Similarweb Ltd. (NYSE:SMWB) Receives $12.86 Average Target Price from Brokerages

Similarweb Ltd. (NYSE:SMWB) has been given an average recommendation of “Buy” by the nine analysts that are currently covering the firm, Marketbeat reports. Eight investment analysts have rated the stock with a buy rating and one has issued a strong buy rating on the company. The average twelve-month price target among brokers that have issued a report on the stock in the last year is $12.86.

Several research analysts have commented on SMWB shares. Citigroup raised their price target on shares of Similarweb from $10.00 to $14.00 and gave the company a “buy” rating in a report on Thursday, November 14th. Northland Securities initiated 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. Northland Capmk upgraded Similarweb to a “strong-buy” rating in a research note on Tuesday, September 10th. William Blair reiterated an “outperform” rating on shares of Similarweb in a research report on Monday, September 9th. Finally, Cantor Fitzgerald restated an “overweight” rating and issued a $10.00 price objective on shares of Similarweb in a research report on Wednesday, August 7th.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently bought and sold shares of the business. Russell Investments Group Ltd. bought a new position in shares of Similarweb during the first quarter valued at about $2,820,000. Acadian Asset Management LLC grew its position in Similarweb by 3,663.6% during the 1st quarter. Acadian Asset Management LLC now owns 275,417 shares of the company’s stock worth $2,468,000 after acquiring an additional 268,099 shares during the last quarter. Inspire Investing LLC purchased a new position in Similarweb in the 3rd quarter worth approximately $886,000. Scalar Gauge Management LLC lifted its position in Similarweb by 56.8% in the second quarter. Scalar Gauge Management LLC now owns 593,923 shares of the company’s stock valued at $4,615,000 after purchasing an additional 215,221 shares during the last quarter. Finally, Cubist Systematic Strategies LLC boosted its stake in shares of Similarweb by 4.4% during the second quarter. Cubist Systematic Strategies LLC now owns 51,272 shares of the company’s stock valued at $398,000 after purchasing an additional 2,138 shares during the period. 57.59% of the stock is currently owned by institutional investors.

Similarweb Trading Up 2.2 %

Shares of Similarweb stock opened at $12.50 on Friday. The company’s 50-day moving average price is $9.29 and its 200-day moving average price is $8.28. The company has a market cap of $1.01 billion, a price-to-earnings ratio of -113.64 and a beta of 0.84. Similarweb has a 12-month low of $4.58 and a 12-month high of $12.72.

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.