Similarweb Ltd. (NYSE:SMWB) Receives $16.50 Consensus Target Price from Brokerages

Similarweb Ltd. (NYSE:SMWB) has been assigned an average rating of “Buy” from the ten research firms that are covering the company, Marketbeat Ratings reports. Nine analysts have rated the stock with a buy recommendation and one has given a strong buy recommendation to the company. The average 12 month price target among brokers that have issued ratings on the stock in the last year is $16.50.

Several analysts recently commented on the company. JMP Securities reaffirmed a “market outperform” rating and issued a $17.00 price objective on shares of Similarweb in a report on Thursday, February 13th. The Goldman Sachs Group assumed coverage on Similarweb in a report on Wednesday, December 11th. They issued a “buy” rating and a $16.00 price objective for the company. Northland Securities lifted their price objective on Similarweb from $17.00 to $20.00 and gave the stock an “outperform” rating in a report on Friday, January 24th. Needham & Company LLC reaffirmed a “buy” rating and issued a $14.00 price objective on shares of Similarweb in a report on Thursday, February 13th. Finally, Citigroup lifted their price objective on Similarweb from $14.00 to $22.00 and gave the stock a “buy” rating in a report on Tuesday, February 11th.

Hedge Funds Weigh In On Similarweb

Large investors have recently made changes to their positions in the business. Connor Clark & Lunn Investment Management Ltd. lifted its position in shares of Similarweb by 112.7% in the third quarter. Connor Clark & Lunn Investment Management Ltd. now owns 449,896 shares of the company’s stock valued at $3,977,000 after acquiring an additional 238,428 shares in the last quarter. State Street Corp lifted its position in shares of Similarweb by 32.5% in the third quarter. State Street Corp now owns 187,919 shares of the company’s stock valued at $1,661,000 after acquiring an additional 46,102 shares in the last quarter. Y.D. More Investments Ltd lifted its position in shares of Similarweb by 6.3% in the fourth quarter. Y.D. More Investments Ltd now owns 1,449,634 shares of the company’s stock valued at $20,541,000 after acquiring an additional 86,500 shares in the last quarter. JPMorgan Chase & Co. lifted its position in shares of Similarweb by 147.4% in the third quarter. JPMorgan Chase & Co. now owns 171,539 shares of the company’s stock valued at $1,516,000 after acquiring an additional 102,192 shares in the last quarter. Finally, Jennison Associates LLC purchased a new position in shares of Similarweb in the fourth quarter valued at about $26,059,000. 57.59% of the stock is currently owned by hedge funds and other institutional investors.

Similarweb Trading Down 1.1 %

Similarweb stock opened at $9.05 on Thursday. The firm has a market cap of $747.29 million, a price-to-earnings ratio of -64.60 and a beta of 1.08. The stock has a fifty day simple moving average of $12.52 and a two-hundred day simple moving average of $11.50. Similarweb has a 12 month low of $5.71 and a 12 month high of $17.64.

Similarweb (NYSE:SMWB) last posted its earnings results on Tuesday, February 11th. The company reported ($0.07) EPS for the quarter, missing analysts’ consensus estimates of $0.03 by ($0.10). Similarweb had a negative return on equity of 47.62% and a negative net margin of 4.58%. On average, equities research analysts forecast that Similarweb will post -0.24 EPS for the current fiscal year.

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.