Needham & Company LLC Reiterates "Buy" Rating for Similarweb (NYSE:SMWB)

Needham & Company LLC reaffirmed their buy rating on shares of Similarweb (NYSE:SMWB - Free Report) in a report published on Wednesday morning,Benzinga reports. The brokerage currently has a $14.00 price objective on the stock.

Other equities research analysts have also issued research reports about the company. Northland Capmk raised Similarweb to a "strong-buy" rating in a research note on Tuesday, September 10th. JMP Securities upped their target price on Similarweb from $16.00 to $17.00 and gave the company a "market outperform" rating in a report on Thursday, November 14th. Northland Securities lifted their price target on Similarweb from $15.00 to $17.00 and gave the stock an "outperform" rating in a research note on Tuesday, November 26th. Citigroup increased their price objective on shares of Similarweb from $10.00 to $14.00 and gave the company a "buy" rating in a research note on Thursday, November 14th. Finally, William Blair restated an "outperform" rating on shares of Similarweb in a report on Monday, September 9th. Nine research analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, Similarweb currently has an average rating of "Buy" and an average price target of $13.50.

Similarweb Stock Performance

SMWB stock traded up $1.19 during trading on Wednesday, reaching $13.37. 1,072,105 shares of the company were exchanged, compared to its average volume of 231,434. The stock's 50 day moving average price is $10.33 and its 200 day moving average price is $8.74. Similarweb has a 52-week low of $4.91 and a 52-week high of $13.41. The company has a market cap of $1.08 billion, a P/E ratio of -118.09 and a beta of 1.03.

Institutional Trading of Similarweb

Hedge funds have recently bought and sold shares of the company. P.A.W. Capital Corp purchased a new position in shares of Similarweb during the 3rd quarter worth $3,536,000. Scalar Gauge Management LLC increased its stake in Similarweb by 45.5% in the third quarter. Scalar Gauge Management LLC now owns 863,923 shares of the company's stock valued at $7,637,000 after purchasing an additional 270,000 shares during the last quarter. Connor Clark & Lunn Investment Management Ltd. lifted its position in Similarweb by 112.7% during the third quarter. Connor Clark & Lunn Investment Management Ltd. now owns 449,896 shares of the company's stock worth $3,977,000 after buying an additional 238,428 shares during the period. Walleye Capital LLC boosted its stake in Similarweb by 115.9% in the 3rd quarter. Walleye Capital LLC now owns 354,653 shares of the company's stock worth $3,135,000 after buying an additional 190,380 shares during the last quarter. Finally, Acadian Asset Management LLC grew its holdings in Similarweb by 60.8% in the 2nd quarter. Acadian Asset Management LLC now owns 442,917 shares of the company's stock valued at $3,427,000 after buying an additional 167,500 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.