Similarweb (NYSE:SMWB) Reaches New 52-Week High – What’s Next?

Similarweb Ltd. (NYSE:SMWB)’s share price hit a new 52-week high on Wednesday . The company traded as high as $12.99 and last traded at $12.99, with a volume of 485749 shares changing hands. The stock had previously closed at $12.43.

Analyst Ratings Changes

A number of equities analysts have recently weighed in on SMWB shares. JMP Securities lifted their price target on shares of Similarweb from $16.00 to $17.00 and gave the stock a “market outperform” rating in a research report on Thursday, November 14th. Northland Securities boosted their price objective on shares of Similarweb from $15.00 to $17.00 and gave the company an “outperform” rating in a report on Tuesday, November 26th. William Blair reaffirmed an “outperform” rating on shares of Similarweb in a report on Monday, September 9th. Needham & Company LLC upped their price objective on shares of Similarweb from $11.00 to $14.00 and gave the stock a “buy” rating in a research report on Thursday, November 14th. Finally, Northland Capmk upgraded shares of Similarweb to a “strong-buy” rating in a research report on Tuesday, September 10th. Eight analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, the stock has an average rating of “Buy” and a consensus target price of $13.14.

Similarweb Trading Up 5.1 %

The company has a market capitalization of $1.06 billion, a P/E ratio of -114.55 and a beta of 1.03. The stock’s fifty day moving average is $9.94 and its 200 day moving average is $8.57.

Institutional Trading of Similarweb

Institutional investors have recently bought and sold shares of the company. P.A.W. Capital Corp purchased a new stake in shares of Similarweb during the 3rd quarter valued at about $3,536,000. Scalar Gauge Management LLC boosted its holdings in shares of Similarweb by 45.5% during the 3rd quarter. Scalar Gauge Management LLC now owns 863,923 shares of the company’s stock valued at $7,637,000 after acquiring an additional 270,000 shares during the last quarter. Connor Clark & Lunn Investment Management Ltd. boosted its holdings in shares of Similarweb by 112.7% during the 3rd quarter. Connor Clark & Lunn Investment Management Ltd. now owns 449,896 shares of the company’s stock valued at $3,977,000 after acquiring an additional 238,428 shares during the last quarter. Walleye Capital LLC boosted its holdings in shares of Similarweb by 115.9% during the 3rd quarter. Walleye Capital LLC now owns 354,653 shares of the company’s stock valued at $3,135,000 after acquiring an additional 190,380 shares during the last quarter. Finally, Acadian Asset Management LLC boosted its holdings in shares of Similarweb by 60.8% during the 2nd quarter. Acadian Asset Management LLC now owns 442,917 shares of the company’s stock valued at $3,427,000 after acquiring an additional 167,500 shares during the last quarter. 57.59% of the stock is owned by hedge funds and other institutional investors.

Similarweb Company Profile

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.