Similarweb’s (SMWB) Buy Rating Reiterated at Needham & Company LLC

Needham & Company LLC reissued their buy rating on shares of Similarweb (NYSE:SMWB) in a research report sent to investors on Thursday morning,Benzinga reports. They currently have a $14.00 price objective on the stock.

SMWB has been the subject of several other reports. The Goldman Sachs Group initiated coverage on Similarweb in a research note on Wednesday, December 11th. They set a “buy” rating and a $16.00 price objective for the company. Jefferies Financial Group increased their price target on Similarweb from $13.00 to $23.00 and gave the stock a “buy” rating in a report on Monday, February 3rd. William Blair reissued an “outperform” rating on shares of Similarweb in a research note on Thursday, December 19th. Northland Securities upped their price objective on shares of Similarweb from $17.00 to $20.00 and gave the stock an “outperform” rating in a research report on Friday, January 24th. Finally, JMP Securities reaffirmed a “market outperform” rating and issued a $17.00 target price on shares of Similarweb in a report on Wednesday, December 11th. Nine equities research analysts have rated the stock with a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, the company currently has a consensus rating of “Buy” and an average price target of $16.50.

Similarweb Stock Up 2.2 %

SMWB opened at $10.83 on Thursday. Similarweb has a 52 week low of $5.71 and a 52 week high of $17.64. The business’s 50 day moving average is $14.83 and its two-hundred day moving average is $11.28. The firm has a market cap of $875.96 million, a price-to-earnings ratio of -98.41 and a beta of 0.99.

Similarweb (NYSE:SMWB) last released its quarterly earnings results on Tuesday, February 11th. The company reported ($0.07) EPS for the quarter, missing the consensus estimate of $0.03 by ($0.10). Similarweb had a negative net margin of 3.92% and a negative return on equity of 44.83%. Equities analysts expect that Similarweb will post -0.05 EPS for the current fiscal year.

Institutional Trading of Similarweb

Institutional investors have recently added to or reduced their stakes in the stock. Meitav Investment House Ltd. lifted its position in shares of Similarweb by 17.0% during the 4th quarter. Meitav Investment House Ltd. now owns 12,846 shares of the company’s stock valued at $182,000 after acquiring an additional 1,870 shares during the period. Global Retirement Partners LLC purchased a new position in Similarweb in the 4th quarter valued at approximately $29,000. New York State Common Retirement Fund acquired a new position in Similarweb during the fourth quarter worth $39,000. XTX Topco Ltd boosted its position in Similarweb by 9.0% during the third quarter. XTX Topco Ltd now owns 53,980 shares of the company’s stock worth $477,000 after purchasing an additional 4,453 shares in the last quarter. Finally, Oppenheimer & Co. Inc. grew its holdings in Similarweb by 4.3% in the fourth quarter. Oppenheimer & Co. Inc. now owns 111,149 shares of the company’s stock valued at $1,575,000 after purchasing an additional 4,542 shares during the last quarter. Hedge funds and other institutional investors 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.