Similarweb Ltd. (NYSE:SMWB) Receives $16.50 Average PT from Brokerages

Shares of Similarweb Ltd. (NYSE:SMWB) have earned a consensus recommendation of “Buy” from the ten brokerages that are currently covering the company, Marketbeat.com reports. Nine equities research analysts have rated the stock with a buy recommendation and one has assigned a strong buy recommendation to the company. The average twelve-month price target among brokerages that have issued a report on the stock in the last year is $16.50.

A number of brokerages have commented on SMWB. Northland Securities increased their target price on Similarweb from $17.00 to $20.00 and gave the company an “outperform” rating in a report on Friday, January 24th. Needham & Company LLC reissued a “buy” rating and set a $14.00 target price on shares of Similarweb in a report on Thursday, February 13th. Citigroup increased their target price on Similarweb from $14.00 to $22.00 and gave the company a “buy” rating in a report on Tuesday, February 11th. JMP Securities reissued a “market outperform” rating and set a $17.00 target price on shares of Similarweb in a report on Thursday, February 13th. Finally, William Blair reissued an “outperform” rating on shares of Similarweb in a report on Thursday, December 19th.

Similarweb Trading Up 1.0 %

NYSE SMWB opened at $9.55 on Friday. The stock has a market capitalization of $772.70 million, a price-to-earnings ratio of -68.20 and a beta of 0.99. Similarweb has a twelve month low of $5.71 and a twelve month high of $17.64. The stock has a 50-day moving average of $14.42 and a 200 day moving average of $11.47.

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

Institutional Investors Weigh In On Similarweb

Large investors have recently made changes to their positions in the stock. Connor Clark & Lunn Investment Management Ltd. grew its position in shares of Similarweb by 112.7% in the third quarter. Connor Clark & Lunn Investment Management Ltd. now owns 449,896 shares of the company’s stock valued at $3,977,000 after purchasing an additional 238,428 shares in the last quarter. State Street Corp grew its position in shares of Similarweb by 32.5% in the third quarter. State Street Corp now owns 187,919 shares of the company’s stock valued at $1,661,000 after purchasing an additional 46,102 shares in the last quarter. Y.D. More Investments Ltd grew its position in shares of Similarweb by 6.3% in the fourth quarter. Y.D. More Investments Ltd now owns 1,449,634 shares of the company’s stock valued at $20,541,000 after purchasing an additional 86,500 shares in the last quarter. JPMorgan Chase & Co. grew its position in shares of Similarweb by 147.4% in the third quarter. JPMorgan Chase & Co. now owns 171,539 shares of the company’s stock valued at $1,516,000 after purchasing an additional 102,192 shares in the last quarter. Finally, Jennison Associates LLC purchased a new position in Similarweb in the fourth quarter worth approximately $26,059,000. 57.59% of the stock is currently owned by hedge funds and other institutional investors.

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.