Similarweb (NYSE:SMWB) Reaches New 52-Week High Following Analyst Upgrade

Similarweb Ltd. (NYSE:SMWBGet Free Report)’s share price hit a new 52-week high during trading on Friday after Northland Securities raised their price target on the stock from $17.00 to $20.00. Northland Securities currently has an outperform rating on the stock. Similarweb traded as high as $16.61 and last traded at $16.58, with a volume of 133801 shares trading hands. The stock had previously closed at $16.05.

SMWB has been the subject of several other research reports. Citigroup raised their price target on Similarweb from $10.00 to $14.00 and gave the stock a “buy” rating in a report on Thursday, November 14th. William Blair reiterated an “outperform” rating on shares of Similarweb in a research report on Thursday, December 19th. JMP Securities reiterated a “market outperform” rating and set a $17.00 price target on shares of Similarweb in a research report on Wednesday, December 11th. The Goldman Sachs Group started coverage on Similarweb in a research report on Wednesday, December 11th. They set a “buy” rating and a $16.00 price target for the company. Finally, Needham & Company LLC reiterated a “buy” rating and set a $14.00 price target on shares of Similarweb in a research report on Thursday, January 16th. Nine research analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Buy” and an average price target of $13.88.

Read Our Latest Analysis on SMWB

Hedge Funds Weigh In On Similarweb

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Public Employees Retirement System of Ohio purchased a new position in shares of Similarweb during the 3rd quarter worth $70,000. Quantbot Technologies LP acquired a new stake in Similarweb in the 3rd quarter valued at about $75,000. Heck Capital Advisors LLC acquired a new stake in Similarweb in the 4th quarter valued at about $115,000. State of New Jersey Common Pension Fund D acquired a new stake in Similarweb in the 3rd quarter valued at about $122,000. Finally, Barclays PLC raised its position in shares of Similarweb by 201.0% during 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 in the last quarter. Institutional investors and hedge funds own 57.59% of the company’s stock.

Similarweb Stock Performance

The firm has a market cap of $1.35 billion, a price-to-earnings ratio of -151.36 and a beta of 0.97. The firm has a 50-day moving average price of $13.88 and a two-hundred day moving average price of $10.34.

Similarweb (NYSE:SMWBGet Free Report) last issued its earnings results on Tuesday, November 12th. The company reported ($0.03) earnings per share for the quarter, missing the consensus estimate of $0.04 by ($0.07). The business had revenue of $64.71 million for the quarter, compared to analyst estimates of $62.90 million. Similarweb had a negative return on equity of 44.83% and a negative net margin of 3.92%. During the same period last year, the business posted ($0.05) EPS. Research analysts anticipate that Similarweb Ltd. will post -0.05 earnings per share for the current year.

Similarweb Company Profile

(Get Free Report)

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.

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