Similarweb Ltd. (NYSE:SMWB) Receives $11.83 Consensus Target Price from Analysts

Shares of Similarweb Ltd. (NYSE:SMWB) have been assigned an average rating of “Buy” from the eight analysts that are currently covering the stock, MarketBeat Ratings reports. Seven analysts have rated the stock with a buy recommendation and one has issued a strong buy recommendation on the company. The average twelve-month price objective among analysts that have updated their coverage on the stock in the last year is $11.83.

SMWB has been the subject of several recent research reports. William Blair reiterated an “outperform” rating on shares of Similarweb in a research note on Monday, September 9th. Northland Securities started coverage on Similarweb in a research note on Tuesday, September 10th. They issued an “outperform” rating and a $15.00 target price for the company. Barclays boosted their price objective on shares of Similarweb from $9.00 to $10.00 and gave the company an “overweight” rating in a research note on Thursday, August 8th. JMP Securities raised their price objective on Similarweb from $14.00 to $16.00 and gave the company a “market outperform” rating in a report on Wednesday, August 21st. Finally, Northland Capmk upgraded Similarweb to a “strong-buy” rating in a research report on Tuesday, September 10th.

Similarweb Stock Down 2.7 %

Shares of SMWB stock opened at $8.80 on Thursday. Similarweb has a 12-month low of $4.58 and a 12-month high of $9.76. The company has a 50 day moving average of $8.16 and a 200-day moving average of $7.96. The firm has a market cap of $712.10 million, a P/E ratio of -35.20 and a beta of 0.85.

Similarweb (NYSE:SMWB) last issued its earnings results on Tuesday, August 6th. The company reported ($0.01) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.05) by $0.04. The firm had revenue of $60.64 million for the quarter, compared to analyst estimates of $60.23 million. Similarweb had a negative return on equity of 60.53% and a negative net margin of 5.07%. As a group, equities analysts expect that Similarweb will post -0.04 EPS for the current year.

Institutional Investors Weigh In On Similarweb

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Cubist Systematic Strategies LLC boosted its stake in Similarweb by 4.4% during the 2nd quarter. Cubist Systematic Strategies LLC now owns 51,272 shares of the company’s stock valued at $398,000 after purchasing an additional 2,138 shares during the last quarter. Scalar Gauge Management LLC raised its position in Similarweb by 56.8% in the 2nd quarter. Scalar Gauge Management LLC now owns 593,923 shares of the company’s stock worth $4,615,000 after buying an additional 215,221 shares during the last quarter. 272 Capital LP purchased a new stake in shares of Similarweb during the 2nd quarter valued at about $529,000. XTX Topco Ltd raised its holdings in shares of Similarweb by 63.9% during the second quarter. XTX Topco Ltd now owns 49,527 shares of the company’s stock valued at $385,000 after purchasing an additional 19,313 shares during the last quarter. Finally, Renaissance Technologies LLC boosted its holdings in Similarweb by 4.3% in the second quarter. Renaissance Technologies LLC now owns 110,600 shares of the company’s stock worth $859,000 after purchasing an additional 4,599 shares during the last quarter. 57.59% of the stock is 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.