Citigroup Increases Similarweb (NYSE:SMWB) Price Target to $14.00

Similarweb (NYSE:SMWB) had its target price raised by equities researchers at Citigroup from $10.00 to $14.00 in a note issued to investors on Thursday,Benzinga reports. The brokerage currently has a “buy” rating on the stock. Citigroup’s target price indicates a potential upside of 21.63% from the stock’s current price.

SMWB has been the topic of several other research reports. Northland Capmk raised shares of Similarweb to a “strong-buy” rating in a report on Tuesday, September 10th. JMP Securities raised their price objective on shares of Similarweb from $16.00 to $17.00 and gave the company a “market outperform” rating in a research report on Thursday. William Blair reaffirmed an “outperform” rating on shares of Similarweb in a report on Monday, September 9th. Northland Securities started coverage on Similarweb in a report on Tuesday, September 10th. They set an “outperform” rating and a $15.00 price target on the stock. Finally, Cantor Fitzgerald restated an “overweight” rating and issued a $10.00 price objective on shares of Similarweb in a research report on Wednesday, August 7th. Eight analysts have rated the stock with a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, Similarweb has a consensus rating of “Buy” and an average price target of $12.86.

Similarweb Stock Down 2.9 %

SMWB stock opened at $11.51 on Thursday. The business’s 50-day moving average price is $9.07 and its 200-day moving average price is $8.14. The stock has a market cap of $931.38 million, a P/E ratio of -104.64 and a beta of 0.84. Similarweb has a twelve month low of $4.58 and a twelve month high of $11.95.

Institutional Investors Weigh In On Similarweb

A number of hedge funds have recently made changes to their positions in SMWB. Public Employees Retirement System of Ohio bought a new stake in Similarweb in the third quarter worth $70,000. Quantbot Technologies LP bought a new stake in shares of Similarweb in the 3rd quarter worth about $75,000. ANTIPODES PARTNERS Ltd raised 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 buying an additional 6,376 shares in the last quarter. State of New Jersey Common Pension Fund D bought a new position in shares of Similarweb in the 3rd quarter valued at about $122,000. Finally, Barclays PLC lifted its holdings in shares of Similarweb by 201.0% in 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 last quarter. 57.59% of the stock is currently owned by hedge funds and other 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.