Similarweb Ltd. (NYSE:SMWB) Receives $11.83 Consensus Target Price from Brokerages

Similarweb Ltd. (NYSE:SMWB) has been given a consensus recommendation of “Buy” by the eight research firms that are currently covering the firm, Marketbeat.com reports. Seven equities research analysts have rated the stock with a buy recommendation and one has given a strong buy recommendation to the company. The average 1 year target price among analysts that have covered the stock in the last year is $11.83.

A number of equities analysts have recently issued reports on SMWB shares. Cantor Fitzgerald reaffirmed an “overweight” rating and set a $10.00 price target on shares of Similarweb in a research report on Wednesday, August 7th. Northland Securities began coverage on Similarweb in a research note on Tuesday, September 10th. They issued an “outperform” rating and a $15.00 price target for the company. Northland Capmk raised Similarweb to a “strong-buy” rating in a report on Tuesday, September 10th. JMP Securities upped their price objective on shares of Similarweb from $14.00 to $16.00 and gave the company a “market outperform” rating in a report on Wednesday, August 21st. Finally, Barclays lifted their target price on shares of Similarweb from $9.00 to $10.00 and gave the stock an “overweight” rating in a research note on Thursday, August 8th.

Hedge Funds Weigh In On Similarweb

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

Similarweb Trading Up 0.5 %

Shares of NYSE:SMWB opened at $8.84 on Thursday. The company has a market capitalization of $695.27 million, a PE ratio of -35.36 and a beta of 0.85. Similarweb has a 12-month low of $4.58 and a 12-month high of $9.76. The business’s fifty day simple moving average is $8.20 and its 200-day simple moving average is $7.95.

Similarweb (NYSE:SMWB) last posted its earnings results on Tuesday, August 6th. The company reported ($0.01) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.05) by $0.04. The company had revenue of $60.64 million for the quarter, compared to analyst estimates of $60.23 million. Similarweb had a negative return on equity of 60.53% and a negative net margin of 5.07%. Research analysts predict that Similarweb will post -0.04 EPS for the current year.

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.