Northland Securities Increases Similarweb (NYSE:SMWB) Price Target to $20.00

Similarweb (NYSE:SMWB) had its price objective increased by stock analysts at Northland Securities from $17.00 to $20.00 in a research note issued to investors on Friday,Benzinga reports. The brokerage currently has an “outperform” rating on the stock. Northland Securities’ price objective would suggest a potential upside of 20.12% from the stock’s previous close.

SMWB has been the subject of a number of other research reports. William Blair reiterated an “outperform” rating on shares of Similarweb in a research report on Thursday, December 19th. Citigroup lifted their target price on shares of Similarweb from $10.00 to $14.00 and gave the company a “buy” rating in a research note on Thursday, November 14th. JMP Securities reissued a “market outperform” rating and issued a $17.00 target price on shares of Similarweb in a report on Wednesday, December 11th. The Goldman Sachs Group started coverage on Similarweb in a report on Wednesday, December 11th. They set a “buy” rating and a $16.00 price target for the company. Finally, Needham & Company LLC reissued a “buy” rating and issued a $14.00 price objective on shares of Similarweb in a research note on Thursday, January 16th. Nine equities research analysts have rated the stock with a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, the stock presently has a consensus rating of “Buy” and a consensus target price of $13.88.

Similarweb Trading Up 3.7 %

NYSE SMWB opened at $16.65 on Friday. Similarweb has a 1-year low of $5.71 and a 1-year high of $16.67. The company has a market capitalization of $1.35 billion, a price-to-earnings ratio of -151.36 and a beta of 0.97. The stock’s 50 day moving average is $13.88 and its two-hundred day moving average is $10.34.

Similarweb (NYSE:SMWB) last announced its quarterly earnings results on Tuesday, November 12th. The company reported ($0.03) EPS for the quarter, missing the consensus estimate of $0.04 by ($0.07). Similarweb had a negative net margin of 3.92% and a negative return on equity of 44.83%. The company had revenue of $64.71 million during the quarter, compared to analyst estimates of $62.90 million. During the same period in the prior year, the firm earned ($0.05) EPS. On average, analysts predict that Similarweb will post -0.05 earnings per share for the current year.

Hedge Funds Weigh In On Similarweb

Large investors have recently made changes to their positions in the company. Calamos Advisors LLC lifted its holdings in Similarweb by 147.4% in the fourth quarter. Calamos Advisors LLC now owns 171,167 shares of the company’s stock valued at $2,425,000 after buying an additional 101,975 shares during the period. Jennison Associates LLC bought a new stake in shares of Similarweb during the 4th quarter valued at $26,059,000. Heck Capital Advisors LLC acquired a new position in shares of Similarweb in the 4th quarter valued at $115,000. International Assets Investment Management LLC acquired a new position in shares of Similarweb in the 4th quarter valued at $154,000. Finally, JPMorgan Chase & Co. boosted its position in shares of Similarweb by 147.4% in the 3rd quarter. JPMorgan Chase & Co. now owns 171,539 shares of the company’s stock worth $1,516,000 after purchasing an additional 102,192 shares during the last quarter. Institutional investors and hedge funds 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.