Similarweb (NYSE:SMWB) Sees Large Volume Increase – Time to Buy?

Similarweb Ltd. (NYSE:SMWB) shares saw an uptick in trading volume on Thursday . 660,331 shares traded hands during trading, an increase of 214% from the previous session’s volume of 210,110 shares.The stock last traded at $12.59 and had previously closed at $12.23.

Analyst Upgrades and Downgrades

Several brokerages have issued reports on SMWB. Northland Securities started coverage on shares of Similarweb in a report on Tuesday, September 10th. They issued an “outperform” rating and a $15.00 price target on the stock. Needham & Company LLC increased their price target on shares of Similarweb from $11.00 to $14.00 and gave the stock a “buy” rating in a research report on Thursday, November 14th. Cantor Fitzgerald restated an “overweight” rating and set a $10.00 price target on shares of Similarweb in a research note on Wednesday, August 7th. Northland Capmk upgraded Similarweb to a “strong-buy” rating in a research note on Tuesday, September 10th. Finally, JMP Securities raised their target price on Similarweb from $16.00 to $17.00 and gave the stock a “market outperform” rating in a research report on Thursday, November 14th. Eight research analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, the company has an average rating of “Buy” and a consensus target price of $12.86.

Similarweb Trading Up 0.6 %

The stock’s 50-day simple moving average is $9.38 and its 200 day simple moving average is $8.31.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently bought and sold shares of the business. Russell Investments Group Ltd. bought a new position in Similarweb during the 1st quarter worth $2,820,000. Blair William & Co. IL increased its position in Similarweb by 20.1% during the 1st quarter. Blair William & Co. IL now owns 21,662 shares of the company’s stock valued at $195,000 after purchasing an additional 3,621 shares during the period. Quadrature Capital Ltd bought a new position in Similarweb during the 1st quarter worth approximately $311,000. California State Teachers Retirement System lifted its position in shares of Similarweb by 10.1% in the 1st quarter. California State Teachers Retirement System now owns 26,892 shares of the company’s stock worth $242,000 after purchasing an additional 2,475 shares during the period. Finally, Legato Capital Management LLC boosted its stake in shares of Similarweb by 4.5% in the 2nd quarter. Legato Capital Management LLC now owns 102,987 shares of the company’s stock valued at $800,000 after purchasing an additional 4,455 shares during the last quarter. 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.