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

Shares of Similarweb Ltd. (NYSE:SMWB) have been assigned an average recommendation of “Buy” from the ten ratings firms that are presently covering the company, MarketBeat Ratings reports. Nine equities research analysts have rated the stock with a buy rating and one has issued a strong buy rating on the company. The average 1 year price target among brokers that have covered the stock in the last year is $13.50.

A number of research analysts recently weighed in on SMWB shares. Northland Securities increased their price objective on shares of Similarweb from $15.00 to $17.00 and gave the company an “outperform” rating in a research report on Tuesday, November 26th. Needham & Company LLC reissued a “buy” rating and set a $14.00 price target on shares of Similarweb in a report on Wednesday, December 11th. The Goldman Sachs Group began coverage on shares of Similarweb in a research note on Wednesday, December 11th. They issued a “buy” rating and a $16.00 price objective for the company. Citigroup lifted their target price on Similarweb from $10.00 to $14.00 and gave the company a “buy” rating in a research note on Thursday, November 14th. Finally, JMP Securities reaffirmed a “market outperform” rating and set a $17.00 target price on shares of Similarweb in a research note on Wednesday, December 11th.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. JPMorgan Chase & Co. lifted its position in Similarweb by 147.4% in the third quarter. JPMorgan Chase & Co. now owns 171,539 shares of the company’s stock worth $1,516,000 after buying an additional 102,192 shares during the last quarter. Barclays PLC lifted its holdings in shares of Similarweb by 201.0% in the 3rd quarter. Barclays PLC now owns 15,414 shares of the company’s stock worth $136,000 after acquiring an additional 10,293 shares during the last quarter. Public Employees Retirement System of Ohio purchased a new position in shares of Similarweb during the 3rd quarter worth about $70,000. XTX Topco Ltd grew its holdings in Similarweb by 9.0% during the 3rd quarter. XTX Topco Ltd now owns 53,980 shares of the company’s stock valued at $477,000 after purchasing an additional 4,453 shares during the last quarter. Finally, State Street Corp raised its position in Similarweb by 32.5% in the 3rd quarter. State Street Corp now owns 187,919 shares of the company’s stock worth $1,661,000 after purchasing an additional 46,102 shares during the period. Hedge funds and other institutional investors own 57.59% of the company’s stock.

Similarweb Trading Up 3.7 %

Shares of SMWB opened at $14.51 on Friday. Similarweb has a 12 month low of $5.07 and a 12 month high of $14.84. The business’s fifty day simple moving average is $12.20 and its two-hundred day simple moving average is $9.50. The company has a market cap of $1.17 billion, a price-to-earnings ratio of -131.91 and a beta of 1.03.

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.