Similarweb (NYSE:SMWB) Price Target Raised to $14.00 at Needham & Company LLC

Similarweb (NYSE:SMWB) had its target price increased by Needham & Company LLC from $11.00 to $14.00 in a research report report published on Thursday morning,Benzinga reports. The brokerage currently has a buy rating on the stock.

Other research analysts have also recently issued research reports about the stock. Northland Capmk upgraded shares of Similarweb to a “strong-buy” rating in a report on Tuesday, September 10th. Northland Securities initiated coverage on shares of Similarweb in a research report on Tuesday, September 10th. They issued an “outperform” rating and a $15.00 target price for the company. Barclays boosted their price target on Similarweb from $9.00 to $10.00 and gave the company an “overweight” rating in a research note on Thursday, August 8th. JMP Securities upped their target price on Similarweb from $14.00 to $16.00 and gave the stock a “market outperform” rating in a research note on Wednesday, August 21st. Finally, Cantor Fitzgerald restated an “overweight” rating and issued a $10.00 price objective on shares of Similarweb in a report on Wednesday, August 7th. Eight research analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of “Buy” and an average target price of $12.86.

Similarweb Stock Down 2.9 %

Shares of SMWB stock opened at $11.51 on Thursday. The firm has a fifty day moving average of $9.07 and a 200-day moving average of $8.16. Similarweb has a 12-month low of $4.58 and a 12-month high of $11.95. The company has a market capitalization of $931.39 million, a price-to-earnings ratio of -104.64 and a beta of 0.84.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently made changes to their positions in SMWB. Barclays PLC lifted its position in Similarweb by 201.0% during the third quarter. Barclays PLC now owns 15,414 shares of the company’s stock valued at $136,000 after purchasing an additional 10,293 shares during the period. Public Employees Retirement System of Ohio bought a new position in Similarweb in the third quarter worth approximately $70,000. XTX Topco Ltd increased its stake in shares of Similarweb by 9.0% in the third quarter. XTX Topco Ltd now owns 53,980 shares of the company’s stock worth $477,000 after purchasing an additional 4,453 shares in the last quarter. State Street Corp increased its stake in shares of Similarweb by 32.5% in the third quarter. State Street Corp now owns 187,919 shares of the company’s stock worth $1,661,000 after purchasing an additional 46,102 shares in the last quarter. Finally, Centiva Capital LP purchased a new position in Similarweb during the third quarter valued at $212,000. 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.