The Goldman Sachs Group Issues Pessimistic Forecast for Similarweb (NYSE:SMWB) Stock Price

Similarweb (NYSE:SMWB) had its price objective lowered by The Goldman Sachs Group from $15.00 to $13.00 in a report published on Friday morning,Benzinga reports. The brokerage currently has a buy rating on the stock.

A number of other research firms have also recently commented on SMWB. Citigroup increased their price target on Similarweb from $14.00 to $22.00 and gave the company a “buy” rating in a research note on Tuesday, February 11th. William Blair restated an “outperform” rating on shares of Similarweb in a report on Thursday, December 19th. 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 restated a “buy” rating and set a $14.00 price target on shares of Similarweb in a research note on Thursday, February 13th. Finally, Jefferies Financial Group raised their price target on shares of Similarweb from $13.00 to $23.00 and gave the stock a “buy” rating in a report on Monday, February 3rd. Nine analysts have rated the stock with a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, the stock presently has an average rating of “Buy” and an average target price of $16.13.

Similarweb Stock Down 2.4 %

Shares of Similarweb stock opened at $8.39 on Friday. Similarweb has a 52-week low of $5.71 and a 52-week high of $17.64. The firm’s 50 day moving average price is $11.87 and its 200-day moving average price is $11.48. The company has a market cap of $693.01 million, a P/E ratio of -59.91 and a beta of 1.08.

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

Institutional Trading of Similarweb

Large investors have recently made changes to their positions in the business. State Street Corp lifted its position in Similarweb by 32.5% during 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 during the period. Y.D. More Investments Ltd lifted its holdings in shares of Similarweb by 6.3% in the 4th quarter. Y.D. More Investments Ltd now owns 1,449,634 shares of the company’s stock valued at $20,541,000 after buying an additional 86,500 shares during the period. JPMorgan Chase & Co. boosted its stake in shares of Similarweb by 147.4% in the third quarter. JPMorgan Chase & Co. now owns 171,539 shares of the company’s stock worth $1,516,000 after buying an additional 102,192 shares during the last quarter. Jennison Associates LLC acquired a new stake in Similarweb during the fourth quarter worth about $26,059,000. Finally, Telemark Asset Management LLC purchased a new position in Similarweb during the fourth quarter valued at approximately $4,251,000. 57.59% of the stock is owned by hedge funds and other institutional investors.

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.