Similarweb (NYSE:SMWB) Receives New Coverage from Analysts at Cantor Fitzgerald

Cantor Fitzgerald started coverage on shares of Similarweb (NYSE:SMWB – Get Rating) in a research note issued on Tuesday, The Fly reports. The brokerage set an “overweight” rating on the stock.

Other analysts have also issued research reports about the stock. Barclays upgraded shares of Similarweb from an “equal weight” rating to an “overweight” rating and set a $22.00 price target on the stock in a research note on Wednesday, February 23rd. Zacks Investment Research cut shares of Similarweb from a “hold” rating to a “sell” rating in a research report on Wednesday, May 11th. JMP Securities cut their target price on shares of Similarweb from $32.00 to $20.00 in a research report on Thursday, May 12th. Finally, Citigroup reduced their price objective on Similarweb from $32.00 to $23.00 in a research report on Friday, February 11th. One equities research analyst has rated the stock with a sell rating and nine have given a buy rating to the company. According to MarketBeat.com, Similarweb currently has an average rating of “Buy” and a consensus price target of $25.29.

NYSE:SMWB opened at $9.01 on Tuesday. The firm’s 50 day moving average is $12.30 and its 200 day moving average is $14.63. Similarweb has a 12 month low of $8.23 and a 12 month high of $25.50. The stock has a market capitalization of $669.33 million and a PE ratio of -7.39.

Similarweb (NYSE:SMWB – Get Rating) last issued its quarterly earnings results on Tuesday, May 10th. The company reported ($0.34) EPS for the quarter, missing analysts’ consensus estimates of ($0.30) by ($0.04). Similarweb had a negative net margin of 54.07% and a negative return on equity of 88.43%. The firm had revenue of $44.28 million for the quarter, compared to analysts’ expectations of $41.22 million. As a group, sell-side analysts anticipate that Similarweb will post -1.24 EPS for the current year.

Several hedge funds have recently added to or reduced their stakes in SMWB. Chicago Capital LLC purchased a new stake in Similarweb in the fourth quarter worth $194,000. Yarbrough Capital LLC purchased a new position in shares of Similarweb in the 4th quarter valued at approximately $308,000. Bamco Inc. NY boosted its position in shares of Similarweb by 3.5% during the third quarter. Bamco Inc. NY now owns 535,942 shares of the company’s stock valued at $11,217,000 after purchasing an additional 17,980 shares in the last quarter. Russell Investments Group Ltd. purchased a new position in Similarweb during the third quarter valued at $893,000. Finally, Phoenix Holdings Ltd. purchased a new stake in shares of Similarweb in the 4th quarter worth about $1,041,000. Hedge funds and other institutional investors own 42.87% of the company’s stock.

About Similarweb (Get Rating)

Similarweb Ltd. provides a platform for digital intelligence in the United States, Europe, Asia Pacific, the United Kingdom, Israel, and internationally. It offers digital research intelligence solutions that allow senior leaders, strategy, business intelligence, and consumer insights teams 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 solutions, which enable marketing leaders, search engine optimization, and content managers, pay-per-click, performance marketers, affiliate marketers, and media buyers to understand their competitors' online acquisition strategies in each marketing channel.

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