Similarweb Ltd. (NYSE:SMWB) Receives $12.86 Average Target Price from Brokerages

Shares of Similarweb Ltd. (NYSE:SMWB) have earned an average rating of “Buy” from the nine research firms that are presently covering the firm, Marketbeat reports. Eight research analysts have rated the stock with a buy recommendation and one has issued a strong buy recommendation on the company. The average 1-year price objective among analysts that have updated their coverage on the stock in the last year is $12.86.

A number of equities analysts recently commented on the stock. Citigroup raised their price target on shares of Similarweb from $10.00 to $14.00 and gave the stock a “buy” rating in a research report on Thursday. Barclays raised their target price on shares of Similarweb from $9.00 to $10.00 and gave the company an “overweight” rating in a report on Thursday, August 8th. Needham & Company LLC raised their target price on shares of Similarweb from $11.00 to $14.00 and gave the company a “buy” rating in a report on Thursday. William Blair reissued an “outperform” rating on shares of Similarweb in a report on Monday, September 9th. Finally, Northland Securities assumed coverage on shares of Similarweb in a report on Tuesday, September 10th. They issued an “outperform” rating and a $15.00 target price on the stock.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently modified their holdings of SMWB. Public Employees Retirement System of Ohio acquired a new position in shares of Similarweb in the 3rd quarter worth approximately $70,000. Quantbot Technologies LP acquired a new position in shares of Similarweb during the 3rd quarter valued at $75,000. ANTIPODES PARTNERS Ltd lifted its position in shares of Similarweb by 122.5% during the 2nd quarter. ANTIPODES PARTNERS Ltd now owns 11,580 shares of the company’s stock valued at $90,000 after acquiring an additional 6,376 shares during the period. State of New Jersey Common Pension Fund D acquired a new position in shares of Similarweb during the 3rd quarter valued at $122,000. Finally, Barclays PLC lifted its position in shares of Similarweb by 201.0% during the 3rd quarter. Barclays PLC now owns 15,414 shares of the company’s stock valued at $136,000 after acquiring an additional 10,293 shares during the period. Institutional investors and hedge funds own 57.59% of the company’s stock.

Similarweb Stock Performance

NYSE:SMWB opened at $11.51 on Friday. Similarweb has a 52 week low of $4.58 and a 52 week high of $11.95. The firm has a market cap of $931.39 million, a price-to-earnings ratio of -104.64 and a beta of 0.84. The firm’s 50-day simple moving average is $9.07 and its 200 day simple moving average is $8.16.

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.