The Goldman Sachs Group Has Lowered Expectations for Similarweb (NYSE:SMWB) Stock Price

Similarweb (NYSE:SMWB) had its target price cut by The Goldman Sachs Group from $13.00 to $10.00 in a report issued on Thursday morning,Benzinga reports. They currently have a buy rating on the stock.

A number of other equities analysts have also recently commented on SMWB. Citigroup boosted their price target on shares of Similarweb from $14.00 to $22.00 and gave the stock a “buy” rating in a research note on Tuesday, February 11th. JMP Securities reiterated a “market outperform” rating and issued a $17.00 target price on shares of Similarweb in a research report on Thursday, February 13th. Northland Securities raised their price target on Similarweb from $17.00 to $20.00 and gave the company an “outperform” rating in a research report on Friday, January 24th. Needham & Company LLC reiterated a “buy” rating and issued a $14.00 price objective on shares of Similarweb in a report on Thursday, February 13th. Finally, William Blair reissued an “outperform” rating on shares of Similarweb in a report on Thursday, December 19th. Nine 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.com, Similarweb presently has a consensus rating of “Buy” and an average target price of $15.75.

Similarweb Stock Performance

NYSE:SMWB opened at $6.79 on Thursday. Similarweb has a 52-week low of $5.71 and a 52-week high of $17.64. The stock has a fifty day moving average of $8.89 and a 200 day moving average of $11.29. The firm has a market capitalization of $560.98 million, a price-to-earnings ratio of -48.50 and a beta of 1.12.

Similarweb (NYSE:SMWB) last issued its quarterly 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 net margin of 4.58% and a negative return on equity of 47.62%. Equities analysts forecast that Similarweb will post -0.24 earnings per share for the current fiscal year.

Institutional Trading of Similarweb

Several hedge funds and other institutional investors have recently bought and sold shares of SMWB. Global Retirement Partners LLC bought a new position in shares of Similarweb in the fourth quarter worth approximately $29,000. New York State Common Retirement Fund bought a new stake in Similarweb in the 4th quarter worth $39,000. Public Employees Retirement System of Ohio purchased a new position in shares of Similarweb in the third quarter valued at about $70,000. Heck Capital Advisors LLC purchased a new position in shares of Similarweb in the fourth quarter valued at about $115,000. Finally, KLP Kapitalforvaltning AS bought a new position in shares of Similarweb during the fourth quarter valued at about $115,000. Institutional investors 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.