Similarweb (NYSE:SMWB) Stock Price Expected to Rise, JMP Securities Analyst Says

Similarweb (NYSE:SMWB) had its price objective raised by JMP Securities from $16.00 to $17.00 in a report released on Thursday,Benzinga reports. JMP Securities currently has a market outperform rating on the stock.

Other research analysts also recently issued reports about the company. Northland Securities began coverage on Similarweb in a report on Tuesday, September 10th. They set an “outperform” rating and a $15.00 price objective for the company. Needham & Company LLC lifted their price objective on shares of Similarweb from $11.00 to $14.00 and gave the company a “buy” rating in a report on Thursday. Northland Capmk upgraded shares of Similarweb to a “strong-buy” rating in a report on Tuesday, September 10th. Barclays lifted their price target on shares of Similarweb from $9.00 to $10.00 and gave the company an “overweight” rating in a research note on Thursday, August 8th. Finally, William Blair restated 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 given a strong buy rating to the stock. According to MarketBeat.com, Similarweb currently has an average rating of “Buy” and a consensus target price of $12.86.

Similarweb Stock Performance

NYSE SMWB traded down $0.30 on Thursday, reaching $11.55. The company had a trading volume of 264,709 shares, compared to its average volume of 200,737. The company’s fifty day moving average is $9.02 and its 200-day moving average is $8.12. Similarweb has a 1-year low of $4.58 and a 1-year high of $11.88. The firm has a market capitalization of $934.61 million, a price-to-earnings ratio of -105.09 and a beta of 0.84.

Hedge Funds Weigh In On Similarweb

Hedge funds and other institutional investors have recently bought and sold shares of the business. Russell Investments Group Ltd. bought a new position in Similarweb during the first quarter worth $2,820,000. Blair William & Co. IL boosted its holdings 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 buying an additional 3,621 shares during the period. Acadian Asset Management LLC grew its stake in Similarweb by 3,663.6% in the 1st quarter. Acadian Asset Management LLC now owns 275,417 shares of the company’s stock valued at $2,468,000 after buying an additional 268,099 shares during the last quarter. Roubaix Capital LLC bought a new position in Similarweb in the 1st quarter valued at about $2,449,000. Finally, Quadrature Capital Ltd acquired a new stake in Similarweb during the first quarter worth approximately $311,000. 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.