Similarweb (NYSE:SMWB) Reaches New 52-Week High - Here's What Happened

Shares of Similarweb Ltd. (NYSE:SMWB - Get Free Report) reached a new 52-week high during mid-day trading on Wednesday . The stock traded as high as $17.50 and last traded at $17.32, with a volume of 617728 shares changing hands. The stock had previously closed at $16.68.

Wall Street Analyst Weigh In

A number of brokerages recently issued reports on SMWB. Northland Securities upped their price objective on shares of Similarweb from $17.00 to $20.00 and gave the stock an "outperform" rating in a report on Friday, January 24th. Citigroup upped their price target on Similarweb from $10.00 to $14.00 and gave the stock a "buy" rating in a research note on Thursday, November 14th. The Goldman Sachs Group started coverage on Similarweb in a report on Wednesday, December 11th. They issued a "buy" rating and a $16.00 target price for the company. 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, 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. Nine analysts have rated the stock with a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, Similarweb has a consensus rating of "Buy" and an average price target of $15.50.

Similarweb Stock Down 0.9 %

The firm has a market cap of $1.38 billion, a price-to-earnings ratio of -155.51 and a beta of 0.99. The stock's 50-day moving average price is $14.77 and its 200 day moving average price is $11.01.

Similarweb (NYSE:SMWB - Get Free Report) last announced its quarterly earnings data 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 during the quarter, compared to the consensus estimate 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 in the prior year, the business posted ($0.05) EPS. On average, research analysts predict that Similarweb Ltd. will post -0.05 EPS for the current year.

Hedge Funds Weigh In On Similarweb

Several institutional investors have recently bought and sold shares of SMWB. Meitav Investment House Ltd. grew its holdings in shares of Similarweb by 17.0% during the fourth quarter. Meitav Investment House Ltd. now owns 12,846 shares of the company's stock worth $182,000 after purchasing an additional 1,870 shares during the last quarter. Global Retirement Partners LLC bought a new stake in Similarweb during the 4th quarter worth about $29,000. Cubist Systematic Strategies LLC increased its position 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 acquiring an additional 2,138 shares in the last quarter. New York State Common Retirement Fund acquired a new stake in Similarweb in the 4th quarter valued at about $39,000. Finally, XTX Topco Ltd raised its stake in shares of 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 during the last quarter. 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.