Similarweb (NYSE:SMWB) Reaches New 52-Week High After Analyst Upgrade

Shares of Similarweb Ltd. (NYSE:SMWB) reached a new 52-week high on Tuesday after Citigroup raised their price target on the stock from $14.00 to $22.00. Citigroup currently has a buy rating on the stock. Similarweb traded as high as $17.64 and last traded at $17.05, with a volume of 529197 shares traded. The stock had previously closed at $17.08.

SMWB has been the topic of a number of other research reports. Needham & Company LLC reiterated a “buy” rating and issued a $14.00 target price on shares of Similarweb in a research note on Thursday, January 16th. William Blair reiterated an “outperform” rating on shares of Similarweb in a research note on Thursday, December 19th. Jefferies Financial Group increased their target price on Similarweb from $13.00 to $23.00 and gave the stock a “buy” rating in a research note on Monday, February 3rd. JMP Securities reissued a “market outperform” rating and set a $17.00 price target on shares of Similarweb in a research report on Wednesday, December 11th. Finally, Northland Securities increased their price target on Similarweb from $17.00 to $20.00 and gave the stock an “outperform” rating in a research report on Friday, January 24th. Nine equities 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 has an average rating of “Buy” and an average target price of $16.50.

Institutional Investors Weigh In On Similarweb

Institutional investors have recently added to or reduced their stakes in the stock. Connor Clark & Lunn Investment Management Ltd. boosted 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 purchasing an additional 238,428 shares in the last quarter. State Street Corp boosted its position in Similarweb by 32.5% during the third quarter. State Street Corp now owns 187,919 shares of the company’s stock valued at $1,661,000 after purchasing an additional 46,102 shares in the last quarter. Y.D. More Investments Ltd boosted its position in Similarweb by 6.3% during the fourth quarter. Y.D. More Investments Ltd now owns 1,449,634 shares of the company’s stock valued at $20,541,000 after purchasing an additional 86,500 shares in the last quarter. JPMorgan Chase & Co. boosted its position in Similarweb by 147.4% during the third quarter. JPMorgan Chase & Co. now owns 171,539 shares of the company’s stock valued at $1,516,000 after purchasing an additional 102,192 shares in the last quarter. Finally, Jennison Associates LLC purchased a new stake in Similarweb in the fourth quarter valued at about $26,059,000. Institutional investors own 57.59% of the company’s stock.

Similarweb Stock Down 29.2 %

The business has a 50 day simple moving average of $14.92 and a 200 day simple moving average of $11.21. The company has a market capitalization of $961.33 million, a PE ratio of -108.00 and a beta of 0.99.

Similarweb (NYSE:SMWB) last released its quarterly earnings results on Tuesday, February 11th. The company reported ($0.07) EPS for the quarter, missing analysts’ consensus estimates of $0.03 by ($0.10). Similarweb had a negative net margin of 3.92% and a negative return on equity of 44.83%. Equities analysts expect that Similarweb Ltd. will post -0.05 EPS for the current fiscal year.

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.