Similarweb Ltd. (NYSE:SMWB) Receives Average Rating of "Buy" from Analysts

Shares of Similarweb Ltd. (NYSE:SMWB - Get Free Report) have been given a consensus rating of "Buy" by the ten ratings firms that are currently covering the firm, MarketBeat reports. Nine equities research analysts have rated the stock with a buy recommendation and one has given a strong buy recommendation to the company. The average 1 year price target among analysts that have updated their coverage on the stock in the last year is $13.88.

A number of equities analysts recently issued reports on SMWB shares. Needham & Company LLC reiterated a "buy" rating and set a $14.00 price objective on shares of Similarweb in a research report on Thursday, January 16th. JMP Securities reissued a "market outperform" rating and issued a $17.00 price target on shares of Similarweb in a research note on Wednesday, December 11th. The Goldman Sachs Group assumed coverage on Similarweb in a research report on Wednesday, December 11th. They issued a "buy" rating and a $16.00 price objective for the company. Citigroup upped their price target on Similarweb from $10.00 to $14.00 and gave the stock a "buy" rating in a research note on Thursday, November 14th. Finally, William Blair reissued an "outperform" rating on shares of Similarweb in a research report on Thursday, December 19th.

Similarweb Stock Down 0.8 %

Shares of NYSE SMWB traded down $0.13 during trading hours on Wednesday, hitting $16.54. The company had a trading volume of 634,493 shares, compared to its average volume of 661,755. Similarweb has a 1-year low of $5.71 and a 1-year high of $16.88. The stock has a market capitalization of $1.34 billion, a P/E ratio of -150.32 and a beta of 0.97. The firm's 50 day moving average is $14.14 and its 200-day moving average is $10.55.

Similarweb (NYSE:SMWB - Get Free Report) last released its quarterly earnings results 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). Similarweb had a negative return on equity of 44.83% and a negative net margin of 3.92%. The firm had revenue of $64.71 million for the quarter, compared to analyst estimates of $62.90 million. During the same period in the previous year, the business posted ($0.05) earnings per share. On average, sell-side analysts predict that Similarweb will post -0.05 earnings per share for the current year.

Institutional Trading of Similarweb

Several hedge funds have recently modified their holdings of SMWB. Jennison Associates LLC purchased a new stake in Similarweb in the 4th quarter worth $26,059,000. P.A.W. Capital Corp acquired a new position in shares of Similarweb during the 3rd quarter valued at about $3,536,000. Scalar Gauge Management LLC boosted its position in shares of Similarweb by 45.5% during the 3rd quarter. Scalar Gauge Management LLC now owns 863,923 shares of the company's stock valued at $7,637,000 after acquiring an additional 270,000 shares during the last quarter. Connor Clark & Lunn Investment Management Ltd. grew its holdings in shares of Similarweb by 112.7% in the third quarter. Connor Clark & Lunn Investment Management Ltd. now owns 449,896 shares of the company's stock valued at $3,977,000 after purchasing an additional 238,428 shares during the period. Finally, Walleye Capital LLC increased its position in Similarweb by 115.9% during the third 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 during the last quarter. 57.59% of the stock is owned by hedge funds and other 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.