Similarweb (NYSE:SMWB) Price Target Raised to $17.00

Similarweb (NYSE:SMWB) had its price target increased by JMP Securities from $16.00 to $17.00 in a research report sent to investors on Thursday,Benzinga reports. JMP Securities currently has a market outperform rating on the stock.

A number of other analysts also recently issued reports on SMWB. Northland Capmk upgraded shares of Similarweb to a “strong-buy” rating in a report on Tuesday, September 10th. Barclays lifted their target price on Similarweb from $9.00 to $10.00 and gave the stock an “overweight” rating in a report on Thursday, August 8th. Needham & Company LLC increased their price target on Similarweb from $11.00 to $14.00 and gave the company a “buy” rating in a research note on Thursday. William Blair reaffirmed an “outperform” rating on shares of Similarweb in a research note on Monday, September 9th. Finally, Northland Securities started coverage on Similarweb in a research report on Tuesday, September 10th. They set an “outperform” rating and a $15.00 target price for the company. Eight equities research analysts have rated the stock with a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of “Buy” and an average target price of $12.86.

Similarweb Stock Down 2.9 %

Shares of SMWB opened at $11.51 on Thursday. Similarweb has a 1 year low of $4.58 and a 1 year high of $11.95. The company has a 50 day simple moving average of $9.07 and a two-hundred day simple moving average of $8.15.

Hedge Funds Weigh In On Similarweb

Several large investors have recently modified their holdings of the stock. P.A.W. Capital Corp purchased a new position in Similarweb during the third quarter worth $3,536,000. Russell Investments Group Ltd. purchased a new position in shares of Similarweb during the 1st quarter worth about $2,820,000. Roubaix Capital LLC bought a new position in Similarweb during the 1st quarter valued at about $2,449,000. Scalar Gauge Management LLC raised its position in Similarweb by 45.5% in the 3rd quarter. Scalar Gauge Management LLC now owns 863,923 shares of the company’s stock worth $7,637,000 after purchasing an additional 270,000 shares during the period. Finally, Acadian Asset Management LLC lifted its stake in Similarweb by 3,663.6% in the first quarter. Acadian Asset Management LLC now owns 275,417 shares of the company’s stock worth $2,468,000 after purchasing an additional 268,099 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.