Similarweb (NYSE:SMWB) Stock Price Expected to Rise, Citigroup Analyst Says

Similarweb (NYSE:SMWB) had its price objective hoisted by Citigroup from $14.00 to $22.00 in a research note published on Tuesday,Benzinga reports. They currently have a buy rating on the stock.

Several other research firms have also recently weighed in on SMWB. Jefferies Financial Group upped their price objective on Similarweb from $13.00 to $23.00 and gave the stock a “buy” rating in a research report on Monday, February 3rd. Needham & Company LLC reaffirmed a “buy” rating and set a $14.00 price target on shares of Similarweb in a research note on Thursday, January 16th. William Blair restated an “outperform” rating on shares of Similarweb in a report on Thursday, December 19th. Northland Securities lifted their price target on shares of Similarweb from $17.00 to $20.00 and gave the company an “outperform” rating in a research note on Friday, January 24th. Finally, The Goldman Sachs Group assumed coverage on shares of Similarweb in a research note on Wednesday, December 11th. They set a “buy” rating and a $16.00 price objective for the company. Nine research analysts have rated the stock with a buy rating and one has given a strong buy rating to the company. According to MarketBeat, the stock presently has a consensus rating of “Buy” and a consensus target price of $16.50.

Similarweb Stock Performance

Shares of SMWB stock opened at $16.73 on Tuesday. Similarweb has a 52 week low of $5.71 and a 52 week high of $17.64. The company’s 50 day moving average price is $14.95 and its two-hundred day moving average price is $11.21. The company has a market capitalization of $1.35 billion, a P/E ratio of -152.11 and a beta of 0.99.

Similarweb (NYSE:SMWB) last issued its quarterly earnings data on Tuesday, February 11th. The company reported ($0.07) EPS for the quarter, missing analysts’ consensus estimates of $0.03 by ($0.10). Similarweb had a negative return on equity of 44.83% and a negative net margin of 3.92%. Analysts forecast that Similarweb will post -0.05 earnings per share for the current year.

Hedge Funds Weigh In On Similarweb

A number of hedge funds and other institutional investors have recently bought and sold shares of SMWB. KLP Kapitalforvaltning AS acquired a new stake in shares of Similarweb in the fourth quarter valued at approximately $115,000. Sei Investments Co. bought a new position in Similarweb during the fourth quarter worth $966,000. Quantbot Technologies LP increased its holdings in shares of Similarweb by 247.3% in the fourth quarter. Quantbot Technologies LP now owns 29,652 shares of the company’s stock valued at $420,000 after purchasing an additional 21,115 shares during the last quarter. Teacher Retirement System of Texas bought a new position in shares of Similarweb in the fourth quarter valued at about $153,000. Finally, Natixis Advisors LLC acquired a new stake in shares of Similarweb during the 4th quarter worth about $255,000. Institutional investors own 57.59% of the company’s stock.

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.