Similarweb Ltd. (NYSE:SMWB) Receives Average Rating of “Buy” from Analysts

Shares of Similarweb Ltd. (NYSE:SMWB) have been assigned a consensus recommendation of “Buy” from the eight brokerages that are currently covering the company, Marketbeat Ratings reports. Seven analysts have rated the stock with a buy recommendation and one has given a strong buy recommendation to the company. The average 12-month price target among analysts that have issued a report on the stock in the last year is $11.83.

A number of research firms have recently issued reports on SMWB. William Blair reaffirmed an “outperform” rating on shares of Similarweb in a research report on Monday, September 9th. Northland Capmk raised Similarweb to a “strong-buy” rating in a research report on Tuesday, September 10th. JMP Securities raised their price objective on Similarweb from $14.00 to $16.00 and gave the company a “market outperform” rating in a research report on Wednesday, August 21st. Cantor Fitzgerald reaffirmed an “overweight” rating and issued a $10.00 price objective on shares of Similarweb in a research report on Wednesday, August 7th. Finally, Northland Securities began coverage on Similarweb in a research report on Tuesday, September 10th. They issued an “outperform” rating and a $15.00 price objective for the company.

Hedge Funds Weigh In On Similarweb

Large investors have recently made changes to their positions in the company. Russell Investments Group Ltd. bought a new position in shares of Similarweb during the first quarter worth approximately $2,820,000. Oppenheimer & Co. Inc. bought a new position in Similarweb during the 1st quarter worth $654,000. Scalar Gauge Management LLC bought a new position in Similarweb during the 4th quarter worth $1,188,000. Acadian Asset Management LLC increased its stake in Similarweb by 3,663.6% during the 1st quarter. Acadian Asset Management LLC now owns 275,417 shares of the company’s stock worth $2,468,000 after acquiring an additional 268,099 shares during the period. Finally, Circumference Group LLC bought a new position in Similarweb during the 4th quarter worth $725,000. Institutional investors own 57.59% of the company’s stock.

Similarweb Stock Performance

Shares of NYSE SMWB opened at $8.62 on Thursday. The stock has a 50 day moving average price of $8.27 and a 200 day moving average price of $7.95. Similarweb has a 52 week low of $4.58 and a 52 week high of $9.76. The stock has a market capitalization of $697.53 million, a PE ratio of -34.48 and a beta of 0.85.

Similarweb (NYSE:SMWB) last issued its quarterly earnings results on Tuesday, August 6th. The company reported ($0.01) EPS for the quarter, beating the consensus estimate of ($0.05) by $0.04. Similarweb had a negative return on equity of 60.53% and a negative net margin of 5.07%. The firm had revenue of $60.64 million during the quarter, compared to analysts’ expectations of $60.23 million. As a group, research analysts forecast that Similarweb will post -0.04 EPS for the current year.

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.