Similarweb (NYSE:SMWB) Trading Up 5.1% on Analyst Upgrade

Similarweb Ltd. (NYSE:SMWB)’s share price shot up 5.1% during mid-day trading on Monday after Jefferies Financial Group raised their price target on the stock from $13.00 to $23.00. Jefferies Financial Group currently has a buy rating on the stock. Similarweb traded as high as $16.98 and last traded at $17.03. 241,526 shares traded hands during mid-day trading, a decline of 62% from the average session volume of 627,399 shares. The stock had previously closed at $16.21.

SMWB has been the subject of several other reports. Needham & Company LLC reiterated a “buy” rating and set a $14.00 target price on shares of Similarweb in a report on Thursday, January 16th. JMP Securities reiterated a “market outperform” rating and set a $17.00 price objective on shares of Similarweb in a research note on Wednesday, December 11th. William Blair reissued an “outperform” rating on shares of Similarweb in a report on Thursday, December 19th. 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, Citigroup upped their price target on shares of Similarweb from $10.00 to $14.00 and gave the stock a “buy” rating in a research note on Thursday, November 14th. Nine analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, the company presently has an average rating of “Buy” and an average target price of $15.50.

Institutional Investors Weigh In On Similarweb

Several institutional investors have recently modified their holdings of the business. Jennison Associates LLC purchased a new position in Similarweb in the 4th quarter worth about $26,059,000. Y.D. More Investments Ltd grew its stake in shares of Similarweb by 6.3% in the fourth quarter. Y.D. More Investments Ltd now owns 1,449,634 shares of the company’s stock worth $20,541,000 after acquiring an additional 86,500 shares during the period. Scalar Gauge Management LLC raised its holdings in shares of Similarweb by 45.5% during the third quarter. Scalar Gauge Management LLC now owns 863,923 shares of the company’s stock valued at $7,637,000 after purchasing an additional 270,000 shares during 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 valued at $3,977,000 after purchasing an additional 238,428 shares during the period. Finally, P.A.W. Capital Corp purchased a new stake in Similarweb in the third quarter worth approximately $3,536,000. 57.59% of the stock is owned by hedge funds and other institutional investors.

Similarweb Stock Performance

The firm has a market cap of $1.40 billion, a P/E ratio of -157.47 and a beta of 0.97. The business’s 50-day simple moving average is $14.48 and its 200 day simple moving average is $10.84.

Similarweb (NYSE:SMWB) last issued its quarterly earnings data 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 return on equity of 44.83% and a negative net margin of 3.92%. The firm had revenue of $64.71 million during the quarter, compared to the consensus estimate of $62.90 million. During the same period in the previous year, the firm earned ($0.05) EPS. As a group, equities research analysts expect that Similarweb Ltd. will post -0.05 EPS for the current year.

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.