Similarweb (NYSE:SMWB) Reaches New 52-Week High – What’s Next?

Similarweb Ltd. (NYSE:SMWB) hit a new 52-week high on Thursday . The company traded as high as $16.88 and last traded at $16.54, with a volume of 634493 shares changing hands. The stock had previously closed at $16.66.

Analysts Set New Price Targets

Several analysts have issued reports on SMWB shares. Needham & Company LLC reaffirmed a “buy” rating and issued a $14.00 target price on shares of Similarweb in a research note on Thursday, January 16th. JMP Securities reaffirmed a “market outperform” rating and set a $17.00 target price on shares of Similarweb in a report on Wednesday, December 11th. Citigroup boosted their price target on shares of Similarweb from $10.00 to $14.00 and gave the stock a “buy” rating in a research note on Thursday, November 14th. The Goldman Sachs Group initiated coverage on Similarweb in a research note on Wednesday, December 11th. They issued a “buy” rating and a $16.00 price target on the stock. Finally, Northland Securities increased their price objective on Similarweb from $17.00 to $20.00 and gave the company an “outperform” rating in a research note on Friday, January 24th. Nine equities research analysts have rated the stock with a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat, the stock presently has a consensus rating of “Buy” and an average price target of $13.88.

Similarweb Price Performance

The stock has a market capitalization of $1.34 billion, a PE ratio of -150.32 and a beta of 0.97. The company has a 50 day moving average price of $14.14 and a 200-day moving average price of $10.55.

Similarweb (NYSE:SMWB) last issued its quarterly earnings data on Tuesday, November 12th. The company reported ($0.03) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.04 by ($0.07). Similarweb had a negative net margin of 3.92% and a negative return on equity of 44.83%. The company had revenue of $64.71 million for the quarter, compared to analysts’ expectations of $62.90 million. During the same period in the previous year, the firm posted ($0.05) earnings per share. As a group, equities analysts anticipate that Similarweb Ltd. will post -0.05 earnings per share for the current year.

Institutional Trading of Similarweb

Several large investors have recently bought and sold shares of the company. Jennison Associates LLC purchased a new stake in Similarweb in the fourth quarter worth $26,059,000. P.A.W. Capital Corp bought a new stake in Similarweb during the third quarter worth about $3,536,000. Scalar Gauge Management LLC grew its holdings in Similarweb by 45.5% in the third quarter. Scalar Gauge Management LLC now owns 863,923 shares of the company’s stock worth $7,637,000 after purchasing an additional 270,000 shares during the period. Connor Clark & Lunn Investment Management Ltd. increased its stake in shares of Similarweb by 112.7% during the third quarter. Connor Clark & Lunn Investment Management Ltd. now owns 449,896 shares of the company’s stock valued at $3,977,000 after purchasing an additional 238,428 shares in the last quarter. Finally, Walleye Capital LLC lifted its holdings in shares of Similarweb by 115.9% during the third quarter. Walleye Capital LLC now owns 354,653 shares of the company’s stock valued at $3,135,000 after purchasing an additional 190,380 shares during the last quarter. 57.59% of the stock is owned by 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.