Citigroup Forecasts Strong Price Appreciation for Similarweb (NYSE:SMWB) Stock

Similarweb (NYSE:SMWB) had its target price boosted by Citigroup from $10.00 to $14.00 in a report released on Thursday,Benzinga reports. The firm currently has a buy rating on the stock.

Other equities analysts also recently issued reports about the company. William Blair reaffirmed an “outperform” rating on shares of Similarweb in a research note on Monday, September 9th. Barclays boosted their price target on Similarweb from $9.00 to $10.00 and gave the stock an “overweight” rating in a report on Thursday, August 8th. Northland Securities began coverage on Similarweb in a research report on Tuesday, September 10th. They set an “outperform” rating and a $15.00 price objective for the company. Cantor Fitzgerald restated an “overweight” rating and issued a $10.00 target price on shares of Similarweb in a report on Wednesday, August 7th. Finally, JMP Securities raised their price objective on Similarweb from $16.00 to $17.00 and gave the stock a “market outperform” rating in a report on Thursday. Eight research analysts have rated the stock with a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, the company has a consensus rating of “Buy” and a consensus price target of $12.86.

Similarweb Price Performance

Shares of NYSE SMWB traded down $0.31 during trading on Thursday, hitting $11.54. 199,953 shares of the company were exchanged, compared to its average volume of 200,445. Similarweb has a 1 year low of $4.58 and a 1 year high of $11.88. The company has a market cap of $933.81 million, a price-to-earnings ratio of -105.09 and a beta of 0.84. The firm’s fifty day moving average price is $9.02 and its 200 day moving average price is $8.12.

Institutional Trading of Similarweb

Hedge funds have recently made changes to their positions in the stock. Russell Investments Group Ltd. acquired a new stake in Similarweb during the first quarter valued at approximately $2,820,000. Blair William & Co. IL lifted its holdings in shares of Similarweb by 20.1% in the 1st quarter. Blair William & Co. IL now owns 21,662 shares of the company’s stock worth $195,000 after purchasing an additional 3,621 shares during the last quarter. Acadian Asset Management LLC boosted its holdings in shares of Similarweb by 3,663.6% during the first quarter. Acadian Asset Management LLC now owns 275,417 shares of the company’s stock valued at $2,468,000 after acquiring an additional 268,099 shares during the period. Roubaix Capital LLC acquired a new position in shares of Similarweb during the first quarter worth approximately $2,449,000. Finally, Quadrature Capital Ltd bought a new stake in Similarweb during the 1st quarter valued at $311,000. Institutional investors and hedge funds 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.