Similarweb (NYSE:SMWB) Given New $13.00 Price Target at The Goldman Sachs Group

Similarweb (NYSE:SMWB) had its price objective decreased by The Goldman Sachs Group from $15.00 to $13.00 in a research report released on Friday morning,Benzinga reports. The Goldman Sachs Group currently has a buy rating on the stock.

Several other brokerages have also issued reports on SMWB. Citigroup boosted their target price on Similarweb from $14.00 to $22.00 and gave the company a “buy” rating in a research report on Tuesday, February 11th. Jefferies Financial Group boosted their price objective on Similarweb from $13.00 to $23.00 and gave the company a “buy” rating in a report on Monday, February 3rd. JMP Securities reiterated a “market outperform” rating and issued a $17.00 target price on shares of Similarweb in a research note on Thursday, February 13th. Needham & Company LLC reissued a “buy” rating and set a $14.00 target price on shares of Similarweb in a research note on Thursday, February 13th. Finally, William Blair reaffirmed an “outperform” rating on shares of Similarweb in a research note on Thursday, December 19th. 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.com, the stock presently has a consensus rating of “Buy” and an average price target of $16.13.

Similarweb Stock Performance

NYSE:SMWB opened at $8.39 on Friday. The firm has a market capitalization of $693.01 million, a PE ratio of -59.91 and a beta of 1.08. The stock’s fifty day moving average is $11.87 and its 200 day moving average is $11.48. Similarweb has a fifty-two week low of $5.71 and a fifty-two week high of $17.64.

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

Institutional Trading of Similarweb

A number of hedge funds have recently added to or reduced their stakes in SMWB. Quantbot Technologies LP bought a new stake in shares of Similarweb in the 3rd quarter valued at about $75,000. Walleye Capital LLC increased its holdings in Similarweb by 115.9% during the third quarter. Walleye Capital LLC now owns 354,653 shares of the company’s stock valued at $3,135,000 after buying an additional 190,380 shares during the period. Verition Fund Management LLC bought a new position in Similarweb in the third quarter worth approximately $160,000. Scalar Gauge Management LLC lifted its holdings in Similarweb by 45.5% during the third quarter. Scalar Gauge Management LLC now owns 863,923 shares of the company’s stock worth $7,637,000 after buying an additional 270,000 shares during the period. Finally, Atom Investors LP boosted its position in Similarweb by 41.1% during the 3rd quarter. Atom Investors LP now owns 143,942 shares of the company’s stock valued at $1,272,000 after acquiring an additional 41,935 shares in the last quarter. 57.59% of the stock is owned by hedge funds and other institutional investors.

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.