Similarweb (NYSE:SMWB) Given New $17.00 Price Target at JMP Securities

Similarweb (NYSE:SMWB) had its target price hoisted by research analysts at JMP Securities from $16.00 to $17.00 in a research report issued to clients and investors on Thursday,Benzinga reports. The firm presently has a “market outperform” rating on the stock. JMP Securities’ price target would indicate a potential upside of 45.30% from the stock’s current price.

Other equities research analysts have also recently issued research reports about the company. Northland Securities started coverage on Similarweb in a research note on Tuesday, September 10th. They issued an “outperform” rating and a $15.00 price target for the company. Needham & Company LLC increased their price target on shares of Similarweb from $11.00 to $14.00 and gave the stock a “buy” rating in a research note on Thursday. William Blair restated an “outperform” rating on shares of Similarweb in a report on Monday, September 9th. Northland Capmk upgraded shares of Similarweb to a “strong-buy” rating in a report on Tuesday, September 10th. Finally, Cantor Fitzgerald restated an “overweight” rating and set a $10.00 target price on shares of Similarweb in a report on Wednesday, August 7th. Eight investment analysts have rated the stock with a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of “Buy” and an average target price of $12.29.

Similarweb Stock Performance

Shares of NYSE:SMWB traded up $0.58 during midday trading on Thursday, hitting $11.70. 548,524 shares of the stock were exchanged, compared to its average volume of 199,041. The business’s fifty day simple moving average is $8.96 and its two-hundred day simple moving average is $8.09. Similarweb has a 52-week low of $4.58 and a 52-week high of $11.79. The company has a market capitalization of $946.76 million, a PE ratio of -106.82 and a beta of 0.84.

Hedge Funds Weigh In On Similarweb

Several large investors have recently made changes to their positions in the business. Quantbot Technologies LP bought a new stake in shares of Similarweb in the third quarter valued at approximately $75,000. ANTIPODES PARTNERS Ltd grew its position in Similarweb by 122.5% in the 2nd quarter. ANTIPODES PARTNERS Ltd now owns 11,580 shares of the company’s stock worth $90,000 after purchasing an additional 6,376 shares during the last quarter. State of New Jersey Common Pension Fund D bought a new position in shares of Similarweb during the 3rd quarter worth about $122,000. Blair William & Co. IL raised its position in shares of Similarweb by 20.1% during the first quarter. Blair William & Co. IL now owns 21,662 shares of the company’s stock valued at $195,000 after buying an additional 3,621 shares during the last quarter. Finally, California State Teachers Retirement System lifted its stake in shares of Similarweb by 10.1% in the first quarter. California State Teachers Retirement System now owns 26,892 shares of the company’s stock valued at $242,000 after buying an additional 2,475 shares during the period. Institutional investors and hedge funds 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.