Brokerages Set Similarweb Ltd. (NYSE:SMWB) Price Target at $13.50

Similarweb Ltd. (NYSE:SMWB) has been assigned an average rating of “Buy” from the ten brokerages that are currently covering the stock, Marketbeat Ratings reports. Nine equities research analysts have rated the stock with a buy recommendation and one has given a strong buy recommendation to the company. The average 12 month target price among brokers that have updated their coverage on the stock in the last year is $13.50.

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

Institutional Trading of Similarweb

Hedge funds have recently added to or reduced their stakes in the company. P.A.W. Capital Corp bought a new position in Similarweb during the 3rd quarter worth $3,536,000. Scalar Gauge Management LLC grew its stake in shares of Similarweb by 45.5% in the third quarter. Scalar Gauge Management LLC now owns 863,923 shares of the company’s stock valued at $7,637,000 after acquiring an additional 270,000 shares in the last quarter. Connor Clark & Lunn Investment Management Ltd. increased its position in Similarweb by 112.7% during the third quarter. Connor Clark & Lunn Investment Management Ltd. now owns 449,896 shares of the company’s stock worth $3,977,000 after acquiring an additional 238,428 shares during the period. Walleye Capital LLC raised its stake in Similarweb by 115.9% in the 3rd quarter. Walleye Capital LLC now owns 354,653 shares of the company’s stock worth $3,135,000 after purchasing an additional 190,380 shares in the last quarter. Finally, Acadian Asset Management LLC boosted its holdings in Similarweb by 60.8% in the 2nd quarter. Acadian Asset Management LLC now owns 442,917 shares of the company’s stock valued at $3,427,000 after purchasing an additional 167,500 shares during the period. 57.59% of the stock is owned by institutional investors and hedge funds.

Similarweb Stock Performance

NYSE:SMWB opened at $14.51 on Friday. The stock’s 50-day simple moving average is $12.79 and its 200 day simple moving average is $9.75. Similarweb has a 52-week low of $5.25 and a 52-week high of $15.10. The company has a market cap of $1.17 billion, a P/E ratio of -131.91 and a beta of 0.97.

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.