William Blair downgraded Similarweb (SMWB) to Market Perform from Outperform without a price target The firm sees a “challenging path” for the company to reaccelerate growth in 2026. The company’s AI data deals are “lumpy” and hard to forecast, the analyst tells investors in a research note. Blair cites Similarweb’s slowing core business and slipping large language model deals for the downgrade.
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