Similarweb (NYSE:SMWB) Stock Price Expected to Rise, Northland Securities Analyst Says

Similarweb (NYSE:SMWB) had its price target boosted by Northland Securities from $15.00 to $17.00 in a report published on Tuesday morning,Benzinga reports. They currently have an outperform rating on the stock.

Other equities analysts have also recently issued reports about the company. JMP Securities lifted their price target on Similarweb from $16.00 to $17.00 and gave the company a “market outperform” rating in a research report on Thursday, November 14th. Barclays lifted their target price on Similarweb from $9.00 to $10.00 and gave the company an “overweight” rating in a report on Thursday, August 8th. Citigroup increased their price target on shares of Similarweb from $10.00 to $14.00 and gave the stock a “buy” rating in a report on Thursday, November 14th. Needham & Company LLC raised their price objective on shares of Similarweb from $11.00 to $14.00 and gave the company a “buy” rating in a research report on Thursday, November 14th. Finally, Northland Capmk raised shares of Similarweb to a “strong-buy” rating in a report on Tuesday, September 10th. Eight research analysts have rated the stock with a buy rating and one has given a strong buy rating to the company. According to MarketBeat, the stock currently has an average rating of “Buy” and a consensus target price of $13.14.

Similarweb Trading Down 1.2 %

Similarweb stock opened at $12.42 on Tuesday. The firm has a 50 day simple moving average of $9.71 and a 200 day simple moving average of $8.46. Similarweb has a 1-year low of $4.58 and a 1-year high of $12.99. The firm has a market capitalization of $1.01 billion, a price-to-earnings ratio of -112.82 and a beta of 0.84.

Hedge Funds Weigh In On Similarweb

A number of institutional investors have recently made changes to their positions in the stock. P.A.W. Capital Corp bought a new position in shares of Similarweb during the 3rd quarter valued at about $3,536,000. Scalar Gauge Management LLC boosted its stake in Similarweb by 45.5% in the third quarter. Scalar Gauge Management LLC now owns 863,923 shares of the company’s stock worth $7,637,000 after buying an additional 270,000 shares in the last quarter. Connor Clark & Lunn Investment Management Ltd. grew its position in Similarweb by 112.7% during the third quarter. Connor Clark & Lunn Investment Management Ltd. now owns 449,896 shares of the company’s stock valued at $3,977,000 after acquiring an additional 238,428 shares during the last quarter. Walleye Capital LLC raised its stake in shares of Similarweb by 115.9% during the third quarter. Walleye Capital LLC now owns 354,653 shares of the company’s stock worth $3,135,000 after acquiring an additional 190,380 shares in the last quarter. Finally, Acadian Asset Management LLC lifted its holdings in shares of Similarweb by 60.8% in the 2nd quarter. Acadian Asset Management LLC now owns 442,917 shares of the company’s stock worth $3,427,000 after acquiring an additional 167,500 shares during the last quarter. 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.