Similarweb (NYSE:SMWB) Reaches New 1-Year High – Here’s Why

Shares of Similarweb Ltd. (NYSE:SMWB) reached a new 52-week high during mid-day trading on Tuesday . The company traded as high as $14.84 and last traded at $14.66, with a volume of 499927 shares changing hands. The stock had previously closed at $14.56.

Analyst Ratings Changes

Several brokerages have recently issued reports on SMWB. Needham & Company LLC reiterated a “buy” rating and issued a $14.00 price objective on shares of Similarweb in a research note on Wednesday, December 11th. Citigroup increased their price objective on Similarweb from $10.00 to $14.00 and gave the company a “buy” rating in a report on Thursday, November 14th. The Goldman Sachs Group initiated coverage on Similarweb in a research note on Wednesday, December 11th. They set a “buy” rating and a $16.00 target price for the company. JMP Securities reissued a “market outperform” rating and set a $17.00 price objective on shares of Similarweb in a report on Wednesday, December 11th. Finally, Northland Securities upped their target price on shares of Similarweb from $15.00 to $17.00 and gave the company an “outperform” rating in a report on Tuesday, November 26th. Nine investment analysts have rated the stock with a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat.com, Similarweb has a consensus rating of “Buy” and an average target price of $13.50.

Similarweb Price Performance

The firm has a market capitalization of $1.19 billion, a PE ratio of -133.27 and a beta of 1.03. The business’s 50-day moving average price is $11.11 and its 200-day moving average price is $9.06.

Institutional Investors Weigh In On Similarweb

A number of institutional investors and hedge funds have recently made changes to their positions in the business. Public Employees Retirement System of Ohio acquired a new position in Similarweb in the 3rd quarter valued at about $70,000. Quantbot Technologies LP acquired a new position in shares of Similarweb in the third quarter valued at approximately $75,000. ANTIPODES PARTNERS Ltd raised its stake in shares of Similarweb by 122.5% during the second quarter. ANTIPODES PARTNERS Ltd now owns 11,580 shares of the company’s stock worth $90,000 after purchasing an additional 6,376 shares during the last quarter. State of New Jersey Common Pension Fund D acquired a new stake in shares of Similarweb during the third quarter worth $122,000. Finally, Barclays PLC grew 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. 57.59% of the stock is owned by hedge funds and other institutional investors.

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.