Similarweb Ltd. (NYSE:SMWB) Receives Consensus Rating of “Buy” from Analysts

Similarweb Ltd. (NYSE:SMWB) has received a consensus recommendation of “Buy” from the ten research firms that are covering the firm, Marketbeat reports. Nine research analysts have rated the stock with a buy rating and one has given a strong buy rating to the company. The average 1-year price objective among brokers that have issued a report on the stock in the last year is $13.50.

Several research firms have recently weighed in on SMWB. Needham & Company LLC reiterated a “buy” rating and set a $14.00 target price on shares of Similarweb in a research report on Wednesday, December 11th. The Goldman Sachs Group assumed coverage on shares of Similarweb in a report on Wednesday, December 11th. They set a “buy” rating and a $16.00 price objective for the company. William Blair restated an “outperform” rating on shares of Similarweb in a research note on Thursday, December 19th. JMP Securities reaffirmed a “market outperform” rating and set a $17.00 target price on shares of Similarweb in a research report on Wednesday, December 11th. Finally, Northland Securities boosted their price target on Similarweb from $15.00 to $17.00 and gave the company an “outperform” rating in a report on Tuesday, November 26th.

Similarweb Price Performance

SMWB opened at $14.90 on Friday. The business has a fifty day moving average of $12.55 and a 200 day moving average of $9.67. The stock has a market cap of $1.21 billion, a P/E ratio of -135.45 and a beta of 0.97. Similarweb has a 52-week low of $5.25 and a 52-week high of $15.10.

Institutional Trading of Similarweb

A number of hedge funds have recently bought and sold shares of SMWB. Connor Clark & Lunn Investment Management Ltd. increased its holdings in shares of Similarweb by 112.7% in the 3rd quarter. Connor Clark & Lunn Investment Management Ltd. now owns 449,896 shares of the company’s stock valued at $3,977,000 after acquiring an additional 238,428 shares during the period. State Street Corp boosted its position in Similarweb by 32.5% during the third quarter. State Street Corp now owns 187,919 shares of the company’s stock valued at $1,661,000 after purchasing an additional 46,102 shares in the last quarter. Inspire Investing LLC purchased a new position in Similarweb in the third quarter valued at about $886,000. Scalar Gauge Management LLC raised its holdings in Similarweb by 56.8% in the second quarter. Scalar Gauge Management LLC now owns 593,923 shares of the company’s stock worth $4,615,000 after purchasing an additional 215,221 shares in the last quarter. Finally, Atom Investors LP raised its holdings in Similarweb by 41.1% in the third quarter. Atom Investors LP now owns 143,942 shares of the company’s stock worth $1,272,000 after purchasing an additional 41,935 shares in the last quarter. 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.