Similarweb (NYSE:SMWB) Given New $20.00 Price Target at Northland Securities

Similarweb (NYSE:SMWB) had its price objective hoisted by Northland Securities from $17.00 to $20.00 in a research report report published on Friday morning,Benzinga reports. They currently have an outperform rating on the stock.

Several other brokerages have also recently issued reports on SMWB. Citigroup raised their target price on Similarweb from $10.00 to $14.00 and gave the stock a “buy” rating in a research report on Thursday, November 14th. The Goldman Sachs Group initiated coverage on shares of Similarweb in a report on Wednesday, December 11th. They set a “buy” rating and a $16.00 price objective for the company. JMP Securities reaffirmed a “market outperform” rating and set a $17.00 price objective on shares of Similarweb in a report on Wednesday, December 11th. Needham & Company LLC restated a “buy” rating and set a $14.00 price objective on shares of Similarweb in a research report on Thursday, January 16th. Finally, William Blair reiterated an “outperform” rating on shares of Similarweb in a report on Thursday, December 19th. Nine equities research analysts have rated the stock with a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has an average rating of “Buy” and a consensus target price of $13.88.

Similarweb Stock Performance

Similarweb stock opened at $16.65 on Friday. Similarweb has a fifty-two week low of $5.71 and a fifty-two week high of $16.67. The firm’s fifty day moving average price is $13.88 and its 200-day moving average price is $10.32.

Similarweb (NYSE:SMWB) last posted its quarterly earnings data on Tuesday, November 12th. The company reported ($0.03) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.04 by ($0.07). Similarweb had a negative return on equity of 44.83% and a negative net margin of 3.92%. The firm had revenue of $64.71 million during the quarter, compared to analysts’ expectations of $62.90 million. During the same quarter in the previous year, the company posted ($0.05) earnings per share. On average, equities analysts forecast that Similarweb will post -0.05 earnings per share for the current year.

Hedge Funds Weigh In On Similarweb

Institutional investors have recently bought and sold shares of the company. Calamos Advisors LLC boosted its holdings in shares of Similarweb by 147.4% in the 4th quarter. Calamos Advisors LLC now owns 171,167 shares of the company’s stock valued at $2,425,000 after buying an additional 101,975 shares in the last quarter. Jennison Associates LLC purchased a new position in shares of Similarweb during the fourth quarter worth about $26,059,000. Heck Capital Advisors LLC acquired a new stake in shares of Similarweb during the fourth quarter worth about $115,000. International Assets Investment Management LLC purchased a new stake in shares of Similarweb in the 4th quarter valued at about $154,000. Finally, JPMorgan Chase & Co. boosted its position in shares of Similarweb by 147.4% in the 3rd 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 during the period. 57.59% of the stock is owned by institutional investors and hedge funds.

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.