Analysts Set Similarweb Ltd. (NYSE:SMWB) PT at $13.50

Similarweb Ltd. (NYSE:SMWB) has received an average rating of “Buy” from the ten brokerages that are presently covering the company, MarketBeat reports. Nine research analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the company. The average 1 year target price among brokers that have updated their coverage on the stock in the last year is $13.50.

A number of equities analysts recently weighed in on the stock. Citigroup upped their target price on shares of Similarweb from $10.00 to $14.00 and gave the stock a “buy” rating in a research report on Thursday, November 14th. JMP Securities restated a “market outperform” rating and set a $17.00 price objective on shares of Similarweb in a research report on Wednesday, December 11th. Northland Securities boosted their target price on Similarweb from $15.00 to $17.00 and gave the stock an “outperform” rating in a research report on Tuesday, November 26th. The Goldman Sachs Group assumed coverage on Similarweb in a report on Wednesday, December 11th. They set a “buy” rating and a $16.00 price target for the company. Finally, Needham & Company LLC reaffirmed a “buy” rating and issued a $14.00 price objective on shares of Similarweb in a research note on Wednesday, December 11th.

Institutional Investors Weigh In On Similarweb

Several institutional investors have recently modified their holdings of SMWB. ANTIPODES PARTNERS Ltd raised its holdings in 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 buying an additional 6,376 shares during the period. Ceera Investments LLC increased its position in Similarweb by 38.3% during the second quarter. Ceera Investments LLC now owns 259,827 shares of the company’s stock valued at $2,019,000 after acquiring an additional 71,994 shares during the last quarter. Acadian Asset Management LLC raised its stake in shares of Similarweb by 60.8% in the second quarter. Acadian Asset Management LLC now owns 442,917 shares of the company’s stock valued at $3,427,000 after acquiring an additional 167,500 shares during the period. Renaissance Technologies LLC lifted its holdings in shares of Similarweb by 4.3% in the 2nd quarter. Renaissance Technologies LLC now owns 110,600 shares of the company’s stock worth $859,000 after acquiring an additional 4,599 shares during the last quarter. Finally, XTX Topco Ltd boosted its stake in shares of Similarweb by 63.9% during the 2nd quarter. XTX Topco Ltd now owns 49,527 shares of the company’s stock worth $385,000 after purchasing an additional 19,313 shares during the period. 57.59% of the stock is owned by institutional investors.

Similarweb Price Performance

Shares of SMWB stock opened at $14.90 on Friday. Similarweb has a one year low of $5.25 and a one year high of $15.10. The company’s fifty day moving average price is $12.55 and its 200-day moving average price is $9.67. The company has a market capitalization of $1.21 billion, a price-to-earnings ratio of -135.45 and a beta of 0.97.

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.