Similarweb (NYSE:SMWB) Price Target Raised to $17.00

Similarweb (NYSE:SMWB) had its price objective increased by research analysts at Northland Securities from $15.00 to $17.00 in a research note issued to investors on Tuesday,Benzinga reports. The brokerage currently has an “outperform” rating on the stock. Northland Securities’ target price suggests a potential upside of 32.61% from the stock’s previous close.

A number of other research analysts have also issued reports on SMWB. Cantor Fitzgerald restated an “overweight” rating and set a $10.00 target price on shares of Similarweb in a research report on Wednesday, August 7th. Northland Capmk raised Similarweb to a “strong-buy” rating in a research report on Tuesday, September 10th. Citigroup raised their price objective on Similarweb from $10.00 to $14.00 and gave the stock a “buy” rating in a research note on Thursday, November 14th. Barclays upped their target price on Similarweb from $9.00 to $10.00 and gave the company an “overweight” rating in a research report on Thursday, August 8th. Finally, Needham & Company LLC raised their price target on Similarweb from $11.00 to $14.00 and gave the stock a “buy” rating in a research report on Thursday, November 14th. Eight equities research analysts have rated the stock with a buy rating and one has given a strong buy rating to the company. According to MarketBeat, the stock currently has an average rating of “Buy” and a consensus price target of $13.14.

Similarweb Stock Performance

Shares of Similarweb stock opened at $12.82 on Tuesday. The firm has a 50-day moving average of $9.47 and a 200-day moving average of $8.37. Similarweb has a 52-week low of $4.58 and a 52-week high of $12.99. The stock has a market cap of $1.04 billion, a PE ratio of -116.55 and a beta of 0.84.

Hedge Funds Weigh In On Similarweb

A number of institutional investors have recently modified their holdings of SMWB. Public Employees Retirement System of Ohio bought a new position in Similarweb in the third quarter valued at about $70,000. Quantbot Technologies LP acquired a new stake in shares of Similarweb in the 3rd quarter valued at approximately $75,000. ANTIPODES PARTNERS Ltd grew its holdings 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 purchasing an additional 6,376 shares during the last quarter. State of New Jersey Common Pension Fund D bought a new stake in shares of Similarweb during the third quarter worth $122,000. Finally, Barclays PLC increased its holdings in shares of Similarweb by 201.0% during the third quarter. Barclays PLC now owns 15,414 shares of the company’s stock worth $136,000 after buying an additional 10,293 shares in the last quarter. Institutional investors and hedge funds own 57.59% of the company’s stock.

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.