William Blair Reaffirms “Outperform” Rating for Similarweb (NYSE:SMWB)

William Blair reaffirmed their outperform rating on shares of Similarweb (NYSE:SMWB) in a research note released on Thursday morning,RTT News reports.

A number of other analysts also recently commented on SMWB. 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 report on Thursday, November 14th. The Goldman Sachs Group initiated coverage on Similarweb in a research report on Wednesday, December 11th. They issued a “buy” rating and a $16.00 target price for the company. Northland Capmk upgraded Similarweb to a “strong-buy” rating in a research report on Tuesday, September 10th. Northland Securities boosted their price objective on Similarweb from $15.00 to $17.00 and gave the stock an “outperform” rating in a research note on Tuesday, November 26th. 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. Nine investment analysts have rated the stock with a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat, Similarweb has a consensus rating of “Buy” and an average target price of $13.50.

Similarweb Stock Up 3.5 %

Shares of NYSE SMWB opened at $14.56 on Thursday. The stock has a market cap of $1.18 billion, a P/E ratio of -132.36 and a beta of 1.03. The firm’s 50-day simple moving average is $11.11 and its 200 day simple moving average is $9.04. Similarweb has a fifty-two week low of $4.96 and a fifty-two week high of $14.72.

Institutional Investors Weigh In On Similarweb

Institutional investors and hedge funds have recently modified their holdings of the stock. Connor Clark & Lunn Investment Management Ltd. boosted its position in shares of Similarweb by 112.7% in 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 purchasing an additional 238,428 shares during the period. Inspire Investing LLC acquired a new position in shares of Similarweb in the third quarter worth about $886,000. Scalar Gauge Management LLC increased its position in shares of Similarweb by 56.8% in the second quarter. Scalar Gauge Management LLC now owns 593,923 shares of the company’s stock worth $4,615,000 after acquiring an additional 215,221 shares in the last quarter. Cubist Systematic Strategies LLC increased its position 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 worth $398,000 after acquiring an additional 2,138 shares in the last quarter. Finally, Atom Investors LP raised its holdings in shares of Similarweb by 41.1% during the third quarter. Atom Investors LP now owns 143,942 shares of the company’s stock valued at $1,272,000 after acquiring an additional 41,935 shares during the period. 57.59% of the stock is owned by institutional investors and hedge funds.

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.