Similarweb’s (SMWB) Buy Rating Reiterated at Needham & Company LLC

Needham & Company LLC reissued their buy rating on shares of Similarweb (NYSE:SMWB) in a research note issued to investors on Wednesday morning,Benzinga reports. The brokerage currently has a $14.00 target price on the stock.

Several other research firms have also weighed in on SMWB. William Blair reissued an “outperform” rating on shares of Similarweb in a research note on Monday, September 9th. Northland Capmk raised Similarweb to a “strong-buy” rating in a research report on Tuesday, September 10th. JMP Securities raised their price target on Similarweb from $16.00 to $17.00 and gave the stock a “market outperform” rating in a research report on Thursday, November 14th. Citigroup raised their price target on Similarweb from $10.00 to $14.00 and gave the stock a “buy” rating in a research report on Thursday, November 14th. Finally, Northland Securities raised their price target on Similarweb from $15.00 to $17.00 and gave the stock an “outperform” rating in a research report on Tuesday, November 26th. Nine research analysts have rated the stock with a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, the stock has an average rating of “Buy” and an average price target of $13.50.

Similarweb Trading Down 1.7 %

NYSE:SMWB opened at $12.78 on Wednesday. Similarweb has a 1-year low of $4.91 and a 1-year high of $13.52. The business’s 50-day moving average price is $10.60 and its two-hundred day moving average price is $8.83. The firm has a market capitalization of $1.03 billion, a price-to-earnings ratio of -116.18 and a beta of 1.03.

Institutional Investors Weigh In On Similarweb

A number of hedge funds and other institutional investors have recently bought and sold shares of the company. Barclays PLC raised its position in Similarweb by 201.0% in the 3rd quarter. Barclays PLC now owns 15,414 shares of the company’s stock valued at $136,000 after buying an additional 10,293 shares during the last quarter. Public Employees Retirement System of Ohio acquired a new stake in Similarweb in the 3rd quarter valued at approximately $70,000. XTX Topco Ltd raised its position in Similarweb by 9.0% in the 3rd quarter. XTX Topco Ltd now owns 53,980 shares of the company’s stock valued at $477,000 after buying an additional 4,453 shares during the last quarter. State Street Corp raised its position in Similarweb by 32.5% in the 3rd quarter. State Street Corp now owns 187,919 shares of the company’s stock valued at $1,661,000 after buying an additional 46,102 shares during the last quarter. Finally, Centiva Capital LP bought a new position in Similarweb in the third quarter valued at approximately $212,000. Institutional investors and hedge funds own 57.59% of the company’s stock.

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.