Similarweb Ltd. (NYSE:SMWB) Receives Average Recommendation of “Buy” from Brokerages

Shares of Similarweb Ltd. (NYSE:SMWB) have received a consensus recommendation of “Buy” from the nine research firms that are currently covering the firm, MarketBeat.com reports. Eight analysts have rated the stock with a buy recommendation and one has assigned a strong buy recommendation to the company. The average 1 year price target among analysts that have updated their coverage on the stock in the last year is $13.14.

SMWB has been the subject of several recent analyst reports. Northland Capmk raised Similarweb to a “strong-buy” rating in a research note on Tuesday, September 10th. Citigroup boosted their price target on shares of Similarweb from $10.00 to $14.00 and gave the stock a “buy” rating in a research note on Thursday, November 14th. Northland Securities boosted their target price on Similarweb from $15.00 to $17.00 and gave the stock an “outperform” rating in a research note on Tuesday, November 26th. William Blair reaffirmed an “outperform” rating on shares of Similarweb in a research report on Monday, September 9th. Finally, Needham & Company LLC boosted their price objective on Similarweb from $11.00 to $14.00 and gave the stock a “buy” rating in a research report on Thursday, November 14th.

Institutional Trading of Similarweb

Hedge funds and other institutional investors have recently made changes to their positions in the company. Connor Clark & Lunn Investment Management Ltd. grew its holdings in shares of Similarweb by 112.7% during 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 during the last quarter. Inspire Investing LLC acquired a new stake in Similarweb during the 3rd quarter worth approximately $886,000. Scalar Gauge Management LLC grew its stake in shares of Similarweb by 56.8% in the 2nd quarter. Scalar Gauge Management LLC now owns 593,923 shares of the company’s stock valued at $4,615,000 after purchasing an additional 215,221 shares during the last quarter. Cubist Systematic Strategies LLC increased its holdings in shares of Similarweb by 4.4% in the second quarter. Cubist Systematic Strategies LLC now owns 51,272 shares of the company’s stock valued at $398,000 after purchasing an additional 2,138 shares during the period. Finally, Atom Investors LP raised its stake in shares of Similarweb by 41.1% during the third quarter. Atom Investors LP now owns 143,942 shares of the company’s stock worth $1,272,000 after purchasing an additional 41,935 shares during the last quarter. Institutional investors and hedge funds own 57.59% of the company’s stock.

Similarweb Trading Down 3.1 %

Shares of SMWB opened at $12.40 on Tuesday. The firm has a 50-day moving average price of $10.26 and a 200 day moving average price of $8.71. Similarweb has a 12-month low of $4.91 and a 12-month high of $13.41. The firm has a market capitalization of $1.00 billion, a P/E ratio of -112.73 and a beta of 1.03.

About Similarweb

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.