Citigroup Issues Positive Forecast for Similarweb (NYSE:SMWB) Stock Price

Similarweb (NYSE:SMWB) had its price objective increased by Citigroup from $10.00 to $14.00 in a report published on Thursday,Benzinga reports. The firm currently has a buy rating on the stock.

Several other equities analysts also recently weighed in on SMWB. Northland Capmk raised Similarweb to a “strong-buy” rating in a research report on Tuesday, September 10th. Cantor Fitzgerald restated an “overweight” rating and issued a $10.00 target price on shares of Similarweb in a report on Wednesday, August 7th. JMP Securities upped their price target on shares of Similarweb from $16.00 to $17.00 and gave the company a “market outperform” rating in a report on Thursday. Needham & Company LLC raised their price objective on shares of Similarweb from $11.00 to $14.00 and gave the stock a “buy” rating in a research note on Thursday. Finally, Barclays upped their target price on Similarweb from $9.00 to $10.00 and gave the company an “overweight” rating in a research note on Thursday, August 8th. Eight analysts have rated the stock with a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, the company has a consensus rating of “Buy” and a consensus price target of $12.86.

Similarweb Stock Performance

SMWB stock traded down $0.31 during trading on Thursday, hitting $11.54. 199,953 shares of the company’s stock traded hands, compared to its average volume of 200,445. Similarweb has a 52 week low of $4.58 and a 52 week high of $11.88. The business has a fifty day simple moving average of $9.02 and a 200 day simple moving average of $8.12. The stock has a market capitalization of $933.81 million, a price-to-earnings ratio of -105.09 and a beta of 0.84.

Institutional Trading of Similarweb

Hedge funds have recently made changes to their positions in the company. Quantbot Technologies LP purchased a new stake in Similarweb during the 3rd quarter worth about $75,000. ANTIPODES PARTNERS Ltd grew its stake in shares of Similarweb by 122.5% during the second quarter. ANTIPODES PARTNERS Ltd now owns 11,580 shares of the company’s stock worth $90,000 after purchasing an additional 6,376 shares in the last quarter. State of New Jersey Common Pension Fund D purchased a new position in Similarweb in the third quarter valued at $122,000. Verition Fund Management LLC purchased a new position in Similarweb in the third quarter valued at approximately $160,000. Finally, Blair William & Co. IL grew its holdings in shares of Similarweb by 20.1% during the first quarter. Blair William & Co. IL now owns 21,662 shares of the company’s stock worth $195,000 after purchasing an additional 3,621 shares during the last quarter. Hedge funds and other 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.