Similarweb (NYSE:SMWB) Sees Large Volume Increase – Still a Buy?

Similarweb Ltd. (NYSE:SMWB) shares saw unusually-high trading volume on Thursday . Approximately 660,331 shares traded hands during trading, an increase of 214% from the previous session’s volume of 210,110 shares.The stock last traded at $12.59 and had previously closed at $12.23.

Analyst Upgrades and Downgrades

SMWB has been the topic of several analyst reports. William Blair reissued an “outperform” rating on shares of Similarweb in a research note on Monday, September 9th. JMP Securities boosted 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, November 14th. Citigroup lifted their price objective on Similarweb from $10.00 to $14.00 and gave the company a “buy” rating in a report on Thursday, November 14th. 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. Finally, Barclays boosted their price objective on shares of Similarweb from $9.00 to $10.00 and gave the company an “overweight” rating in a research report on Thursday, August 8th. Eight equities research analysts have rated the stock with a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, Similarweb has an average rating of “Buy” and an average price target of $12.86.

Similarweb Stock Performance

The stock’s 50 day moving average price is $9.23 and its 200 day moving average price is $8.25.

Institutional Inflows and Outflows

Several institutional investors have recently made changes to their positions in the stock. Public Employees Retirement System of Ohio bought a new position in shares of Similarweb in the 3rd quarter valued at about $70,000. Quantbot Technologies LP bought a new position in shares of Similarweb during the 3rd quarter worth approximately $75,000. ANTIPODES PARTNERS Ltd increased its holdings in shares of Similarweb by 122.5% during the 2nd quarter. ANTIPODES PARTNERS Ltd now owns 11,580 shares of the company’s stock worth $90,000 after acquiring an additional 6,376 shares during the last quarter. State of New Jersey Common Pension Fund D bought a new stake in Similarweb in the 3rd quarter valued at $122,000. Finally, Barclays PLC lifted its holdings in Similarweb by 201.0% during the 3rd quarter. Barclays PLC now owns 15,414 shares of the company’s stock valued at $136,000 after purchasing an additional 10,293 shares during the last quarter. Institutional investors and hedge funds 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.