Barclays Lowers Similarweb (NYSE:SMWB) Price Target to $8.00

Similarweb (NYSE:SMWBGet Rating) had its target price decreased by Barclays from $14.00 to $8.00 in a research note published on Thursday morning, The Fly reports. Barclays currently has an overweight rating on the stock.

Separately, JMP Securities lowered their price target on Similarweb from $20.00 to $14.00 and set a market outperform rating on the stock in a report on Wednesday, November 16th. Five equities research analysts have rated the stock with a buy rating, Based on data from MarketBeat, the company currently has an average rating of Buy and an average target price of $13.40.

Similarweb Stock Performance

Shares of SMWB opened at $4.85 on Thursday. The firm has a market cap of $360.30 million, a PE ratio of -3.94 and a beta of 0.63. The firm’s 50 day moving average price is $6.27 and its 200 day moving average price is $7.94. Similarweb has a twelve month low of $4.55 and a twelve month high of $19.80.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently bought and sold shares of SMWB. Premier Fund Managers Ltd bought a new position in Similarweb in the first quarter worth $4,527,000. Bessemer Group Inc. lifted its holdings in shares of Similarweb by 504.8% during the third quarter. Bessemer Group Inc. now owns 312,677 shares of the company’s stock valued at $1,832,000 after acquiring an additional 260,976 shares during the period. Meitav Dash Investments Ltd. lifted its holdings in shares of Similarweb by 70.1% during the first quarter. Meitav Dash Investments Ltd. now owns 550,821 shares of the company’s stock valued at $7,086,000 after acquiring an additional 227,059 shares during the period. State Street Corp bought a new position in shares of Similarweb during the second quarter valued at $553,000. Finally, ARK Investment Management LLC lifted its holdings in shares of Similarweb by 40.3% during the third quarter. ARK Investment Management LLC now owns 230,500 shares of the company’s stock valued at $1,351,000 after acquiring an additional 66,184 shares during the period. 36.86% of the stock is owned by institutional investors.

Similarweb Company Profile

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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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