Similarweb (NYSE:SMWB) Price Target Raised to $23.00

Similarweb (NYSE:SMWB) had its target price increased by Jefferies Financial Group from $13.00 to $23.00 in a research report released on Monday morning,Benzinga reports. The firm currently has a buy rating on the stock.

Several other analysts have also commented on SMWB. JMP Securities restated a “market outperform” rating and issued a $17.00 price objective on shares of Similarweb in a report on Wednesday, December 11th. Needham & Company LLC reiterated a “buy” rating and set a $14.00 target price on shares of Similarweb in a report on Thursday, January 16th. The Goldman Sachs Group started 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. Northland Securities lifted 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. Finally, William Blair restated an “outperform” rating on shares of Similarweb in a research note on Thursday, December 19th. Nine investment analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, Similarweb presently has an average rating of “Buy” and a consensus price target of $15.50.

Similarweb Trading Up 0.9 %

Shares of NYSE SMWB opened at $17.48 on Monday. The firm has a market cap of $1.41 billion, a price-to-earnings ratio of -158.86 and a beta of 0.99. The stock has a fifty day simple moving average of $14.58 and a two-hundred day simple moving average of $10.89. Similarweb has a 1-year low of $5.71 and a 1-year high of $17.56.

Similarweb (NYSE:SMWB) last announced its quarterly earnings data on Tuesday, November 12th. The company reported ($0.03) earnings per share for the quarter, missing the consensus estimate of $0.04 by ($0.07). The firm had revenue of $64.71 million during the quarter, compared to analysts’ expectations 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 business posted ($0.05) EPS. Analysts forecast that Similarweb will post -0.05 EPS for the current year.

Institutional Investors Weigh In On Similarweb

A number of large investors have recently made changes to their positions in SMWB. Connor Clark & Lunn Investment Management Ltd. lifted its holdings in Similarweb by 112.7% in the 3rd quarter. Connor Clark & Lunn Investment Management Ltd. now owns 449,896 shares of the company’s stock worth $3,977,000 after purchasing an additional 238,428 shares in the last quarter. State Street Corp raised its position in shares of Similarweb by 32.5% during the third quarter. State Street Corp now owns 187,919 shares of the company’s stock valued at $1,661,000 after buying an additional 46,102 shares during the last quarter. Inspire Investing LLC purchased a new position in shares of Similarweb in the third quarter worth $886,000. JPMorgan Chase & Co. boosted its position in shares of Similarweb by 147.4% during the third quarter. JPMorgan Chase & Co. now owns 171,539 shares of the company’s stock worth $1,516,000 after acquiring an additional 102,192 shares during the last quarter. Finally, Atom Investors LP grew its stake in Similarweb by 41.1% during the third quarter. Atom Investors LP now owns 143,942 shares of the company’s stock valued at $1,272,000 after acquiring an additional 41,935 shares in the last quarter. 57.59% of the stock is currently 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.