Jefferies Financial Group Increases Similarweb (NYSE:SMWB) Price Target to $23.00

Similarweb (NYSE:SMWB - Get Free Report) had its price target upped by equities researchers at Jefferies Financial Group from $13.00 to $23.00 in a research report issued on Monday,Benzinga reports. The brokerage currently has a "buy" rating on the stock. Jefferies Financial Group's target price would suggest a potential upside of 33.34% from the stock's previous close.

SMWB has been the subject of a number of other reports. Citigroup increased their price target on Similarweb from $10.00 to $14.00 and gave the company a "buy" rating in a research note on Thursday, November 14th. JMP Securities reissued a "market outperform" rating and set a $17.00 price target on shares of Similarweb in a research note on Wednesday, December 11th. The Goldman Sachs Group started coverage on Similarweb in a research note on Wednesday, December 11th. They set a "buy" rating and a $16.00 price target for the company. Northland Securities increased their price target on Similarweb from $17.00 to $20.00 and gave the company an "outperform" rating in a research note on Friday, January 24th. Finally, William Blair reissued an "outperform" rating on shares of Similarweb in a research note on Thursday, December 19th. Nine investment analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the company's stock. According to data from MarketBeat.com, Similarweb has an average rating of "Buy" and a consensus target price of $15.50.

Similarweb Price Performance

Shares of NYSE:SMWB traded down $0.21 during trading on Monday, hitting $17.25. 429,483 shares of the company's stock were exchanged, compared to its average volume of 635,102. Similarweb has a 52-week low of $5.71 and a 52-week high of $17.56. The business's 50-day simple moving average is $14.67 and its 200 day simple moving average is $10.93. The company has a market cap of $1.40 billion, a price-to-earnings ratio of -156.81 and a beta of 0.99.

Similarweb (NYSE:SMWB - Get Free Report) last released its earnings results on Tuesday, November 12th. The company reported ($0.03) earnings per share (EPS) 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 business had revenue of $64.71 million for the quarter, compared to analysts' expectations of $62.90 million. During the same quarter in the prior year, the business posted ($0.05) EPS. On average, sell-side analysts anticipate that Similarweb will post -0.05 EPS for the current fiscal year.

Institutional Inflows and Outflows

Hedge funds have recently modified their holdings of the business. Connor Clark & Lunn Investment Management Ltd. boosted 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. State Street Corp boosted its holdings in shares of Similarweb by 32.5% in the third quarter. State Street Corp now owns 187,919 shares of the company's stock valued at $1,661,000 after purchasing an additional 46,102 shares during the period. Inspire Investing LLC purchased a new stake in shares of Similarweb in the third quarter valued at approximately $886,000. JPMorgan Chase & Co. boosted its holdings in shares of Similarweb by 147.4% in the third quarter. JPMorgan Chase & Co. now owns 171,539 shares of the company's stock valued at $1,516,000 after purchasing an additional 102,192 shares during the period. Finally, Y.D. More Investments Ltd boosted its holdings in shares of Similarweb by 6.3% in the fourth quarter. Y.D. More Investments Ltd now owns 1,449,634 shares of the company's stock valued at $20,541,000 after purchasing an additional 86,500 shares during the period. Institutional investors own 57.59% of the company's stock.

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.