Similarweb (NYSE:SMWB) Sets New 12-Month High – Here’s Why

Similarweb Ltd. (NYSE:SMWB) hit a new 52-week high on Thursday . The stock traded as high as $13.53 and last traded at $13.18, with a volume of 37720 shares traded. The stock had previously closed at $13.37.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently issued reports on SMWB shares. The Goldman Sachs Group assumed coverage on Similarweb in a research note on Wednesday. They issued a “buy” rating and a $16.00 target price for the company. JMP Securities reiterated a “market outperform” rating and set a $17.00 price objective on shares of Similarweb in a research note on Wednesday. Needham & Company LLC reissued a “buy” rating and set a $14.00 target price on shares of Similarweb in a research report on Wednesday. Northland Securities raised their price target on shares of Similarweb from $15.00 to $17.00 and gave the company an “outperform” rating in a report on Tuesday, November 26th. Finally, William Blair reaffirmed an “outperform” rating on shares of Similarweb in a research note on Monday, September 9th. Nine research analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Buy” and a consensus price target of $13.50.

Similarweb Price Performance

The stock has a market capitalization of $1.03 billion, a price-to-earnings ratio of -116.18 and a beta of 1.03. The firm’s fifty day moving average is $10.60 and its 200-day moving average is $8.83.

Hedge Funds Weigh In On Similarweb

Several large investors have recently modified their holdings of SMWB. Public Employees Retirement System of Ohio acquired a new stake in Similarweb during the third quarter valued at approximately $70,000. Quantbot Technologies LP bought a new stake in shares of Similarweb in the 3rd quarter valued at approximately $75,000. ANTIPODES PARTNERS Ltd raised its position in shares of Similarweb by 122.5% during the 2nd quarter. ANTIPODES PARTNERS Ltd now owns 11,580 shares of the company’s stock valued at $90,000 after acquiring an additional 6,376 shares in the last quarter. State of New Jersey Common Pension Fund D bought a new position in Similarweb during the third quarter worth $122,000. Finally, Barclays PLC boosted its holdings in Similarweb by 201.0% in the third quarter. Barclays PLC now owns 15,414 shares of the company’s stock worth $136,000 after purchasing an additional 10,293 shares during the period. 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.