Citigroup Issues Positive Forecast for Similarweb (NYSE:SMWB) Stock Price

Similarweb (NYSE:SMWB) had its target price lifted by Citigroup from $14.00 to $22.00 in a research report issued to clients and investors on Tuesday,Benzinga reports. The firm currently has a “buy” rating on the stock. Citigroup’s price target would indicate a potential upside of 29.02% from the stock’s current price.

Several other equities research analysts have also commented on SMWB. The Goldman Sachs Group initiated coverage on shares of Similarweb in a research note on Wednesday, December 11th. They set a “buy” rating and a $16.00 price target on the stock. William Blair reiterated an “outperform” rating on shares of Similarweb in a research report on Thursday, December 19th. Jefferies Financial Group raised their price target on Similarweb from $13.00 to $23.00 and gave the stock a “buy” rating in a research note on Monday, February 3rd. Needham & Company LLC reaffirmed a “buy” rating and set a $14.00 price target on shares of Similarweb in a research report on Thursday, January 16th. Finally, JMP Securities reissued a “market outperform” rating and issued a $17.00 price objective on shares of Similarweb in a report on Wednesday, December 11th. Nine research analysts have rated the stock with a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat, the company presently has a consensus rating of “Buy” and a consensus target price of $16.50.

Similarweb Price Performance

NYSE:SMWB opened at $17.05 on Tuesday. The firm has a market capitalization of $1.38 billion, a PE ratio of -155.02 and a beta of 0.99. The business’s fifty day moving average price is $14.86 and its 200 day moving average price is $11.14. 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, November 12th. The company reported ($0.03) earnings per share for the quarter, missing the consensus estimate of $0.04 by ($0.07). The business had revenue of $64.71 million for the quarter, compared to analysts’ expectations of $62.90 million. Similarweb had a negative return on equity of 44.83% and a negative net margin of 3.92%. During the same quarter in the previous year, the firm earned ($0.05) EPS. As a group, equities analysts anticipate that Similarweb will post -0.05 EPS for the current year.

Institutional Investors Weigh In On Similarweb

Large investors have recently modified their holdings of the stock. Jennison Associates LLC purchased a new position in Similarweb during the 4th quarter worth $26,059,000. Y.D. More Investments Ltd lifted its position in 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 purchasing an additional 86,500 shares during the period. Scalar Gauge Management LLC increased its position in Similarweb by 45.5% during the 3rd quarter. Scalar Gauge Management LLC now owns 863,923 shares of the company’s stock worth $7,637,000 after purchasing an additional 270,000 shares during the period. Connor Clark & Lunn Investment Management Ltd. raised its stake in shares of Similarweb by 50.6% during the 4th quarter. Connor Clark & Lunn Investment Management Ltd. now owns 677,465 shares of the company’s stock worth $9,600,000 after buying an additional 227,569 shares in the last quarter. Finally, Victory Capital Management Inc. acquired a new stake in shares of Similarweb in the 4th quarter valued at approximately $6,090,000. Hedge funds and other 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.