Similarweb (NYSE:SMWB) Reaches New 1-Year High After Analyst Upgrade

Similarweb Ltd. (NYSE:SMWB - Get Free Report)'s stock price hit a new 52-week high on Friday after Northland Securities raised their price target on the stock from $17.00 to $20.00. Northland Securities currently has an outperform rating on the stock. Similarweb traded as high as $16.61 and last traded at $16.58, with a volume of 133801 shares changing hands. The stock had previously closed at $16.05.

Other equities research analysts also recently issued research reports about the stock. William Blair reaffirmed an "outperform" rating on shares of Similarweb in a research report on Thursday, December 19th. JMP Securities reissued a "market outperform" rating and set a $17.00 target price on shares of Similarweb in a research note 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 research note on Thursday, November 14th. The Goldman Sachs Group began coverage on shares of Similarweb in a research note on Wednesday, December 11th. They set a "buy" rating and a $16.00 target price for the company. Finally, Needham & Company LLC reissued a "buy" rating and set a $14.00 target price on shares of Similarweb in a research note on Thursday, January 16th. Nine analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the company's stock. Based on data from MarketBeat.com, Similarweb currently has an average rating of "Buy" and an average target price of $13.88.

Institutional Trading of Similarweb

A number of institutional investors have recently made changes to their positions in the stock. Calamos Advisors LLC lifted its stake in shares of Similarweb by 147.4% in the 4th quarter. Calamos Advisors LLC now owns 171,167 shares of the company's stock worth $2,425,000 after acquiring an additional 101,975 shares during the period. Jennison Associates LLC bought a new stake in shares of Similarweb in the 4th quarter worth approximately $26,059,000. Heck Capital Advisors LLC bought a new stake in shares of Similarweb in the 4th quarter worth approximately $115,000. International Assets Investment Management LLC bought a new stake in shares of Similarweb in the 4th quarter worth approximately $154,000. Finally, JPMorgan Chase & Co. raised its holdings in shares of 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. 57.59% of the stock is owned by institutional investors and hedge funds.

Similarweb Trading Up 3.7 %

The business's fifty day moving average is $13.78 and its 200 day moving average is $10.25. The firm has a market capitalization of $1.35 billion, a P/E ratio of -151.36 and a beta of 0.97.

Similarweb (NYSE:SMWB - Get Free Report) last released its earnings results on Tuesday, November 12th. The company reported ($0.03) EPS for the quarter, missing analysts' consensus estimates 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 business had revenue of $64.71 million during the quarter, compared to the consensus estimate of $62.90 million. During the same quarter in the previous year, the firm earned ($0.05) earnings per share. As a group, sell-side analysts predict that Similarweb Ltd. will post -0.05 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.