Similarweb (NYSE:SMWB) Hits New 12-Month High - Still a Buy?

Similarweb Ltd. (NYSE:SMWB - Get Free Report)'s stock price hit a new 52-week high during mid-day trading on Wednesday . The stock traded as high as $14.11 and last traded at $14.04, with a volume of 136530 shares trading hands. The stock had previously closed at $13.48.

Analysts Set New Price Targets

SMWB has been the topic of several recent analyst reports. Northland Capmk upgraded Similarweb to a "strong-buy" rating in a report on Tuesday, September 10th. Northland Securities lifted their target price on Similarweb from $15.00 to $17.00 and gave the stock an "outperform" rating in a research report on Tuesday, November 26th. Citigroup boosted their price objective on shares of Similarweb from $10.00 to $14.00 and gave the company a "buy" rating in a research report on Thursday, November 14th. The Goldman Sachs Group started coverage on Similarweb in a report on Wednesday, December 11th. They set a "buy" rating and a $16.00 price objective on the stock. Finally, JMP Securities reaffirmed a "market outperform" rating and issued a $17.00 price objective on shares of Similarweb in a research note on Wednesday, December 11th. Nine research analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, the company has an average rating of "Buy" and an average target price of $13.50.

Similarweb Stock Up 1.4 %

The company has a market cap of $1.11 billion, a PE ratio of -124.27 and a beta of 1.03. The firm has a 50 day simple moving average of $10.89 and a 200-day simple moving average of $8.96.

Institutional Investors Weigh In On Similarweb

Several institutional investors have recently bought and sold shares of the company. Barclays PLC boosted its position in shares of Similarweb by 201.0% in the 3rd quarter. Barclays PLC now owns 15,414 shares of the company's stock worth $136,000 after purchasing an additional 10,293 shares in the last quarter. Public Employees Retirement System of Ohio purchased a new stake in Similarweb in the third quarter valued at about $70,000. XTX Topco Ltd boosted its holdings in Similarweb by 9.0% in the third quarter. XTX Topco Ltd now owns 53,980 shares of the company's stock worth $477,000 after acquiring an additional 4,453 shares in the last quarter. State Street Corp grew its stake in shares of Similarweb by 32.5% during the third quarter. State Street Corp now owns 187,919 shares of the company's stock worth $1,661,000 after acquiring an additional 46,102 shares during the last quarter. Finally, Centiva Capital LP acquired a new position in shares of Similarweb during the third quarter valued at about $212,000. 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.