Similarweb (NYSE:SMWB) Sets New 1-Year High - Time to Buy?

Similarweb Ltd. (NYSE:SMWB - Get Free Report) reached a new 52-week high during trading on Friday . The stock traded as high as $9.97 and last traded at $9.90, with a volume of 45972 shares. The stock had previously closed at $9.58.

Analysts Set New Price Targets

SMWB has been the topic of several recent analyst reports. Cantor Fitzgerald reissued an "overweight" rating and issued a $10.00 price target on shares of Similarweb in a research note on Wednesday, August 7th. William Blair reissued an "outperform" rating on shares of Similarweb in a research note on Monday, September 9th. Needham & Company LLC began coverage on shares of Similarweb in a research note on Monday, October 21st. They issued a "buy" rating and a $11.00 price target for the company. JMP Securities increased their price objective on shares of Similarweb from $14.00 to $16.00 and gave the stock a "market outperform" rating in a research report on Wednesday, August 21st. Finally, Northland Securities assumed coverage on Similarweb in a research report on Tuesday, September 10th. They issued an "outperform" rating and a $15.00 target price for the company. Eight analysts have rated the stock with a buy rating and one has given a strong buy rating to the company's stock. According to MarketBeat.com, the stock has an average rating of "Buy" and a consensus price target of $11.71.

Similarweb Stock Performance

The business has a 50 day simple moving average of $8.86 and a 200-day simple moving average of $8.01. The firm has a market cap of $805.15 million, a price-to-earnings ratio of -70.35 and a beta of 0.84.

Similarweb (NYSE:SMWB - Get Free Report) last announced its earnings results on Tuesday, August 6th. The company reported ($0.01) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.05) by $0.04. The company had revenue of $60.64 million for the quarter, compared to analysts' expectations of $60.23 million. Similarweb had a negative return on equity of 60.53% and a negative net margin of 5.07%. As a group, research analysts anticipate that Similarweb Ltd. will post -0.04 earnings per share for the current year.

Institutional Investors Weigh In On Similarweb

A number of institutional investors have recently added to or reduced their stakes in the company. Connor Clark & Lunn Investment Management Ltd. boosted its stake in shares of Similarweb by 112.7% in the 3rd quarter. Connor Clark & Lunn Investment Management Ltd. now owns 449,896 shares of the company's stock worth $3,977,000 after buying an additional 238,428 shares during the last quarter. Oppenheimer & Co. Inc. lifted its holdings in Similarweb by 9.8% during the third quarter. Oppenheimer & Co. Inc. now owns 106,607 shares of the company's stock worth $942,000 after acquiring an additional 9,555 shares during the period. State of New Jersey Common Pension Fund D purchased a new position in Similarweb in the third quarter worth $122,000. P.A.W. Capital Corp bought a new position in Similarweb in the 3rd quarter valued at $3,536,000. Finally, Inspire Investing LLC purchased a new stake in shares of Similarweb during the 3rd quarter valued at $886,000. 57.59% of the stock is owned by institutional investors.

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.