Similarweb Ltd. (NYSE:SMWB) Given Consensus Rating of “Buy” by Analysts

Similarweb Ltd. (NYSE:SMWB) has been given an average recommendation of “Buy” by the ten research firms that are covering the firm, MarketBeat.com reports. Nine investment analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the company. The average 1-year price objective among brokerages that have updated their coverage on the stock in the last year is $16.50.

Several equities analysts recently weighed in on SMWB shares. The Goldman Sachs Group began coverage on shares of Similarweb in a report on Wednesday, December 11th. They set a “buy” rating and a $16.00 target price on the stock. Citigroup boosted their price objective on Similarweb from $14.00 to $22.00 and gave the stock a “buy” rating in a research note on Tuesday, February 11th. JMP Securities reiterated a “market outperform” rating and issued a $17.00 target price on shares of Similarweb in a research note on Thursday, February 13th. Needham & Company LLC reissued a “buy” rating and set a $14.00 price target on shares of Similarweb in a research report on Thursday, February 13th. Finally, Jefferies Financial Group upped their price target on Similarweb from $13.00 to $23.00 and gave the stock a “buy” rating in a report on Monday, February 3rd.

Institutional Investors Weigh In On Similarweb

Several hedge funds and other institutional investors have recently bought and sold shares of the business. 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. State Street Corp grew its holdings in Similarweb by 32.5% during the 3rd quarter. State Street Corp now owns 187,919 shares of the company’s stock worth $1,661,000 after acquiring an additional 46,102 shares in the last quarter. Y.D. More Investments Ltd grew its holdings in Similarweb by 6.3% during the 4th quarter. Y.D. More Investments Ltd now owns 1,449,634 shares of the company’s stock worth $20,541,000 after acquiring an additional 86,500 shares in the last quarter. JPMorgan Chase & Co. increased its position in shares of Similarweb by 147.4% in the 3rd quarter. JPMorgan Chase & Co. now owns 171,539 shares of the company’s stock worth $1,516,000 after purchasing an additional 102,192 shares during the last quarter. Finally, Jennison Associates LLC acquired a new stake in shares of Similarweb in the 4th quarter valued at about $26,059,000. 57.59% of the stock is currently owned by hedge funds and other institutional investors.

Similarweb Price Performance

Similarweb stock opened at $9.22 on Thursday. The company has a market cap of $761.75 million, a price-to-earnings ratio of -65.85 and a beta of 1.08. Similarweb has a 12 month low of $5.71 and a 12 month high of $17.64. The stock’s 50-day moving average is $12.43 and its 200-day moving average is $11.52.

Similarweb (NYSE:SMWB) last posted its quarterly earnings results on Tuesday, February 11th. The company reported ($0.07) EPS for the quarter, missing the consensus estimate of $0.03 by ($0.10). Similarweb had a negative net margin of 4.58% and a negative return on equity of 47.62%. Research analysts anticipate that Similarweb will post -0.24 EPS for the current year.

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.