a SEO-based mind set to a Gen AI Search powered one.
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