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

Similarweb Ltd. (NYSE:SMWB) has been assigned a consensus rating of “Buy” from the ten brokerages that are presently covering the stock, MarketBeat.com reports. Nine equities research analysts have rated the stock with a buy rating and one has given a strong buy rating to the company. The average 1 year target price among brokers that have covered the stock in the last year is $13.88.

SMWB has been the topic of a number of recent analyst reports. JMP Securities reissued a “market outperform” rating and issued a $17.00 price objective on shares of Similarweb in a research report on Wednesday, December 11th. Northland Securities raised their price target on Similarweb from $17.00 to $20.00 and gave the stock an “outperform” rating in a research note on Friday, January 24th. The Goldman Sachs Group began coverage on Similarweb in a research note on Wednesday, December 11th. They issued a “buy” rating and a $16.00 target price on the stock. Needham & Company LLC reaffirmed a “buy” rating and set a $14.00 price target on shares of Similarweb in a research note on Thursday, January 16th. Finally, William Blair reaffirmed an “outperform” rating on shares of Similarweb in a research note on Thursday, December 19th.

Similarweb Stock Down 4.7 %

SMWB stock opened at $16.21 on Wednesday. The firm has a market capitalization of $1.31 billion, a P/E ratio of -147.36 and a beta of 0.97. Similarweb has a 52 week low of $5.71 and a 52 week high of $17.39. The company has a fifty day simple moving average of $14.30 and a two-hundred day simple moving average of $10.66.

Similarweb (NYSE:SMWB) last posted 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). Similarweb had a negative return on equity of 44.83% and a negative net margin of 3.92%. The firm had revenue of $64.71 million for the quarter, compared to analysts’ expectations of $62.90 million. During the same period in the previous year, the firm earned ($0.05) earnings per share. As a group, analysts anticipate that Similarweb will post -0.05 EPS for the current year.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. Renaissance Technologies LLC increased its holdings in shares of Similarweb by 4.3% in the second quarter. Renaissance Technologies LLC now owns 110,600 shares of the company’s stock valued at $859,000 after purchasing an additional 4,599 shares during the period. Cubist Systematic Strategies LLC boosted its holdings in Similarweb by 4.4% during the second quarter. Cubist Systematic Strategies LLC now owns 51,272 shares of the company’s stock worth $398,000 after buying an additional 2,138 shares in the last quarter. Inspire Investing LLC acquired a new stake in Similarweb during the third quarter valued at $886,000. P.A.W. Capital Corp purchased a new position in Similarweb in the third quarter valued at $3,536,000. Finally, State of New Jersey Common Pension Fund D acquired a new position in shares of Similarweb in the third quarter worth about $122,000. 57.59% of the stock is currently owned by hedge funds and other institutional investors.

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.