Similarweb Ltd. (NYSE:SMWB) Given Consensus Rating of “Buy” by Analysts

Similarweb Ltd. (NYSE:SMWB) has been given an average rating of “Buy” by the ten research firms that are currently covering the company, MarketBeat.com reports. Nine equities research analysts have rated the stock with a buy recommendation and one has issued a strong buy recommendation on the company. The average 12-month price target among brokerages that have covered the stock in the last year is $13.88.

SMWB has been the topic of several recent research reports. JMP Securities reiterated a “market outperform” rating and issued a $17.00 price target on shares of Similarweb in a research report on Wednesday, December 11th. William Blair restated an “outperform” rating on shares of Similarweb in a research report on Thursday, December 19th. Citigroup raised their price objective on shares of Similarweb from $10.00 to $14.00 and gave the company a “buy” rating in a research report on Thursday, November 14th. 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, The Goldman Sachs Group began coverage on shares of Similarweb in a research report on Wednesday, December 11th. They set a “buy” rating and a $16.00 price objective on the stock.

Hedge Funds Weigh In On Similarweb

Several institutional investors have recently bought and sold shares of SMWB. Renaissance Technologies LLC grew its stake in shares of Similarweb by 4.3% in the 2nd quarter. Renaissance Technologies LLC now owns 110,600 shares of the company’s stock worth $859,000 after buying an additional 4,599 shares in the last quarter. Cubist Systematic Strategies LLC grew its stake in shares of Similarweb by 4.4% in the 2nd quarter. Cubist Systematic Strategies LLC now owns 51,272 shares of the company’s stock worth $398,000 after buying an additional 2,138 shares in the last quarter. Inspire Investing LLC purchased a new position in shares of Similarweb in the 3rd quarter worth $886,000. P.A.W. Capital Corp purchased a new position in shares of Similarweb in the 3rd quarter worth $3,536,000. Finally, State of New Jersey Common Pension Fund D purchased a new position in shares of Similarweb in the 3rd quarter worth $122,000. 57.59% of the stock is owned by hedge funds and other institutional investors.

Similarweb Trading Down 4.7 %

SMWB opened at $16.21 on Wednesday. Similarweb has a 1-year low of $5.71 and a 1-year high of $17.39. The company has a market capitalization of $1.31 billion, a PE ratio of -147.36 and a beta of 0.97. The firm’s 50 day simple moving average is $14.30 and its two-hundred day simple moving average is $10.71.

Similarweb (NYSE:SMWB) last released its quarterly earnings results on Tuesday, November 12th. The company reported ($0.03) earnings per share for the quarter, missing the consensus estimate 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 business had revenue of $64.71 million during the quarter, compared to the consensus estimate of $62.90 million. During the same quarter in the previous year, the business posted ($0.05) earnings per share. Equities analysts forecast that Similarweb will post -0.05 earnings per share for the current fiscal year.

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.