Similarweb (NYSE:SMWB) Sees Strong Trading Volume - Still a Buy?

Similarweb Ltd. (NYSE:SMWB - Get Free Report) saw unusually-strong trading volume on Wednesday . Approximately 375,708 shares traded hands during trading, a decline of 19% from the previous session's volume of 462,825 shares.The stock last traded at $15.96 and had previously closed at $15.12.

Analyst Ratings Changes

A number of equities research analysts have weighed in on the company. William Blair reaffirmed an "outperform" rating on shares of Similarweb in a report on Thursday, December 19th. The Goldman Sachs Group assumed coverage on Similarweb in a report on Wednesday, December 11th. They set a "buy" rating and a $16.00 price objective on the stock. Needham & Company LLC reiterated a "buy" rating and issued a $14.00 price objective on shares of Similarweb in a research report on Wednesday, December 11th. Northland Securities boosted their price objective on shares of Similarweb from $15.00 to $17.00 and gave the stock an "outperform" rating in a report on Tuesday, November 26th. Finally, 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. Nine investment 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, Similarweb presently has a consensus rating of "Buy" and a consensus price target of $13.50.

Similarweb Stock Performance

The business has a fifty day simple moving average of $13.03 and a 200 day simple moving average of $9.88. The stock has a market cap of $1.30 billion, a price-to-earnings ratio of -145.91 and a beta of 0.97.

Institutional Trading of Similarweb

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Cubist Systematic Strategies LLC lifted its holdings in 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 in the last quarter. XTX Topco Ltd lifted its stake in shares of Similarweb by 9.0% during the third 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 period. Renaissance Technologies LLC boosted its position in Similarweb by 4.3% during the second quarter. Renaissance Technologies LLC now owns 110,600 shares of the company's stock worth $859,000 after acquiring an additional 4,599 shares during the last quarter. Public Employees Retirement System of Ohio purchased a new stake in Similarweb in the 3rd quarter worth approximately $70,000. Finally, Quantbot Technologies LP purchased a new stake in Similarweb in the 3rd quarter worth approximately $75,000. 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.