Needham & Company LLC Reiterates “Buy” Rating for Similarweb (NYSE:SMWB)

Needham & Company LLC reaffirmed their buy rating on shares of Similarweb (NYSE:SMWB) in a research note published on Thursday,Benzinga reports. Needham & Company LLC currently has a $14.00 target price on the stock.

Several other equities analysts also recently weighed in on SMWB. The Goldman Sachs Group began coverage on Similarweb in a research report on Wednesday, December 11th. They set a “buy” rating and a $16.00 target price on the stock. Jefferies Financial Group boosted their target price on shares of Similarweb from $13.00 to $23.00 and gave the company a “buy” rating in a report on Monday, February 3rd. JMP Securities reaffirmed a “market outperform” rating and set a $17.00 price target on shares of Similarweb in a research note on Wednesday, December 11th. Northland Securities boosted their price objective on shares of Similarweb from $17.00 to $20.00 and gave the company an “outperform” rating in a research note on Friday, January 24th. Finally, Citigroup increased their target price on Similarweb from $14.00 to $22.00 and gave the stock a “buy” rating in a research report on Tuesday, February 11th. Nine investment analysts have rated the stock with a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, the stock has an average rating of “Buy” and an average target price of $16.50.

Similarweb Price Performance

Similarweb stock opened at $10.83 on Thursday. The stock has a market capitalization of $875.96 million, a P/E ratio of -98.41 and a beta of 0.99. Similarweb has a 12-month low of $5.71 and a 12-month high of $17.64. The firm’s 50-day moving average is $14.83 and its two-hundred day moving average is $11.28.

Similarweb (NYSE:SMWB) last announced its earnings results on Tuesday, February 11th. The company reported ($0.07) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.03 by ($0.10). Similarweb had a negative return on equity of 44.83% and a negative net margin of 3.92%. As a group, analysts forecast that Similarweb will post -0.05 EPS for the current year.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently modified their holdings of the stock. P.A.W. Capital Corp acquired a new stake in shares of Similarweb during the third quarter valued at about $3,536,000. State of New Jersey Common Pension Fund D purchased a new position in shares of Similarweb during the 3rd quarter valued at approximately $122,000. Oppenheimer & Co. Inc. boosted its stake in shares of Similarweb by 9.8% during the 3rd quarter. Oppenheimer & Co. Inc. now owns 106,607 shares of the company’s stock valued at $942,000 after buying an additional 9,555 shares during the last quarter. Connor Clark & Lunn Investment Management Ltd. grew its position in shares of Similarweb by 112.7% during the third quarter. Connor Clark & Lunn Investment Management Ltd. now owns 449,896 shares of the company’s stock worth $3,977,000 after buying an additional 238,428 shares in the last quarter. Finally, Quantbot Technologies LP bought a new stake in shares of Similarweb in the third quarter worth $75,000. Institutional investors and hedge funds own 57.59% of the company’s stock.

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.