Similarweb (NYSE:SMWB) Reaches New 52-Week High After Analyst Upgrade

Similarweb Ltd. (NYSE:SMWB - Get Free Report)'s share price reached a new 52-week high during trading on Tuesday after Citigroup raised their price target on the stock from $14.00 to $22.00. Citigroup currently has a buy rating on the stock. Similarweb traded as high as $17.64 and last traded at $17.05, with a volume of 529197 shares. The stock had previously closed at $17.08.

Other equities analysts have also issued reports about the company. The Goldman Sachs Group assumed coverage on Similarweb in a research report on Wednesday, December 11th. They set a "buy" rating and a $16.00 price target on the stock. Needham & Company LLC reiterated a "buy" rating and set a $14.00 target price on shares of Similarweb in a research note on Thursday, January 16th. JMP Securities reiterated a "market outperform" rating and set a $17.00 target price on shares of Similarweb in a research note on Wednesday, December 11th. Northland Securities increased their target price on Similarweb from $17.00 to $20.00 and gave the company an "outperform" rating in a research note on Friday, January 24th. Finally, William Blair reiterated an "outperform" rating on shares of Similarweb in a research note on Thursday, December 19th. Nine analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the company's stock. Based on data from MarketBeat, the company currently has a consensus rating of "Buy" and an average price target of $16.50.

Institutional Investors Weigh In On Similarweb

Several institutional investors and hedge funds have recently made changes to their positions in the company. PDT Partners LLC acquired a new stake in shares of Similarweb during the 4th quarter valued at approximately $534,000. Schonfeld Strategic Advisors LLC acquired a new stake in shares of Similarweb during the 4th quarter valued at approximately $22,536,000. Northern Trust Corp raised its position in shares of Similarweb by 437.4% during the 4th quarter. Northern Trust Corp now owns 66,277 shares of the company's stock valued at $939,000 after acquiring an additional 53,945 shares in the last quarter. T. Rowe Price Investment Management Inc. acquired a new stake in shares of Similarweb during the 4th quarter valued at approximately $9,563,000. Finally, Freedom Investment Management Inc. acquired a new stake in shares of Similarweb during the 4th quarter valued at approximately $191,000. 57.59% of the stock is owned by institutional investors and hedge funds.

Similarweb Trading Up 2.2 %

The company has a 50-day moving average of $14.83 and a 200-day moving average of $11.24. The firm has a market capitalization of $875.96 million, a price-to-earnings ratio of -98.41 and a beta of 0.99.

Similarweb (NYSE:SMWB - Get Free Report) last issued its earnings results on Tuesday, February 11th. The company reported ($0.07) earnings per share for the quarter, missing the consensus estimate of $0.03 by ($0.10). Similarweb had a negative return on equity of 44.83% and a negative net margin of 3.92%. On average, research analysts forecast that Similarweb Ltd. will post -0.05 earnings per share for the current year.

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.