JPMorgan States How Amazon's Loss Could Be Similarweb's Gain

JPMorgan analyst Sterling Auty noted that Amazon.com Inc AMZN has decided to shut down the popular web traffic and ranking service "Alexa Rank."
Alexa Rank had millions of monthly visitors and decent subscription revenue.
He believes these visitors, and subscription revenues, are "perfectly suited to move over to Similarweb Ltd SMWB in the coming quarters." The migration could provide a "nice lift" for a company already showing 46% revenue growth last quarter and poised to benefit from key trends in the industry.
In addition, a shift away from cookies for digital tracking of users online could significantly increase the value of the SimilarWeb data set and analytics platform, said Auty, who has an Overweight rating on the shares.
Similarweb provides a platform for digital intelligence, delivering a view of the digital world that empowers its customers to be competitive in markets.
Similarweb reported the availability of a free website-ranking API to help Alexa.com customers affected by Amazon's decision to sunset that service in May 2022.
Price Action: SMWB shares traded lower by 6.07% at $15.31 on the last check Friday.

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