Similarweb Ltd. (NYSE:SMWB) Given Average Recommendation of "Buy" by Brokerages

Similarweb Ltd. (NYSE:SMWB - Get Free Report) has received a consensus rating of "Buy" from the nine ratings firms that are currently covering the firm, MarketBeat.com reports. Eight equities research analysts have rated the stock with a buy rating and one has issued a strong buy rating on the company. The average 1-year price target among brokers that have covered the stock in the last year is $12.86.

A number of brokerages have weighed in on SMWB. Barclays raised their price objective on Similarweb from $9.00 to $10.00 and gave the company an "overweight" rating in a report on Thursday, August 8th. William Blair reissued an "outperform" rating on shares of Similarweb in a research note on Monday, September 9th. Cantor Fitzgerald reaffirmed an "overweight" rating and set a $10.00 price objective on shares of Similarweb in a research note on Wednesday, August 7th. Northland Securities started coverage on shares of Similarweb in a report on Tuesday, September 10th. They issued an "outperform" rating and a $15.00 price objective for the company. Finally, Northland Capmk upgraded Similarweb to a "strong-buy" rating in a report on Tuesday, September 10th.

Similarweb Stock Down 2.9 %

Shares of SMWB stock traded down $0.34 during trading hours on Friday, hitting $11.51. 465,712 shares of the company's stock were exchanged, compared to its average volume of 201,642. Similarweb has a fifty-two week low of $4.58 and a fifty-two week high of $11.95. The firm has a market cap of $931.38 million, a P/E ratio of -105.09 and a beta of 0.84. The firm has a 50 day moving average of $9.02 and a two-hundred day moving average of $8.12.

Institutional Inflows and Outflows

Institutional investors have recently added to or reduced their stakes in the company. Quantbot Technologies LP acquired a new stake in shares of Similarweb during the 3rd quarter worth about $75,000. ANTIPODES PARTNERS Ltd increased its stake in Similarweb by 122.5% in the second 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. State of New Jersey Common Pension Fund D acquired a new stake in Similarweb during the third quarter worth approximately $122,000. Verition Fund Management LLC purchased a new stake in shares of Similarweb during the 3rd quarter worth approximately $160,000. Finally, Blair William & Co. IL boosted its holdings in shares of Similarweb by 20.1% in the 1st quarter. Blair William & Co. IL now owns 21,662 shares of the company's stock valued at $195,000 after buying an additional 3,621 shares in the last quarter. Hedge funds and other institutional investors own 57.59% of the company's stock.

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.