Similarweb (NYSE:SMWB) Price Target Raised to $16.00

Similarweb (NYSE:SMWB) had its price objective hoisted by JMP Securities from $14.00 to $16.00 in a research note released on Wednesday morning, Benzinga reports. JMP Securities currently has a market outperform rating on the stock.

SMWB has been the subject of a number of other research reports. Cantor Fitzgerald reissued an overweight rating and issued a $10.00 price target on shares of Similarweb in a report on Wednesday, August 7th. Barclays increased their target price on Similarweb from $9.00 to $10.00 and gave the company an overweight rating in a research note on Thursday, August 8th. Six research analysts have rated the stock with a buy rating, According to data from MarketBeat, the stock has a consensus rating of Buy and a consensus price target of $11.20.

Similarweb Price Performance

Shares of SMWB stock opened at $8.70 on Wednesday. The company’s fifty day moving average price is $7.33 and its two-hundred day moving average price is $7.81. The firm has a market capitalization of $684.26 million, a P/E ratio of -34.80 and a beta of 0.76. Similarweb has a 12 month low of $4.58 and a 12 month high of $9.76.

Institutional Inflows and Outflows

Several hedge funds have recently made changes to their positions in the company. ANTIPODES PARTNERS Ltd grew its position in shares of Similarweb by 122.5% during the 2nd quarter. ANTIPODES PARTNERS Ltd now owns 11,580 shares of the company’s stock valued at $90,000 after buying an additional 6,376 shares during the last quarter. Counterpoint Mutual Funds LLC acquired a new stake in shares of Similarweb during the 1st quarter worth approximately $136,000. Blair William & Co. IL lifted its holdings in shares of Similarweb by 20.1% in the 1st quarter. Blair William & Co. IL now owns 21,662 shares of the company’s stock worth $195,000 after purchasing an additional 3,621 shares during the last quarter. California State Teachers Retirement System boosted its position in Similarweb by 10.1% during the 1st quarter. California State Teachers Retirement System now owns 26,892 shares of the company’s stock valued at $242,000 after purchasing an additional 2,475 shares during the period. Finally, Quadrature Capital Ltd bought a new position in Similarweb during the 1st quarter worth $311,000. Institutional investors and hedge funds 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.