Similarweb (NYSE:SMWB) Coverage Initiated at Needham & Company LLC

Needham & Company LLC began coverage on shares of Similarweb (NYSE:SMWB) in a report issued on Monday, MarketBeat reports. The firm set a “buy” rating and a $11.00 price target on the stock. Needham & Company LLC’s price objective indicates a potential upside of 21.41% from the stock’s current price.

Several other analysts have also recently issued reports on SMWB. Barclays upped their price objective on Similarweb from $9.00 to $10.00 and gave the company an “overweight” rating in a research note on Thursday, August 8th. JMP Securities upped their price target on Similarweb from $14.00 to $16.00 and gave the company a “market outperform” rating in a research report on Wednesday, August 21st. Northland Capmk upgraded Similarweb to a “strong-buy” rating in a research note on Tuesday, September 10th. Northland Securities began coverage on shares of Similarweb in a research note on Tuesday, September 10th. They set an “outperform” rating and a $15.00 target price for the company. Finally, William Blair reissued an “outperform” rating on shares of Similarweb in a report on Monday, September 9th. Eight equities research 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, the company presently has a consensus rating of “Buy” and a consensus price target of $11.71.

Similarweb Trading Down 1.1 %

Shares of NYSE:SMWB opened at $9.06 on Monday. The firm has a market cap of $712.58 million, a PE ratio of -36.24 and a beta of 0.84. The company has a fifty day simple moving average of $8.80 and a 200 day simple moving average of $7.93. Similarweb has a 12-month low of $4.58 and a 12-month high of $9.76.

Similarweb (NYSE:SMWB) last released its earnings results on Tuesday, August 6th. The company reported ($0.01) earnings per share for the quarter, topping the consensus estimate of ($0.05) by $0.04. The company had revenue of $60.64 million during the quarter, compared to the consensus estimate of $60.23 million. Similarweb had a negative net margin of 5.07% and a negative return on equity of 60.53%. As a group, equities research analysts forecast that Similarweb will post -0.04 EPS for the current fiscal year.

Institutional Investors Weigh In On Similarweb

Hedge funds have recently added to or reduced their stakes in the stock. Cubist Systematic Strategies LLC raised its holdings in shares of Similarweb by 4.4% during the second quarter. Cubist Systematic Strategies LLC now owns 51,272 shares of the company’s stock valued at $398,000 after buying an additional 2,138 shares during the last quarter. California State Teachers Retirement System increased its position in Similarweb by 10.1% in the 1st quarter. California State Teachers Retirement System now owns 26,892 shares of the company’s stock valued at $242,000 after acquiring an additional 2,475 shares during the period. Blair William & Co. IL increased its position in Similarweb by 20.1% in the 1st quarter. Blair William & Co. IL now owns 21,662 shares of the company’s stock valued at $195,000 after acquiring an additional 3,621 shares during the period. Legato Capital Management LLC raised its stake in Similarweb by 4.5% during the 2nd quarter. Legato Capital Management LLC now owns 102,987 shares of the company’s stock valued at $800,000 after acquiring an additional 4,455 shares in the last quarter. Finally, Renaissance Technologies LLC boosted its position in Similarweb by 4.3% during the 2nd quarter. Renaissance Technologies LLC now owns 110,600 shares of the company’s stock worth $859,000 after acquiring an additional 4,599 shares during the period. 57.59% of the stock is currently owned by 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.