Similarweb (NYSE:SMWB) Sets New 12-Month High – Time to Buy?

Similarweb Ltd. (NYSE:SMWB) shares reached a new 52-week high on Wednesday . The company traded as high as $17.50 and last traded at $17.32, with a volume of 617728 shares. The stock had previously closed at $16.68.

Wall Street Analysts Forecast Growth

SMWB has been the subject of several recent research reports. Citigroup upped their target price 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. The Goldman Sachs Group assumed coverage on shares of Similarweb in a research note on Wednesday, December 11th. They issued a “buy” rating and a $16.00 price target on the stock. Northland Securities increased their target price on Similarweb from $17.00 to $20.00 and gave the stock an “outperform” rating in a report on Friday, January 24th. JMP Securities reiterated a “market outperform” rating and issued a $17.00 price objective on shares of Similarweb in a report on Wednesday, December 11th. Finally, Needham & Company LLC reissued a “buy” rating and set a $14.00 price target on shares of Similarweb in a research report on Thursday, January 16th. Nine research analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, Similarweb presently has an average rating of “Buy” and an average target price of $15.50.

Similarweb Price Performance

The firm has a 50 day moving average of $14.67 and a 200-day moving average of $10.93.

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

Institutional Inflows and Outflows

Several institutional investors have recently bought and sold shares of SMWB. Global Retirement Partners LLC bought a new stake in shares of Similarweb during the fourth quarter worth $29,000. New York State Common Retirement Fund bought a new stake in Similarweb during the fourth quarter valued at $39,000. Public Employees Retirement System of Ohio acquired a new stake in Similarweb during the third quarter worth approximately $70,000. Quantbot Technologies LP acquired a new position in Similarweb in the third quarter valued at approximately $75,000. Finally, Heck Capital Advisors LLC bought a new position in Similarweb during the fourth quarter worth $115,000. Institutional investors and hedge funds own 57.59% of the company’s stock.

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.