Similarweb (NYSE:SMWB) Sets New 1-Year High - Here's Why

Similarweb Ltd. (NYSE:SMWB - Get Free Report) shares hit a new 52-week high on Thursday . The stock traded as high as $16.88 and last traded at $16.54, with a volume of 634493 shares. The stock had previously closed at $16.66.

Wall Street Analyst Weigh In

SMWB has been the subject of several recent research reports. JMP Securities reissued a "market outperform" rating and issued a $17.00 price target on shares of Similarweb in a research report on Wednesday, December 11th. Northland Securities increased their price target on Similarweb from $17.00 to $20.00 and gave the company an "outperform" rating in a research report on Friday, January 24th. William Blair reissued an "outperform" rating on shares of Similarweb in a research report on Thursday, December 19th. Needham & Company LLC reiterated a "buy" rating and set a $14.00 price target on shares of Similarweb in a report on Thursday, January 16th. Finally, Citigroup raised their price objective on shares of Similarweb from $10.00 to $14.00 and gave the company a "buy" rating in a report on Thursday, November 14th. Nine research analysts have rated the stock with a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of "Buy" and a consensus target price of $13.88.

Similarweb Trading Up 3.3 %

The stock has a market capitalization of $1.38 billion, a price-to-earnings ratio of -154.98 and a beta of 0.97. The company's 50 day moving average is $14.14 and its 200 day moving average is $10.55.

Similarweb (NYSE:SMWB - Get Free Report) last posted 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). The firm had revenue of $64.71 million for the quarter, compared to analyst estimates of $62.90 million. Similarweb had a negative return on equity of 44.83% and a negative net margin of 3.92%. During the same quarter last year, the firm posted ($0.05) EPS. Analysts anticipate that Similarweb Ltd. will post -0.05 EPS for the current fiscal year.

Institutional Inflows and Outflows

Institutional investors have recently bought and sold shares of the business. Cubist Systematic Strategies LLC grew its stake in shares of Similarweb by 4.4% in the 2nd quarter. Cubist Systematic Strategies LLC now owns 51,272 shares of the company's stock valued at $398,000 after purchasing an additional 2,138 shares during the last quarter. XTX Topco Ltd grew its position in Similarweb by 9.0% in the 3rd quarter. XTX Topco Ltd now owns 53,980 shares of the company's stock valued at $477,000 after buying an additional 4,453 shares during the last quarter. Renaissance Technologies LLC raised its position in Similarweb by 4.3% during the 2nd quarter. Renaissance Technologies LLC now owns 110,600 shares of the company's stock worth $859,000 after buying an additional 4,599 shares during the last quarter. Public Employees Retirement System of Ohio acquired a new stake in shares of Similarweb in the 3rd quarter worth $70,000. Finally, Heck Capital Advisors LLC purchased a new stake in shares of Similarweb in the fourth quarter valued at about $115,000. 57.59% of the stock is currently owned by institutional investors and hedge funds.

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.