Similarweb (NYSE:SMWB) Given “Buy” Rating at Needham & Company LLC

Needham & Company LLC reiterated their buy rating on shares of Similarweb (NYSE:SMWB) in a report published on Thursday morning,Benzinga reports. Needham & Company LLC currently has a $14.00 target price on the stock.

A number of other analysts have also weighed in on SMWB. Citigroup upped their target price on Similarweb from $10.00 to $14.00 and gave the stock a “buy” rating in a report on Thursday, November 14th. The Goldman Sachs Group started coverage on shares of Similarweb in a research report on Wednesday, December 11th. They set a “buy” rating and a $16.00 price target for the company. Northland Securities boosted their price objective on shares of Similarweb from $15.00 to $17.00 and gave the stock an “outperform” rating in a research note on Tuesday, November 26th. William Blair reaffirmed an “outperform” rating on shares of Similarweb in a report on Thursday, December 19th. Finally, JMP Securities reaffirmed a “market outperform” rating and set a $17.00 price target on shares of Similarweb in a research report on Wednesday, December 11th. Nine investment analysts have rated the stock with a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, the stock presently has an average rating of “Buy” and a consensus price target of $13.50.

Similarweb Trading Down 1.9 %

Shares of Similarweb stock opened at $15.77 on Thursday. The firm’s 50-day moving average is $13.17 and its two-hundred day moving average is $9.92. Similarweb has a 1 year low of $5.25 and a 1 year high of $16.33.

Institutional Inflows and Outflows

Institutional investors have recently bought and sold shares of the stock. Cubist Systematic Strategies LLC boosted its position 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. XTX Topco Ltd boosted its holdings in Similarweb by 9.0% during the third quarter. XTX Topco Ltd now owns 53,980 shares of the company’s stock worth $477,000 after buying an additional 4,453 shares in the last quarter. Renaissance Technologies LLC grew its position in 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 period. Public Employees Retirement System of Ohio purchased a new position in Similarweb in the third quarter valued at $70,000. Finally, Quantbot Technologies LP purchased a new stake in shares of Similarweb during the 3rd quarter worth about $75,000. 57.59% of the stock is currently owned by hedge funds and other institutional investors.

About Similarweb

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.