The Goldman Sachs Group Issues Pessimistic Forecast for Similarweb (NYSE:SMWB) Stock Price

Similarweb (NYSE:SMWB) had its price objective reduced by stock analysts at The Goldman Sachs Group from $15.00 to $13.00 in a report released on Friday,Benzinga reports. The firm presently has a “buy” rating on the stock. The Goldman Sachs Group’s price target suggests a potential upside of 54.98% from the stock’s current price.

Other analysts also recently issued research reports about the company. William Blair restated an “outperform” rating on shares of Similarweb in a research note on Thursday, December 19th. Jefferies Financial Group upped their price objective on Similarweb from $13.00 to $23.00 and gave the stock a “buy” rating in a research report on Monday, February 3rd. JMP Securities reiterated a “market outperform” rating and issued a $17.00 target price on shares of Similarweb in a research note on Thursday, February 13th. Northland Securities increased their price target on shares of Similarweb from $17.00 to $20.00 and gave the stock an “outperform” rating in a report on Friday, January 24th. Finally, Citigroup lifted their price objective on shares of Similarweb from $14.00 to $22.00 and gave the company a “buy” rating in a report on Tuesday, February 11th. Nine analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat, the company currently has an average rating of “Buy” and a consensus price target of $16.13.

Similarweb Stock Down 2.4 %

Shares of NYSE SMWB opened at $8.39 on Friday. Similarweb has a 52 week low of $5.71 and a 52 week high of $17.64. The firm has a market cap of $693.01 million, a P/E ratio of -59.91 and a beta of 1.08. The business’s 50 day moving average price is $11.87 and its 200 day moving average price is $11.49.

Similarweb (NYSE:SMWB) last released its quarterly earnings data on Tuesday, February 11th. The company reported ($0.07) earnings per share 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%. As a group, research analysts expect that Similarweb will post -0.24 earnings per share for the current year.

Hedge Funds Weigh In On Similarweb

A number of institutional investors and hedge funds have recently bought and sold shares of the business. Global Retirement Partners LLC acquired a new stake in Similarweb in the 4th quarter valued at about $29,000. New York State Common Retirement Fund acquired a new position in Similarweb during the fourth quarter worth $39,000. Public Employees Retirement System of Ohio acquired a new position in Similarweb during the third quarter worth $70,000. KLP Kapitalforvaltning AS purchased a new position in shares of Similarweb during the 4th quarter worth $115,000. Finally, Heck Capital Advisors LLC purchased a new stake in shares of Similarweb in the fourth quarter valued at about $115,000. 57.59% of the stock is currently owned by institutional investors and hedge funds.

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.