Brokerages Set Similarweb Ltd. (NYSE:SMWB) Price Target at $13.88

Shares of Similarweb Ltd. (NYSE:SMWB) have received a consensus recommendation of “Buy” from the ten research firms that are currently covering the stock, MarketBeat.com reports. Nine research analysts have rated the stock with a buy recommendation and one has given a strong buy recommendation to the company. The average 1-year price objective among brokers that have issued ratings on the stock in the last year is $15.50.

Several research analysts recently issued reports on the company. Northland Securities increased their price objective 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 restated an “outperform” rating on shares of Similarweb in a research note on Thursday, December 19th. Jefferies Financial Group upped their price objective on shares of Similarweb from $13.00 to $23.00 and gave the stock a “buy” rating in a research note on Monday. Citigroup raised their target price on shares of Similarweb from $10.00 to $14.00 and gave the company a “buy” rating in a research report on Thursday, November 14th. Finally, 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.

Similarweb Stock Up 3.8 %

Shares of Similarweb stock opened at $17.32 on Wednesday. The stock’s fifty day moving average is $14.48 and its two-hundred day moving average is $10.84. Similarweb has a 52 week low of $5.71 and a 52 week high of $17.50. The company has a market capitalization of $1.40 billion, a PE ratio of -157.47 and a beta of 0.97.

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

Institutional Investors Weigh In On Similarweb

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Global Retirement Partners LLC acquired a new stake in Similarweb during the 4th quarter worth about $29,000. New York State Common Retirement Fund acquired a new position in Similarweb in the 4th quarter worth approximately $39,000. Public Employees Retirement System of Ohio purchased a new position in Similarweb during the 3rd quarter worth approximately $70,000. Quantbot Technologies LP acquired a new stake in Similarweb during the 3rd quarter valued at approximately $75,000. Finally, Heck Capital Advisors LLC acquired a new stake in Similarweb during the 4th quarter valued at approximately $115,000. 57.59% of the stock is currently owned by hedge funds and other institutional investors.

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.