The Goldman Sachs Group Issues Pessimistic Forecast for Similarweb (NYSE:SMWB) Stock Price

Similarweb (NYSE:SMWB) had its price target dropped by analysts at The Goldman Sachs Group from $15.00 to $13.00 in a note issued to investors on Friday,Benzinga reports. The firm presently has a “buy” rating on the stock. The Goldman Sachs Group’s target price indicates a potential upside of 54.76% from the stock’s current price.

SMWB has been the topic of a number of other reports. Needham & Company LLC reiterated a “buy” rating and issued a $14.00 price target on shares of Similarweb in a report on Thursday, February 13th. William Blair restated an “outperform” rating on shares of Similarweb in a report on Thursday, December 19th. Citigroup raised their target price on Similarweb from $14.00 to $22.00 and gave the stock a “buy” rating in a research note on Tuesday, February 11th. Jefferies Financial Group lifted their price objective on shares of Similarweb from $13.00 to $23.00 and gave the company a “buy” rating in a research note on Monday, February 3rd. Finally, Northland Securities increased their price objective on shares of Similarweb from $17.00 to $20.00 and gave the stock an “outperform” rating in a research note on Friday, January 24th. Nine research analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, the company has an average rating of “Buy” and an average price target of $16.13.

Similarweb Stock Performance

NYSE SMWB traded down $0.19 on Friday, reaching $8.40. 63,405 shares of the stock traded hands, compared to its average volume of 370,494. Similarweb has a 12 month low of $5.71 and a 12 month high of $17.64. The company has a fifty day moving average price of $12.02 and a 200-day moving average price of $11.48. The company has a market cap of $694.00 million, a price-to-earnings ratio of -60.50 and a beta of 1.08.

Similarweb (NYSE:SMWB) last posted its earnings results on Tuesday, February 11th. The company reported ($0.07) 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%. As a group, research analysts anticipate that Similarweb will post -0.24 earnings per share for the current fiscal year.

Institutional Trading of Similarweb

Several large investors have recently made changes to their positions in the company. Jennison Associates LLC acquired a new position in shares of Similarweb during the 4th quarter worth approximately $26,059,000. Schonfeld Strategic Advisors LLC purchased a new position in Similarweb in the fourth quarter worth approximately $22,536,000. T. Rowe Price Investment Management Inc. acquired a new stake in Similarweb during the fourth quarter worth $9,563,000. Victory Capital Management Inc. purchased a new stake in Similarweb in the fourth quarter valued at $6,090,000. Finally, Next Century Growth Investors LLC lifted its stake in shares of Similarweb by 146.7% in the 4th quarter. Next Century Growth Investors LLC now owns 699,128 shares of the company’s stock valued at $9,907,000 after purchasing an additional 415,792 shares during the last quarter. 57.59% of the stock is currently owned by hedge funds and other institutional investors.

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.