Similarweb Ltd. (NYSE:SMWB) Receives $16.50 Consensus Target Price from Analysts

Similarweb Ltd. (NYSE:SMWB) has been given a consensus recommendation of “Buy” by the ten ratings firms that are presently covering the stock, MarketBeat reports. Nine analysts have rated the stock with a buy rating and one has given a strong buy rating to the company. The average twelve-month price objective among brokerages that have covered the stock in the last year is $16.50.

SMWB has been the topic of several recent research reports. Jefferies Financial Group boosted their price objective on shares of Similarweb from $13.00 to $23.00 and gave the stock a “buy” rating in a research report on Monday, February 3rd. Needham & Company LLC reaffirmed a “buy” rating and issued a $14.00 price target on shares of Similarweb in a report on Thursday, February 13th. JMP Securities reissued a “market outperform” rating and set a $17.00 price objective on shares of Similarweb in a research note on Thursday, February 13th. Citigroup upped their target price on Similarweb from $14.00 to $22.00 and gave the company a “buy” rating in a research note on Tuesday, February 11th. Finally, The Goldman Sachs Group started coverage on Similarweb in a research report on Wednesday, December 11th. They set a “buy” rating and a $16.00 price target for the company.

Hedge Funds Weigh In On Similarweb

Large investors have recently added to or reduced their stakes in the business. Global Retirement Partners LLC acquired a new position in shares of Similarweb during the 4th quarter valued at about $29,000. New York State Common Retirement Fund acquired a new position in Similarweb during the fourth quarter worth approximately $39,000. Public Employees Retirement System of Ohio acquired a new position in Similarweb during the third quarter worth approximately $70,000. KLP Kapitalforvaltning AS purchased a new position in Similarweb during the fourth quarter worth approximately $115,000. Finally, Heck Capital Advisors LLC acquired a new position in shares of Similarweb in the 4th quarter valued at $115,000. 57.59% of the stock is currently owned by hedge funds and other institutional investors.

Similarweb Trading Up 2.3 %

Shares of Similarweb stock opened at $9.22 on Thursday. The company has a 50-day moving average of $12.43 and a two-hundred day moving average of $11.52. The stock has a market cap of $761.75 million, a PE ratio of -65.85 and a beta of 1.08. Similarweb has a 12-month low of $5.71 and a 12-month high of $17.64.

Similarweb (NYSE:SMWB) last released its quarterly earnings data on Tuesday, February 11th. The company reported ($0.07) earnings per share for the quarter, missing the consensus estimate of $0.03 by ($0.10). Similarweb had a negative net margin of 4.58% and a negative return on equity of 47.62%. On average, sell-side analysts forecast that Similarweb will post -0.24 EPS for the current fiscal year.

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.