Similarweb (NYSE:SMWB) Trading Up 4.1%

Shares of Similarweb Ltd. (NYSE:SMWB) traded up 4.1% during trading on Tuesday . The stock traded as high as $8.47 and last traded at $8.44. 123,649 shares were traded during mid-day trading, a decline of 26% from the average session volume of 167,123 shares. The stock had previously closed at $8.11.

Analyst Upgrades and Downgrades

Several research firms recently weighed in on SMWB. Barclays lifted their target price on shares of Similarweb from $9.00 to $10.00 and gave the company an “overweight” rating in a report on Thursday, August 8th. JMP Securities lifted their price objective on Similarweb from $14.00 to $16.00 and gave the company a “market outperform” rating in a research note on Wednesday. Finally, Cantor Fitzgerald reissued an “overweight” rating and set a $10.00 target price on shares of Similarweb in a research note on Wednesday, August 7th. Six analysts have rated the stock with a buy rating, Based on data from MarketBeat, the company currently has a consensus rating of “Buy” and a consensus price target of $11.20.

Similarweb Stock Down 1.2 %

The firm has a market cap of $691.33 million, a PE ratio of -35.60 and a beta of 0.76. The business has a 50-day moving average price of $7.29 and a two-hundred day moving average price of $7.78.

Hedge Funds Weigh In On Similarweb

Institutional investors and hedge funds have recently made changes to their positions in the stock. Russell Investments Group Ltd. purchased a new position in Similarweb in the first quarter worth approximately $2,820,000. Oppenheimer & Co. Inc. acquired a new stake in Similarweb in the first quarter valued at $654,000. Scalar Gauge Management LLC purchased a new stake in Similarweb during the 4th quarter worth about $1,188,000. Acadian Asset Management LLC increased its holdings in shares of Similarweb by 3,663.6% in the 1st quarter. Acadian Asset Management LLC now owns 275,417 shares of the company’s stock valued at $2,468,000 after acquiring an additional 268,099 shares during the last quarter. Finally, Circumference Group LLC purchased a new stake in Similarweb during the fourth quarter worth approximately $725,000. 57.59% of the stock is 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.