Similarweb Ltd. (NYSE:SMWB) Receives $13.88 Consensus Target Price from Brokerages

Shares of Similarweb Ltd. (NYSE:SMWB) have been given an average recommendation of “Buy” by the ten ratings firms that are currently covering the stock, MarketBeat Ratings reports. Nine analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the company. The average 1-year target price among brokerages that have updated their coverage on the stock in the last year is $13.88.

A number of research firms have issued reports on SMWB. Northland Securities boosted their price objective on shares of Similarweb from $17.00 to $20.00 and gave the company an “outperform” rating in a research report on Friday, January 24th. Citigroup upped their price target on Similarweb from $10.00 to $14.00 and gave the company a “buy” rating in a research report on Thursday, November 14th. JMP Securities reiterated a “market outperform” rating and issued a $17.00 price objective on shares of Similarweb in a research report on Wednesday, December 11th. William Blair restated an “outperform” rating on shares of Similarweb in a report on Thursday, December 19th. Finally, Needham & Company LLC reiterated a “buy” rating and issued a $14.00 price target on shares of Similarweb in a report on Thursday, January 16th.

Institutional Inflows and Outflows

A number of large investors have recently made changes to their positions in the stock. Global Retirement Partners LLC purchased a new stake in Similarweb in the 4th quarter worth $29,000. New York State Common Retirement Fund purchased a new stake in shares of Similarweb during the fourth quarter worth about $39,000. Public Employees Retirement System of Ohio bought a new stake in Similarweb during the 3rd quarter valued at approximately $70,000. Quantbot Technologies LP purchased a new position in Similarweb in the 3rd quarter worth approximately $75,000. Finally, Heck Capital Advisors LLC bought a new position in Similarweb in the 4th quarter worth approximately $115,000. 57.59% of the stock is owned by hedge funds and other institutional investors.

Similarweb Trading Down 4.7 %

SMWB stock opened at $16.21 on Wednesday. Similarweb has a 1-year low of $5.71 and a 1-year high of $17.39. The stock has a market cap of $1.31 billion, a price-to-earnings ratio of -147.36 and a beta of 0.97. The company’s 50 day moving average is $14.30 and its 200 day moving average is $10.66.

Similarweb (NYSE:SMWB) last released its quarterly earnings results on Tuesday, November 12th. The company reported ($0.03) earnings per share for the quarter, missing analysts’ consensus estimates 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 firm had revenue of $64.71 million for the quarter, compared to analysts’ expectations of $62.90 million. During the same quarter in the previous year, the business earned ($0.05) EPS. As a group, sell-side analysts forecast that Similarweb will post -0.05 EPS 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.