Similarweb (NYSE:SMWB) Price Target Raised to $14.00

Similarweb (NYSE:SMWB) had its price objective increased by Citigroup from $10.00 to $14.00 in a report released on Thursday morning,Benzinga reports. They currently have a buy rating on the stock.

SMWB has been the subject of several other research reports. JMP Securities boosted their price objective on Similarweb from $16.00 to $17.00 and gave the company a “market outperform” rating in a report on Thursday. Northland Securities began coverage on Similarweb in a research report on Tuesday, September 10th. They issued an “outperform” rating and a $15.00 price objective on the stock. Cantor Fitzgerald reaffirmed an “overweight” rating and set a $10.00 target price on shares of Similarweb in a report on Wednesday, August 7th. William Blair reissued an “outperform” rating on shares of Similarweb in a report on Monday, September 9th. Finally, Needham & Company LLC lifted their price objective on shares of Similarweb from $11.00 to $14.00 and gave the company a “buy” rating in a report on Thursday. Eight equities research analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat, the stock has an average rating of “Buy” and an average price target of $12.86.

Similarweb Price Performance

Shares of Similarweb stock opened at $11.51 on Thursday. The firm has a fifty day moving average price of $9.07 and a 200 day moving average price of $8.15. Similarweb has a 1 year low of $4.58 and a 1 year high of $11.95.

Hedge Funds Weigh In On Similarweb

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Public Employees Retirement System of Ohio purchased a new stake in shares of Similarweb during the third quarter worth about $70,000. Quantbot Technologies LP purchased a new stake in Similarweb during the 3rd quarter worth approximately $75,000. ANTIPODES PARTNERS Ltd raised its holdings in shares of Similarweb by 122.5% during the second quarter. ANTIPODES PARTNERS Ltd now owns 11,580 shares of the company’s stock valued at $90,000 after acquiring an additional 6,376 shares during the last quarter. State of New Jersey Common Pension Fund D purchased a new position in shares of Similarweb in the third quarter valued at approximately $122,000. Finally, Barclays PLC boosted its stake in shares of Similarweb by 201.0% in the third quarter. Barclays PLC now owns 15,414 shares of the company’s stock worth $136,000 after acquiring an additional 10,293 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.