Brokerages Set Similarweb Ltd. (NYSE:SMWB) Price Target at $11.83

Shares of Similarweb Ltd. (NYSE:SMWB - Get Free Report) have been assigned a consensus recommendation of "Buy" from the nine analysts that are covering the stock, MarketBeat.com reports. Eight investment analysts have rated the stock with a buy rating and one has issued a strong buy rating on the company. The average 12 month target price among analysts that have issued ratings on the stock in the last year is $11.71.

Several equities research analysts have recently commented on the stock. Northland Capmk raised shares of Similarweb to a "strong-buy" rating in a research report on Tuesday, September 10th. William Blair reiterated an "outperform" rating on shares of Similarweb in a research note on Monday, September 9th. JMP Securities lifted their price objective on Similarweb from $14.00 to $16.00 and gave the stock a "market outperform" rating in a report on Wednesday, August 21st. Needham & Company LLC began coverage on shares of Similarweb in a research report on Monday. They issued a "buy" rating and a $11.00 target price for the company. Finally, Cantor Fitzgerald reiterated an "overweight" rating and issued a $10.00 price objective on shares of Similarweb in a research note on Wednesday, August 7th.

Institutional Trading of Similarweb

Institutional investors have recently bought and sold shares of the stock. Scalar Gauge Management LLC raised its holdings in shares of Similarweb by 56.8% during the second quarter. Scalar Gauge Management LLC now owns 593,923 shares of the company's stock worth $4,615,000 after purchasing an additional 215,221 shares during the last quarter. Acadian Asset Management LLC raised its stake in Similarweb by 60.8% during the second quarter. Acadian Asset Management LLC now owns 442,917 shares of the company's stock worth $3,427,000 after purchasing an additional 167,500 shares during the period. Russell Investments Group Ltd. purchased a new stake in Similarweb in the first quarter valued at $2,820,000. Roubaix Capital LLC acquired a new position in Similarweb in the first quarter valued at about $2,449,000. Finally, Essex Investment Management Co. LLC acquired a new position in shares of Similarweb in the 1st quarter worth approximately $2,344,000. 57.59% of the stock is currently owned by institutional investors and hedge funds.

Similarweb Stock Performance

Shares of Similarweb stock remained flat at $9.17 during trading on Monday. 158,759 shares of the stock traded hands, compared to its average volume of 191,455. The company's 50 day moving average price is $8.80 and its 200-day moving average price is $7.93. Similarweb has a 52-week low of $4.58 and a 52-week high of $9.76. The stock has a market capitalization of $742.04 million, a price-to-earnings ratio of -65.50 and a beta of 0.84.

Similarweb (NYSE:SMWB - Get Free Report) last released its earnings results on Tuesday, August 6th. The company reported ($0.01) earnings per share for the quarter, topping analysts' consensus estimates of ($0.05) by $0.04. Similarweb had a negative return on equity of 60.53% and a negative net margin of 5.07%. The company had revenue of $60.64 million during the quarter, compared to the consensus estimate of $60.23 million. On average, sell-side analysts expect that Similarweb will post -0.04 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.