Similarweb’s (SMWB) Market Outperform Rating Reaffirmed at JMP Securities

Similarweb (NYSE:SMWB)‘s stock had its “market outperform” rating reissued by equities researchers at JMP Securities in a report released on Thursday,Benzinga reports. They currently have a $17.00 target price on the stock. JMP Securities’ price target would indicate a potential upside of 54.33% from the company’s previous close.

SMWB has been the topic of several other reports. The Goldman Sachs Group began coverage on Similarweb in a research report on Wednesday, December 11th. They issued a “buy” rating and a $16.00 price target on the stock. Needham & Company LLC reissued a “buy” rating and issued a $14.00 target price on shares of Similarweb in a report on Thursday. Northland Securities lifted their price target on shares of Similarweb from $17.00 to $20.00 and gave the company an “outperform” rating in a report on Friday, January 24th. Citigroup raised their price target on Similarweb from $14.00 to $22.00 and gave the company a “buy” rating in a report on Tuesday. Finally, Jefferies Financial Group increased their price target on Similarweb from $13.00 to $23.00 and gave the company a “buy” rating in a research note on Monday, February 3rd. Nine equities research analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Buy” and an average price target of $16.50.

Similarweb Stock Performance

Shares of SMWB stock traded down $0.86 during midday trading on Thursday, reaching $11.02. 257,684 shares of the company were exchanged, compared to its average volume of 847,148. The company has a market cap of $891.33 million, a P/E ratio of -100.53 and a beta of 0.99. Similarweb has a 12 month low of $5.71 and a 12 month high of $17.64. The company’s 50 day moving average price is $14.92 and its two-hundred day moving average price is $11.21.

Similarweb (NYSE:SMWB) last announced its earnings results on Tuesday, February 11th. The company reported ($0.07) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.03 by ($0.10). Similarweb had a negative return on equity of 44.83% and a negative net margin of 3.92%. As a group, sell-side analysts predict that Similarweb will post -0.05 earnings per share for the current year.

Institutional Investors Weigh In On Similarweb

A number of institutional investors and hedge funds have recently modified their holdings of the company. Meitav Investment House Ltd. increased its position in Similarweb by 17.0% during the fourth quarter. Meitav Investment House Ltd. now owns 12,846 shares of the company’s stock worth $182,000 after buying an additional 1,870 shares during the last quarter. Global Retirement Partners LLC acquired a new position in shares of Similarweb in the fourth quarter valued at $29,000. New York State Common Retirement Fund bought a new stake in shares of Similarweb during the 4th quarter worth about $39,000. XTX Topco Ltd grew its stake in Similarweb by 9.0% in the 3rd quarter. XTX Topco Ltd now owns 53,980 shares of the company’s stock valued at $477,000 after buying an additional 4,453 shares during the last quarter. Finally, Oppenheimer & Co. Inc. raised its holdings in Similarweb by 4.3% in the 4th quarter. Oppenheimer & Co. Inc. now owns 111,149 shares of the company’s stock valued at $1,575,000 after acquiring an additional 4,542 shares during the period. 57.59% of the stock is owned by institutional investors.

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.