Similarweb (NYSE:SMWB) Hits New 52-Week High Following Analyst Upgrade

Similarweb Ltd. (NYSE:SMWB) reached a new 52-week high during trading on Friday after Northland Securities raised their price target on the stock from $17.00 to $20.00. Northland Securities currently has an outperform rating on the stock. Similarweb traded as high as $16.61 and last traded at $16.58, with a volume of 133801 shares trading hands. The stock had previously closed at $16.05.

A number of other equities analysts have also recently weighed in on SMWB. Citigroup upped their price target on shares of Similarweb from $10.00 to $14.00 and gave the stock a “buy” rating in a research note on Thursday, November 14th. JMP Securities reaffirmed a “market outperform” rating and issued a $17.00 target price on shares of Similarweb in a report on Wednesday, December 11th. Needham & Company LLC restated a “buy” rating and issued a $14.00 price target on shares of Similarweb in a report on Thursday, January 16th. William Blair reaffirmed an “outperform” rating on shares of Similarweb in a research note on Thursday, December 19th. Finally, The Goldman Sachs Group began coverage on Similarweb in a report on Wednesday, December 11th. They issued a “buy” rating and a $16.00 target price on the stock. Nine investment analysts have rated the stock with a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat, the stock presently has an average rating of “Buy” and an average target price of $13.88.

Hedge Funds Weigh In On Similarweb

Several institutional investors have recently added to or reduced their stakes in the business. Heck Capital Advisors LLC acquired a new position in Similarweb during the fourth quarter worth approximately $115,000. International Assets Investment Management LLC acquired a new stake in shares of Similarweb during the 4th quarter worth $154,000. JPMorgan Chase & Co. boosted its holdings in Similarweb by 147.4% in the third quarter. JPMorgan Chase & Co. now owns 171,539 shares of the company’s stock valued at $1,516,000 after acquiring an additional 102,192 shares during the last quarter. Barclays PLC boosted its holdings in Similarweb by 201.0% in the third 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. Finally, Public Employees Retirement System of Ohio acquired a new stake in Similarweb during the third quarter worth about $70,000. 57.59% of the stock is currently owned by institutional investors and hedge funds.

Similarweb Stock Performance

The company has a market capitalization of $1.33 billion, a PE ratio of -150.68 and a beta of 0.97. The business has a fifty day moving average price of $13.78 and a 200 day moving average price of $10.25.

Similarweb (NYSE:SMWB) last announced its quarterly earnings results on Tuesday, November 12th. The company reported ($0.03) earnings per share for the quarter, missing analysts’ consensus estimates of $0.04 by ($0.07). The business had revenue of $64.71 million for the quarter, compared to analysts’ expectations of $62.90 million. Similarweb had a negative return on equity of 44.83% and a negative net margin of 3.92%. During the same period last year, the company posted ($0.05) earnings per share. Research analysts forecast that Similarweb Ltd. will post -0.05 earnings per share for the current fiscal year.

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.