Jefferies Financial Group Forecasts Strong Price Appreciation for Similarweb (NYSE:SMWB) Stock

Similarweb (NYSE:SMWB) had its target price increased by equities research analysts at Jefferies Financial Group from $13.00 to $23.00 in a report released on Monday,Benzinga reports. The firm presently has a “buy” rating on the stock. Jefferies Financial Group’s price target would indicate a potential upside of 32.78% from the stock’s previous close.

SMWB has been the subject of a number of other research reports. The Goldman Sachs Group initiated coverage on Similarweb in a research report on Wednesday, December 11th. They set a “buy” rating and a $16.00 price target for the company. Needham & Company LLC reaffirmed a “buy” rating and issued a $14.00 price target on shares of Similarweb in a report on Thursday, January 16th. Northland Securities upped their target price on Similarweb from $17.00 to $20.00 and gave the stock an “outperform” rating in a research note on Friday, January 24th. William Blair reaffirmed an “outperform” rating on shares of Similarweb in a report on Thursday, December 19th. Finally, Citigroup upped their price objective on shares of Similarweb from $10.00 to $14.00 and gave the stock a “buy” rating in a research report on Thursday, November 14th. Nine investment analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, the company has a consensus rating of “Buy” and a consensus target price of $15.50.

Similarweb Stock Performance

NYSE SMWB opened at $17.32 on Monday. The company has a market capitalization of $1.40 billion, a price-to-earnings ratio of -157.47 and a beta of 0.97. The company’s 50-day simple moving average is $14.48 and its two-hundred day simple moving average is $10.84. Similarweb has a one year low of $5.71 and a one year high of $17.50.

Similarweb (NYSE:SMWB) last posted 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 for the quarter, compared to the consensus estimate of $62.90 million. During the same quarter last year, the firm earned ($0.05) EPS. Equities analysts expect that Similarweb will post -0.05 earnings per share for the current fiscal year.

Institutional Trading of Similarweb

Several institutional investors have recently made changes to their positions in the company. Global Retirement Partners LLC acquired a new stake in shares of Similarweb during the fourth quarter valued at about $29,000. New York State Common Retirement Fund purchased a new position in Similarweb during the 4th quarter valued at about $39,000. Public Employees Retirement System of Ohio acquired a new position in Similarweb in the 3rd quarter valued at about $70,000. Quantbot Technologies LP purchased a new stake in Similarweb during the third quarter worth about $75,000. Finally, Heck Capital Advisors LLC acquired a new stake in shares of Similarweb during the fourth quarter worth about $115,000. Hedge funds and other institutional investors own 57.59% of the company’s stock.

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.