Similarweb (NYSE:SMWB) Stock Price Expected to Rise, Needham & Company LLC Analyst Says

Similarweb (NYSE:SMWB) had its target price boosted by Needham & Company LLC from $11.00 to $14.00 in a research note issued to investors on Thursday morning,Benzinga reports. The brokerage currently has a buy rating on the stock.

SMWB has been the subject of a number of other research reports. William Blair reaffirmed an “outperform” rating on shares of Similarweb in a research note on Monday, September 9th. Northland Securities assumed coverage on shares of Similarweb in a research report on Tuesday, September 10th. They issued an “outperform” rating and a $15.00 price target on the stock. Northland Capmk raised Similarweb to a “strong-buy” rating in a research note on Tuesday, September 10th. Cantor Fitzgerald reissued an “overweight” rating and issued a $10.00 price objective on shares of Similarweb in a research note on Wednesday, August 7th. Finally, JMP Securities upped their target price on Similarweb from $14.00 to $16.00 and gave the company a “market outperform” rating in a research note on Wednesday, August 21st. Eight research analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Buy” and an average price target of $12.86.

Similarweb Price Performance

Shares of SMWB traded down $0.33 during mid-day trading on Thursday, hitting $11.52. The stock had a trading volume of 409,916 shares, compared to its average volume of 201,042. The firm has a market cap of $932.19 million, a P/E ratio of -105.09 and a beta of 0.84. Similarweb has a 52 week low of $4.58 and a 52 week high of $11.95. The business has a fifty day moving average price of $9.02 and a 200-day moving average price of $8.12.

Hedge Funds Weigh In On Similarweb

A number of hedge funds and other institutional investors have recently made changes to their positions in SMWB. Cubist Systematic Strategies LLC raised its stake in Similarweb by 4.4% in 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. California State Teachers Retirement System raised its position in shares of Similarweb by 10.1% in the 1st quarter. California State Teachers Retirement System now owns 26,892 shares of the company’s stock worth $242,000 after acquiring an additional 2,475 shares in the last quarter. Blair William & Co. IL lifted its stake in shares of Similarweb by 20.1% during the 1st quarter. Blair William & Co. IL now owns 21,662 shares of the company’s stock worth $195,000 after purchasing an additional 3,621 shares during the last quarter. Legato Capital Management LLC boosted its position in Similarweb by 4.5% during the second quarter. Legato Capital Management LLC now owns 102,987 shares of the company’s stock valued at $800,000 after purchasing an additional 4,455 shares in the last quarter. Finally, Renaissance Technologies LLC boosted its holdings in shares of Similarweb by 4.3% in the 2nd quarter. Renaissance Technologies LLC now owns 110,600 shares of the company’s stock valued at $859,000 after buying an additional 4,599 shares in the last quarter. Institutional investors own 57.59% of the company’s stock.

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.