Similarweb (NYSE:SMWB) Price Target Raised to $20.00

Similarweb (NYSE:SMWB) had its target price lifted by Northland Securities from $17.00 to $20.00 in a research note published on Friday,Benzinga reports. Northland Securities currently has an outperform rating on the stock.

Several other brokerages have also weighed in on SMWB. Needham & Company LLC reissued a “buy” rating and set a $14.00 price objective on shares of Similarweb in a report on Thursday, January 16th. JMP Securities reissued a “market outperform” rating and issued a $17.00 price target on shares of Similarweb in a research note on Wednesday, December 11th. The Goldman Sachs Group assumed coverage on shares of Similarweb in a research note on Wednesday, December 11th. They issued a “buy” rating and a $16.00 price objective on the stock. Citigroup raised their target price on Similarweb from $10.00 to $14.00 and gave the company a “buy” rating in a report on Thursday, November 14th. Finally, William Blair restated an “outperform” rating on shares of Similarweb in a research note on Thursday, December 19th. Nine analysts have rated the stock with a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of “Buy” and an average target price of $13.88.

Similarweb Stock Up 3.7 %

NYSE SMWB opened at $16.65 on Friday. Similarweb has a 1-year low of $5.71 and a 1-year high of $16.67. The business has a 50 day moving average price of $13.88 and a 200 day moving average price of $10.32.

Similarweb (NYSE:SMWB) last posted its quarterly earnings data on Tuesday, November 12th. The company reported ($0.03) earnings per share for the quarter, missing analysts’ consensus estimates of $0.04 by ($0.07). The firm had revenue of $64.71 million during the quarter, compared to analyst estimates of $62.90 million. Similarweb had a negative net margin of 3.92% and a negative return on equity of 44.83%. During the same period in the prior year, the firm earned ($0.05) EPS. On average, analysts predict that Similarweb will post -0.05 EPS for the current year.

Hedge Funds Weigh In On Similarweb

A number of hedge funds have recently added to or reduced their stakes in SMWB. Renaissance Technologies LLC lifted its holdings in shares of Similarweb by 4.3% in the second quarter. Renaissance Technologies LLC now owns 110,600 shares of the company’s stock worth $859,000 after acquiring an additional 4,599 shares during the last quarter. Cubist Systematic Strategies LLC increased its stake in Similarweb by 4.4% in the second quarter. Cubist Systematic Strategies LLC now owns 51,272 shares of the company’s stock valued at $398,000 after purchasing an additional 2,138 shares in the last quarter. Inspire Investing LLC bought a new stake in shares of Similarweb during the third quarter valued at approximately $886,000. P.A.W. Capital Corp acquired a new stake in shares of Similarweb in the 3rd quarter worth about $3,536,000. Finally, State of New Jersey Common Pension Fund D bought a new position in Similarweb during the 3rd quarter valued at $122,000. 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.