Similarweb (NYSE:SMWB) Price Target Raised to $20.00 at Northland Securities

Similarweb (NYSE:SMWB) had its price target increased by research analysts at Northland Securities from $17.00 to $20.00 in a research report issued on Friday,Benzinga reports. The firm currently has an “outperform” rating on the stock. Northland Securities’ target price would suggest a potential upside of 25.03% from the company’s previous close.

SMWB has been the topic of a number of other research reports. William Blair reiterated an “outperform” rating on shares of Similarweb in a research report on Thursday, December 19th. The Goldman Sachs Group initiated coverage on shares of Similarweb in a research report on Wednesday, December 11th. They set a “buy” rating and a $16.00 price objective on the stock. Needham & Company LLC reaffirmed a “buy” rating and issued a $14.00 target price on shares of Similarweb in a research report on Thursday, January 16th. JMP Securities reiterated a “market outperform” rating and issued a $17.00 price target on shares of Similarweb in a report on Wednesday, December 11th. Finally, Citigroup raised their price objective on Similarweb from $10.00 to $14.00 and gave the company a “buy” rating in a research note on Thursday, November 14th. Nine analysts have rated the stock with a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of “Buy” and a consensus target price of $13.88.

Similarweb Trading Up 2.3 %

Shares of SMWB opened at $16.00 on Friday. The firm’s fifty day simple moving average is $13.78 and its two-hundred day simple moving average is $10.25. Similarweb has a 12 month low of $5.71 and a 12 month high of $16.33. The stock has a market capitalization of $1.29 billion, a P/E ratio of -145.42 and a beta of 0.97.

Similarweb (NYSE:SMWB) last announced its earnings results on Tuesday, November 12th. The company reported ($0.03) EPS for the quarter, missing the consensus estimate of $0.04 by ($0.07). The business had revenue of $64.71 million for the quarter, compared to the consensus estimate of $62.90 million. Similarweb had a negative net margin of 3.92% and a negative return on equity of 44.83%. During the same quarter in the previous year, the company earned ($0.05) EPS. As a group, research analysts predict that Similarweb will post -0.05 EPS for the current fiscal year.

Institutional Investors Weigh In On Similarweb

Institutional investors have recently bought and sold shares of the stock. Cubist Systematic Strategies LLC boosted its holdings in Similarweb by 4.4% during the 2nd quarter. Cubist Systematic Strategies LLC now owns 51,272 shares of the company’s stock worth $398,000 after acquiring an additional 2,138 shares during the last quarter. XTX Topco Ltd lifted its position in shares of Similarweb by 9.0% during the third quarter. XTX Topco Ltd now owns 53,980 shares of the company’s stock valued at $477,000 after purchasing an additional 4,453 shares in the last quarter. Renaissance Technologies LLC boosted its holdings in Similarweb by 4.3% during the second quarter. Renaissance Technologies LLC now owns 110,600 shares of the company’s stock worth $859,000 after purchasing an additional 4,599 shares during the last quarter. Public Employees Retirement System of Ohio bought a new stake in Similarweb in the 3rd quarter worth about $70,000. Finally, Heck Capital Advisors LLC purchased a new stake in Similarweb in the 4th quarter valued at about $115,000. 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.