Analysts Set Similarweb Ltd. (NYSE:SMWB) Price Target at $15.75

Similarweb Ltd. (NYSE:SMWB) has earned a consensus rating of “Buy” from the ten research firms that are covering the stock, MarketBeat.com reports. Nine analysts have rated the stock with a buy rating and one has given a strong buy rating to the company. The average 12-month target price among analysts that have updated their coverage on the stock in the last year is $15.75.

Several research firms recently commented on SMWB. The Goldman Sachs Group reduced their price objective on Similarweb from $13.00 to $10.00 and set a “buy” rating for the company in a report on Thursday, April 17th. Barclays reduced their price objective on Similarweb from $15.00 to $10.00 and set an “overweight” rating for the company in a report on Thursday, May 15th. JMP Securities reiterated a “market outperform” rating and issued a $17.00 price objective on shares of Similarweb in a report on Thursday, February 13th. Citigroup lifted their price objective on Similarweb from $14.00 to $22.00 and gave the stock a “buy” rating in a report on Tuesday, February 11th. Finally, 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.

Institutional Investors Weigh In On Similarweb

Large investors have recently made changes to their positions in the company. Y.D. More Investments Ltd grew its stake in shares of Similarweb by 6.3% during the 4th quarter. Y.D. More Investments Ltd now owns 1,449,634 shares of the company’s stock valued at $20,541,000 after purchasing an additional 86,500 shares during the period. Jennison Associates LLC purchased a new position in shares of Similarweb during the 4th quarter valued at about $26,059,000. Sei Investments Co. purchased a new position in shares of Similarweb during the 4th quarter valued at about $966,000. BNP Paribas Financial Markets purchased a new position in shares of Similarweb during the 4th quarter valued at about $1,254,000. Finally, Bank of America Corp DE lifted its position in shares of Similarweb by 145.0% during the 4th quarter. Bank of America Corp DE now owns 276,935 shares of the company’s stock valued at $3,924,000 after buying an additional 163,919 shares in the last quarter. 57.59% of the stock is currently owned by institutional investors.

Similarweb Price Performance

Shares of NYSE:SMWB opened at $7.91 on Tuesday. Similarweb has a 1-year low of $5.71 and a 1-year high of $17.64. The business has a fifty day moving average price of $7.36 and a 200-day moving average price of $10.81. The company has a market capitalization of $653.52 million, a PE ratio of -56.50 and a beta of 1.09.

Similarweb (NYSE:SMWB) last issued its quarterly earnings results on Tuesday, May 13th. The company reported ($0.11) earnings per share for the quarter, missing the consensus estimate of ($0.02) by ($0.09). Similarweb had a negative net margin of 4.58% and a negative return on equity of 47.62%. The company had revenue of $67.09 million for the quarter, compared to the consensus estimate of $66.37 million. On average, sell-side analysts anticipate that Similarweb will post -0.24 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.