Similarweb Ltd. (NYSE:SMWB) Receives $10.60 Average PT from Analysts

Shares of Similarweb Ltd. (NYSE:SMWB) have been given a consensus rating of “Buy” by the six ratings firms that are currently covering the company, MarketBeat reports. Six investment analysts have rated the stock with a buy rating. The average 1-year price target among brokers that have covered the stock in the last year is $10.60.

Several research analysts recently issued reports on the company. William Blair reaffirmed an “outperform” rating on shares of Similarweb in a research report on Tuesday, March 5th. Barclays increased their target price on shares of Similarweb from $8.00 to $9.00 and gave the company an “overweight” rating in a report on Thursday, February 15th. Jefferies Financial Group reaffirmed a “buy” rating and issued a $10.00 price objective on shares of Similarweb in a research report on Wednesday, February 7th. JMP Securities reaffirmed a “market outperform” rating and issued a $14.00 target price on shares of Similarweb in a report on Friday, March 15th. Finally, Citigroup upgraded Similarweb from a “neutral” rating to a “buy” rating and lifted their price target for the stock from $6.00 to $10.00 in a report on Thursday, February 15th.

Institutional Investors Weigh In On Similarweb

Several institutional investors have recently added to or reduced their stakes in the business. Blair William & Co. IL increased its position in shares of Similarweb by 20.1% in the first quarter. Blair William & Co. IL now owns 21,662 shares of the company’s stock worth $195,000 after purchasing an additional 3,621 shares during the last quarter. ANTIPODES PARTNERS Ltd purchased a new stake in shares of Similarweb during the 3rd quarter valued at $27,000. Barclays PLC lifted its holdings in shares of Similarweb by 737.4% during the 3rd quarter. Barclays PLC now owns 4,966 shares of the company’s stock worth $32,000 after acquiring an additional 4,373 shares during the last quarter. Counterpoint Mutual Funds LLC purchased a new position in Similarweb in the first quarter worth $136,000. Finally, ARK Investment Management LLC lifted its stake in Similarweb by 9.8% during the fourth quarter. ARK Investment Management LLC now owns 340,739 shares of the company’s stock worth $1,816,000 after purchasing an additional 30,543 shares during the last quarter. 57.59% of the stock is owned by hedge funds and other institutional investors.

Similarweb Price Performance

NYSE SMWB opened at $7.25 on Tuesday. The business has a 50 day simple moving average of $8.36 and a 200 day simple moving average of $6.67. The stock has a market capitalization of $570.21 million, a P/E ratio of -19.59 and a beta of 0.75. Similarweb has a one year low of $4.58 and a one year high of $9.76.

Similarweb (NYSE:SMWB) last posted its earnings results on Tuesday, February 13th. The company reported ($0.04) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.05) by $0.01. The company had revenue of $56.76 million for the quarter, compared to analyst estimates of $55.90 million. Similarweb had a negative net margin of 13.47% and a negative return on equity of 203.38%. Equities analysts expect that Similarweb will post -0.2 earnings per share for the current 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.