Similarweb’s (SMWB) “Buy” Rating Reiterated at Needham & Company LLC

Needham & Company LLC reissued their buy rating on shares of Similarweb (NYSE:SMWB) in a research note issued to investors on Thursday,Benzinga reports. The brokerage currently has a $14.00 price target on the stock.

Other equities research analysts have also recently issued research reports about the company. Northland Securities increased their price target on Similarweb from $15.00 to $17.00 and gave the company an “outperform” rating in a research note on Tuesday, November 26th. JMP Securities restated a “market outperform” rating and set a $17.00 target price on shares of Similarweb in a research note on Wednesday, December 11th. Citigroup upped their price target 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. William Blair restated an “outperform” rating on shares of Similarweb in a research report on Thursday, December 19th. Finally, 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 objective for the company. Nine investment 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 company has an average rating of “Buy” and a consensus target price of $13.50.

Similarweb Stock Down 1.1 %

Shares of NYSE SMWB opened at $15.59 on Thursday. The business’s 50 day moving average price is $13.40 and its two-hundred day moving average price is $10.04. The company has a market cap of $1.26 billion, a PE ratio of -141.75 and a beta of 0.97. Similarweb has a twelve month low of $5.30 and a twelve month high of $16.33.

Hedge Funds Weigh In On Similarweb

Hedge funds have recently added to or reduced their stakes in the stock. Scalar Gauge Management LLC grew its holdings in shares of Similarweb by 45.5% during the 3rd quarter. Scalar Gauge Management LLC now owns 863,923 shares of the company’s stock worth $7,637,000 after purchasing an additional 270,000 shares in the last quarter. Connor Clark & Lunn Investment Management Ltd. lifted its position in Similarweb by 112.7% during the third quarter. Connor Clark & Lunn Investment Management Ltd. now owns 449,896 shares of the company’s stock worth $3,977,000 after purchasing an additional 238,428 shares during the period. P.A.W. Capital Corp acquired a new stake in Similarweb during the third quarter worth about $3,536,000. Walleye Capital LLC increased its holdings in Similarweb by 115.9% in the 3rd quarter. Walleye Capital LLC now owns 354,653 shares of the company’s stock valued at $3,135,000 after buying an additional 190,380 shares during the period. Finally, State Street Corp raised its position in shares of Similarweb by 32.5% in the 3rd quarter. State Street Corp now owns 187,919 shares of the company’s stock valued at $1,661,000 after buying an additional 46,102 shares in the last quarter. 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.