Similarweb (NYSE:SMWB) Trading Up 5.1% Following Analyst Upgrade

Shares of Similarweb Ltd. (NYSE:SMWB - Get Free Report) rose 5.1% during trading on Monday after Jefferies Financial Group raised their price target on the stock from $13.00 to $23.00. Jefferies Financial Group currently has a buy rating on the stock. Similarweb traded as high as $16.98 and last traded at $17.03. Approximately 241,526 shares traded hands during mid-day trading, a decline of 62% from the average daily volume of 627,399 shares. The stock had previously closed at $16.21.

SMWB has been the topic of a number of other research reports. The Goldman Sachs Group assumed coverage on shares of Similarweb in a report on Wednesday, December 11th. They issued a "buy" rating and a $16.00 price target on the stock. Citigroup raised their price objective on Similarweb from $10.00 to $14.00 and gave the company a "buy" rating in a research note on Thursday, November 14th. JMP Securities reiterated a "market outperform" rating and issued a $17.00 target price on shares of Similarweb in a research report on Wednesday, December 11th. Northland Securities upped their price objective on Similarweb from $17.00 to $20.00 and gave the stock an "outperform" rating in a research note on Friday, January 24th. Finally, Needham & Company LLC reissued a "buy" rating and issued a $14.00 price objective on shares of Similarweb in a report on Thursday, January 16th. Nine analysts have rated the stock with a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of "Buy" and an average price target of $15.50.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently bought and sold shares of SMWB. Global Retirement Partners LLC bought a new position in Similarweb during the 4th quarter worth $29,000. New York State Common Retirement Fund acquired a new stake in shares of Similarweb during the 4th quarter worth $39,000. Public Employees Retirement System of Ohio bought a new position in shares of Similarweb in the third quarter worth $70,000. Quantbot Technologies LP acquired a new position in Similarweb in the third quarter valued at about $75,000. Finally, Heck Capital Advisors LLC bought a new stake in Similarweb during the fourth quarter worth about $115,000. Institutional investors and hedge funds own 57.59% of the company's stock.

Similarweb Stock Down 1.2 %

The business's 50 day simple moving average is $14.58 and its 200-day simple moving average is $10.89. The stock has a market capitalization of $1.40 billion, a price-to-earnings ratio of -156.81 and a beta of 0.99.

Similarweb (NYSE:SMWB - Get Free Report) last issued its earnings results on Tuesday, November 12th. The company reported ($0.03) EPS for the quarter, missing the consensus estimate of $0.04 by ($0.07). The business had revenue of $64.71 million for the quarter, compared to analyst estimates 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 period in the previous year, the firm posted ($0.05) EPS. On average, analysts expect that Similarweb Ltd. will post -0.05 earnings per share for the current year.

Similarweb Company Profile

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.