Similarweb (NYSE:SMWB) Hits New 52-Week High – What’s Next?

Similarweb Ltd. (NYSE:SMWB)’s stock price hit a new 52-week high during trading on Friday . The stock traded as high as $9.97 and last traded at $9.90, with a volume of 45972 shares changing hands. The stock had previously closed at $9.58.

Wall Street Analyst Weigh In

Several brokerages have issued reports on SMWB. Northland Capmk upgraded Similarweb to a “strong-buy” rating in a research report on Tuesday, September 10th. Needham & Company LLC initiated coverage on Similarweb in a research note on Monday, October 21st. They issued a “buy” rating and a $11.00 target price on the stock. Barclays lifted their target price on Similarweb from $9.00 to $10.00 and gave the stock an “overweight” rating in a research report on Thursday, August 8th. Northland Securities assumed coverage on shares of Similarweb in a report on Tuesday, September 10th. They issued an “outperform” rating and a $15.00 price target on the stock. Finally, Cantor Fitzgerald reiterated an “overweight” rating and set a $10.00 price objective on shares of Similarweb in a report on Wednesday, August 7th. Eight research analysts have rated the stock with a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of “Buy” and a consensus target price of $11.71.

Similarweb Price Performance

The business’s fifty day moving average price is $8.86 and its two-hundred day moving average price is $8.01.

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

Institutional Trading of Similarweb

Several institutional investors and hedge funds have recently bought and sold shares of SMWB. Oppenheimer & Co. Inc. raised its holdings in Similarweb by 9.8% in the 3rd quarter. Oppenheimer & Co. Inc. now owns 106,607 shares of the company’s stock worth $942,000 after purchasing an additional 9,555 shares during the period. State of New Jersey Common Pension Fund D acquired a new position in shares of Similarweb during the 3rd quarter worth approximately $122,000. P.A.W. Capital Corp purchased a new position in shares of Similarweb during the 3rd quarter valued at approximately $3,536,000. Inspire Investing LLC acquired a new stake in Similarweb in the 3rd quarter valued at $886,000. Finally, Cubist Systematic Strategies LLC increased its holdings in Similarweb by 4.4% in the 2nd quarter. Cubist Systematic Strategies LLC now owns 51,272 shares of the company’s stock worth $398,000 after acquiring an additional 2,138 shares in the last quarter. 57.59% of the stock is currently owned by institutional investors and hedge funds.

Similarweb Company Profile

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.