Similarweb (NYSE:SMWB) Research Coverage Started at Needham & Company LLC

Needham & Company LLC initiated coverage on shares of Similarweb (NYSE:SMWB - Free Report) in a research report report published on Monday, Marketbeat.com reports. The firm issued a buy rating and a $11.00 price target on the stock.

A number of other equities research analysts also recently weighed in on SMWB. JMP Securities raised their price objective on Similarweb from $14.00 to $16.00 and gave the company a "market outperform" rating in a research report on Wednesday, August 21st. Cantor Fitzgerald reaffirmed an "overweight" rating and issued a $10.00 price objective on shares of Similarweb in a research report on Wednesday, August 7th. Northland Capmk raised shares of Similarweb to a "strong-buy" rating in a research report on Tuesday, September 10th. William Blair reaffirmed an "outperform" rating on shares of Similarweb in a report on Monday, September 9th. Finally, Northland Securities began coverage on Similarweb in a research report on Tuesday, September 10th. They set an "outperform" rating and a $15.00 price target on the stock. Eight equities research analysts have rated the stock with a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, Similarweb has a consensus rating of "Buy" and an average target price of $11.71.

Similarweb Price Performance

Shares of NYSE:SMWB remained flat at $9.17 during trading hours 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 is $8.80 and its two-hundred day moving average is $7.93. Similarweb has a twelve month low of $4.58 and a twelve month high of $9.76. The firm has a market capitalization of $742.04 million, a P/E ratio of -65.50 and a beta of 0.84.

Similarweb (NYSE:SMWB - Get Free Report) last issued its quarterly earnings data on Tuesday, August 6th. The company reported ($0.01) EPS for the quarter, topping analysts' consensus estimates of ($0.05) by $0.04. The company had revenue of $60.64 million during the quarter, compared to the consensus estimate of $60.23 million. Similarweb had a negative net margin of 5.07% and a negative return on equity of 60.53%. Equities research analysts forecast that Similarweb will post -0.04 EPS for the current year.

Hedge Funds Weigh In On Similarweb

Several hedge funds have recently made changes to their positions in the company. ANTIPODES PARTNERS Ltd grew its stake in Similarweb by 122.5% during the 2nd quarter. ANTIPODES PARTNERS Ltd now owns 11,580 shares of the company's stock valued at $90,000 after purchasing an additional 6,376 shares during the last quarter. Counterpoint Mutual Funds LLC purchased a new stake in Similarweb in the first quarter valued at approximately $136,000. Blair William & Co. IL increased its holdings in Similarweb by 20.1% in the 1st quarter. Blair William & Co. IL now owns 21,662 shares of the company's stock worth $195,000 after buying an additional 3,621 shares during the period. California State Teachers Retirement System raised its position in Similarweb by 10.1% during the 1st quarter. California State Teachers Retirement System now owns 26,892 shares of the company's stock worth $242,000 after buying an additional 2,475 shares during the last quarter. Finally, Quadrature Capital Ltd acquired a new stake in Similarweb during the 1st quarter valued at approximately $311,000. 57.59% of the stock is owned by institutional investors and hedge funds.

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.