Similarweb (NYSE:SMWB) Earns “Market Outperform” Rating from JMP Securities

Similarweb (NYSE:SMWB)‘s stock had its “market outperform” rating restated by JMP Securities in a research note issued to investors on Wednesday,Benzinga reports. They presently have a $17.00 target price on the stock. JMP Securities’ price target suggests a potential upside of 30.87% from the stock’s current price.

Several other analysts have also recently weighed in on the stock. Northland Capmk raised shares of Similarweb to a “strong-buy” rating in a report on Tuesday, September 10th. Needham & Company LLC restated a “buy” rating and issued a $14.00 target price on shares of Similarweb in a report on Wednesday. The Goldman Sachs Group assumed coverage on shares of Similarweb in a research report on Wednesday. They set a “buy” rating and a $16.00 target price for the company. Citigroup raised their price target on shares of Similarweb from $10.00 to $14.00 and gave the stock a “buy” rating in a research report on Thursday, November 14th. Finally, William Blair restated an “outperform” rating on shares of Similarweb in a research note on Monday, September 9th. Nine equities research analysts have rated the stock with a buy rating and one has given 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 target price of $13.50.

Similarweb Trading Up 6.7 %

Shares of SMWB stock traded up $0.81 during trading hours on Wednesday, hitting $12.99. The company’s stock had a trading volume of 290,199 shares, compared to its average volume of 228,033. The company has a 50 day moving average of $10.33 and a 200 day moving average of $8.74. Similarweb has a 12-month low of $4.91 and a 12-month high of $13.41. The stock has a market cap of $1.05 billion, a PE ratio of -118.09 and a beta of 1.03.

Institutional Trading of Similarweb

A number of institutional investors have recently added to or reduced their stakes in SMWB. Cubist Systematic Strategies LLC raised its holdings in Similarweb by 4.4% in the 2nd quarter. Cubist Systematic Strategies LLC now owns 51,272 shares of the company’s stock worth $398,000 after purchasing an additional 2,138 shares in the last quarter. California State Teachers Retirement System lifted its stake in shares of Similarweb by 10.1% in the 1st quarter. California State Teachers Retirement System now owns 26,892 shares of the company’s stock worth $242,000 after purchasing an additional 2,475 shares during the period. XTX Topco Ltd lifted its stake in shares of Similarweb by 9.0% in the 3rd quarter. XTX Topco Ltd now owns 53,980 shares of the company’s stock worth $477,000 after purchasing an additional 4,453 shares during the period. Legato Capital Management LLC raised its stake in Similarweb by 4.5% during the 2nd quarter. Legato Capital Management LLC now owns 102,987 shares of the company’s stock worth $800,000 after acquiring an additional 4,455 shares during the period. Finally, Renaissance Technologies LLC raised its position in shares of Similarweb by 4.3% during the second quarter. Renaissance Technologies LLC now owns 110,600 shares of the company’s stock valued at $859,000 after buying an additional 4,599 shares during the last quarter. Hedge funds and other institutional investors own 57.59% of the company’s stock.

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.