Similarweb (NYSE:SMWB) Shares Up 5.1% After Analyst Upgrade

Similarweb Ltd. (NYSE:SMWB) traded up 5.1% on Monday after Jefferies Financial Group raised their price target on the stock from $13.00 to $23.00. Jefferies Financial Group currently has a buy rating on the stock. Similarweb traded as high as $16.98 and last traded at $17.03. 241,526 shares traded hands during mid-day trading, a decline of 62% from the average session volume of 627,399 shares. The stock had previously closed at $16.21.

SMWB has been the subject of a number of other research reports. JMP Securities reaffirmed a “market outperform” rating and issued a $17.00 price target on shares of Similarweb in a research note on Wednesday, December 11th. 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 target price on the stock. William Blair reiterated an “outperform” rating on shares of Similarweb in a research report on Thursday, December 19th. Needham & Company LLC reaffirmed a “buy” rating and set a $14.00 price objective on shares of Similarweb in a research report on Thursday, January 16th. Finally, 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. 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 an average rating of “Buy” and a consensus target price of $15.50.

Institutional Investors Weigh In On Similarweb

Several hedge funds have recently added to or reduced their stakes in SMWB. Global Retirement Partners LLC purchased a new position in shares of Similarweb in the fourth quarter worth $29,000. New York State Common Retirement Fund bought a new stake in Similarweb in the 4th quarter worth about $39,000. Public Employees Retirement System of Ohio purchased a new position in Similarweb in the 3rd quarter worth about $70,000. Quantbot Technologies LP bought a new position in Similarweb during the 3rd quarter valued at about $75,000. Finally, Heck Capital Advisors LLC purchased a new stake in shares of Similarweb during the 4th quarter valued at about $115,000. 57.59% of the stock is owned by institutional investors.

Similarweb Price Performance

The business’s 50 day moving average price is $14.30 and its 200 day moving average price is $10.71. The stock has a market capitalization of $1.37 billion, a P/E ratio of -154.17 and a beta of 0.99.

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

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.