Similarweb Ltd. (NYSE:SMWB) Receives $13.88 Average Price Target from Analysts

Similarweb Ltd. (NYSE:SMWB) has earned an average rating of “Buy” from the ten brokerages that are presently covering the company, Marketbeat reports. Nine research analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the company. The average 1-year target price among analysts that have updated their coverage on the stock in the last year is $15.50.

Several research firms recently commented on SMWB. William Blair restated an “outperform” rating on shares of Similarweb in a research report on Thursday, December 19th. Northland Securities raised their target price on Similarweb from $17.00 to $20.00 and gave the company an “outperform” rating in a research report on Friday, January 24th. Jefferies Financial Group upped their price target on Similarweb from $13.00 to $23.00 and gave the stock a “buy” rating in a report on Monday. The Goldman Sachs Group began coverage on Similarweb in a report on Wednesday, December 11th. They issued a “buy” rating and a $16.00 price objective on the stock. Finally, JMP Securities reaffirmed a “market outperform” rating and set a $17.00 target price on shares of Similarweb in a research note on Wednesday, December 11th.

Hedge Funds Weigh In On Similarweb

Several hedge funds and other institutional investors have recently made changes to their positions in the company. Jennison Associates LLC purchased a new stake in shares of Similarweb during the fourth quarter worth approximately $26,059,000. P.A.W. Capital Corp purchased a new stake in shares of Similarweb during the third quarter worth $3,536,000. Scalar Gauge Management LLC raised its position in shares of Similarweb by 45.5% in the third quarter. Scalar Gauge Management LLC now owns 863,923 shares of the company’s stock valued at $7,637,000 after buying an additional 270,000 shares during the last quarter. Connor Clark & Lunn Investment Management Ltd. lifted its stake in shares of Similarweb by 112.7% in the third quarter. Connor Clark & Lunn Investment Management Ltd. now owns 449,896 shares of the company’s stock worth $3,977,000 after buying an additional 238,428 shares in the last quarter. Finally, Walleye Capital LLC boosted its position in Similarweb by 115.9% during the third quarter. Walleye Capital LLC now owns 354,653 shares of the company’s stock worth $3,135,000 after acquiring an additional 190,380 shares during the last quarter. Hedge funds and other institutional investors own 57.59% of the company’s stock.

Similarweb Stock Up 3.8 %

Shares of SMWB opened at $17.32 on Wednesday. The company has a market capitalization of $1.40 billion, a price-to-earnings ratio of -157.47 and a beta of 0.97. Similarweb has a 52 week low of $5.71 and a 52 week high of $17.50. The stock’s 50-day moving average price is $14.48 and its 200-day moving average price is $10.84.

Similarweb (NYSE:SMWB) last released its quarterly earnings data on Tuesday, November 12th. The company reported ($0.03) EPS for the quarter, missing the consensus estimate of $0.04 by ($0.07). The company had revenue of $64.71 million during the quarter, compared to analysts’ expectations of $62.90 million. Similarweb had a negative return on equity of 44.83% and a negative net margin of 3.92%. During the same quarter in the prior year, the company posted ($0.05) EPS. As a group, equities analysts anticipate that Similarweb will post -0.05 EPS for the current fiscal year.

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.