Similarweb Ltd. (NYSE:SMWB) Receives $16.13 Average Target Price from Analysts

Similarweb Ltd. (NYSE:SMWB) has been given a consensus recommendation of “Buy” by the ten brokerages that are currently covering the firm, MarketBeat.com reports. Nine investment analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the company. The average 1 year price target among brokers that have updated their coverage on the stock in the last year is $15.75.

SMWB has been the subject of a number of recent research reports. Jefferies Financial Group upped their target price on Similarweb from $13.00 to $23.00 and gave the company a “buy” rating in a research note on Monday, February 3rd. Northland Securities increased their price objective on shares of Similarweb from $17.00 to $20.00 and gave the company an “outperform” rating in a research note on Friday, January 24th. JMP Securities reiterated a “market outperform” rating and set a $17.00 target price on shares of Similarweb in a research report on Thursday, February 13th. Citigroup upped their target price on shares of Similarweb from $14.00 to $22.00 and gave the company a “buy” rating in a research note on Tuesday, February 11th. Finally, Needham & Company LLC restated a “buy” rating and set a $14.00 price target on shares of Similarweb in a research note on Thursday, February 13th.

Similarweb Trading Up 1.0 %

SMWB opened at $6.79 on Monday. The business has a 50 day moving average of $8.69 and a 200-day moving average of $11.28. The stock has a market capitalization of $560.98 million, a price-to-earnings ratio of -48.50 and a beta of 1.12. Similarweb has a 1-year low of $5.71 and a 1-year high of $17.64.

Similarweb (NYSE:SMWB) last posted its quarterly earnings results on Tuesday, February 11th. The company reported ($0.07) earnings per share (EPS) for the quarter, missing the consensus estimate of $0.03 by ($0.10). Similarweb had a negative return on equity of 47.62% and a negative net margin of 4.58%. Equities analysts predict that Similarweb will post -0.24 EPS for the current year.

Institutional Trading of Similarweb

Several large investors have recently added to or reduced their stakes in SMWB. Jennison Associates LLC bought a new position in shares of Similarweb in the fourth quarter valued at about $26,059,000. Schonfeld Strategic Advisors LLC acquired a new stake in Similarweb in the 4th quarter valued at about $22,536,000. T. Rowe Price Investment Management Inc. bought a new position in shares of Similarweb in the fourth quarter worth about $9,563,000. Victory Capital Management Inc. acquired a new position in shares of Similarweb during the fourth quarter worth approximately $6,090,000. Finally, Next Century Growth Investors LLC grew its stake in shares of Similarweb by 146.7% during the fourth quarter. Next Century Growth Investors LLC now owns 699,128 shares of the company’s stock valued at $9,907,000 after purchasing an additional 415,792 shares during the last quarter. 57.59% of the stock is owned by institutional investors.

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.