Northland Securities Raises Similarweb (NYSE:SMWB) Price Target to $17.00

Similarweb (NYSE:SMWB - Free Report) had its price objective lifted by Northland Securities from $15.00 to $17.00 in a research note released on Tuesday,Benzinga reports. The firm currently has an outperform rating on the stock.

A number of other analysts also recently weighed in on SMWB. Cantor Fitzgerald reaffirmed an "overweight" rating and set a $10.00 price target on shares of Similarweb in a report on Wednesday, August 7th. Northland Capmk upgraded shares of Similarweb to a "strong-buy" rating in a research report on Tuesday, September 10th. Needham & Company LLC increased their price objective on shares of Similarweb from $11.00 to $14.00 and gave the stock a "buy" rating in a research report on Thursday, November 14th. JMP Securities raised their price target on shares of Similarweb from $16.00 to $17.00 and gave the stock a "market outperform" rating in a report on Thursday, November 14th. Finally, Citigroup raised their price target on shares of Similarweb from $10.00 to $14.00 and gave the stock a "buy" rating in a report on Thursday, November 14th. Eight research analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the company's stock. According to MarketBeat, the stock presently has a consensus rating of "Buy" and an average price target of $13.14.

Similarweb Trading Down 4.7 %

Similarweb stock traded down $0.60 during mid-day trading on Tuesday, hitting $12.20. The stock had a trading volume of 770,799 shares, compared to its average volume of 216,734. Similarweb has a 12 month low of $4.58 and a 12 month high of $12.99. The stock has a market capitalization of $987.22 million, a PE ratio of -116.55 and a beta of 0.84. The stock has a 50-day simple moving average of $9.47 and a two-hundred day simple moving average of $8.37.

Institutional Inflows and Outflows

A number of large investors have recently made changes to their positions in SMWB. Scalar Gauge Management LLC grew 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 period. Connor Clark & Lunn Investment Management Ltd. increased its position in shares of Similarweb by 112.7% during the 3rd 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 last quarter. Acadian Asset Management LLC increased its position in shares of Similarweb by 60.8% during the 2nd quarter. Acadian Asset Management LLC now owns 442,917 shares of the company's stock valued at $3,427,000 after purchasing an additional 167,500 shares during the last quarter. P.A.W. Capital Corp bought a new position in shares of Similarweb during the 3rd quarter valued at about $3,536,000. Finally, Walleye Capital LLC increased its position in shares of Similarweb by 115.9% during the 3rd quarter. Walleye Capital LLC now owns 354,653 shares of the company's stock valued at $3,135,000 after purchasing an additional 190,380 shares during the last quarter. 57.59% of the stock is owned by institutional investors.

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.