Similarweb (NYSE:SMWB) Receives "Buy" Rating from Needham & Company LLC

Needham & Company LLC reissued their buy rating on shares of Similarweb (NYSE:SMWB - Free Report) in a research report report published on Thursday,Benzinga reports. They currently have a $14.00 price objective on the stock.

Other equities analysts have also issued research reports about the stock. JMP Securities restated a "market outperform" rating and issued a $17.00 target price on shares of Similarweb in a report on Wednesday, December 11th. Citigroup boosted their target price on shares of Similarweb from $10.00 to $14.00 and gave the company a "buy" rating in a report on Thursday, November 14th. The Goldman Sachs Group began coverage on shares of Similarweb in a report on Wednesday, December 11th. They issued a "buy" rating and a $16.00 target price on the stock. Northland Securities upped their price objective on shares of Similarweb from $15.00 to $17.00 and gave the company an "outperform" rating in a report on Tuesday, November 26th. Finally, William Blair reiterated an "outperform" rating on shares of Similarweb in a report on Thursday, December 19th. Nine investment analysts have rated the stock with a buy rating and one has issued a strong buy rating to the company's stock. According to MarketBeat, the company presently has an average rating of "Buy" and an average price target of $13.50.

Similarweb Trading Down 1.9 %

SMWB stock traded down $0.30 during midday trading on Thursday, hitting $15.77. The stock had a trading volume of 963,773 shares, compared to its average volume of 650,837. The firm has a market cap of $1.28 billion, a P/E ratio of -143.38 and a beta of 0.97. Similarweb has a 1-year low of $5.25 and a 1-year high of $16.33. The business has a fifty day moving average price of $13.17 and a two-hundred day moving average price of $9.92.

Institutional Investors Weigh In On Similarweb

A number of institutional investors and hedge funds have recently made changes to their positions in the business. P.A.W. Capital Corp bought a new stake in Similarweb in the 3rd quarter worth about $3,536,000. Scalar Gauge Management LLC grew its position in Similarweb by 45.5% in the 3rd quarter. Scalar Gauge Management LLC now owns 863,923 shares of the company's stock worth $7,637,000 after purchasing an additional 270,000 shares in the last quarter. Connor Clark & Lunn Investment Management Ltd. grew its position 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. Walleye Capital LLC grew its position 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 purchasing an additional 190,380 shares in the last quarter. Finally, JPMorgan Chase & Co. grew its position in Similarweb by 147.4% in the 3rd quarter. JPMorgan Chase & Co. now owns 171,539 shares of the company's stock worth $1,516,000 after purchasing an additional 102,192 shares in the last quarter. 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.