Similarweb (NYSE:SMWB) Given New $14.00 Price Target at Citigroup

Similarweb (NYSE:SMWB) had its price objective boosted by Citigroup from $10.00 to $14.00 in a research report released on Thursday morning,Benzinga reports. They currently have a buy rating on the stock.

Several other equities analysts have also commented on the company. William Blair reissued an “outperform” rating on shares of Similarweb in a research report on Monday, September 9th. Barclays lifted their price target on shares of Similarweb from $9.00 to $10.00 and gave the company an “overweight” rating in a research report on Thursday, August 8th. Northland Securities initiated coverage on shares of Similarweb in a report on Tuesday, September 10th. They issued an “outperform” rating and a $15.00 price objective on the stock. Cantor Fitzgerald reaffirmed an “overweight” rating and set a $10.00 target price on shares of Similarweb in a research note on Wednesday, August 7th. Finally, JMP Securities boosted their price target on Similarweb from $16.00 to $17.00 and gave the stock a “market outperform” rating in a research report on Thursday. 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 MarketBeat.com, the company currently has an average rating of “Buy” and an average price target of $12.86.

Similarweb Stock Performance

Shares of NYSE:SMWB opened at $11.51 on Thursday. The firm has a market capitalization of $931.39 million, a P/E ratio of -104.64 and a beta of 0.84. The stock has a 50 day moving average price of $9.07 and a 200-day moving average price of $8.16. Similarweb has a 52-week low of $4.58 and a 52-week high of $11.95.

Hedge Funds Weigh In On Similarweb

Several hedge funds and other institutional investors have recently added to or reduced their stakes in SMWB. Russell Investments Group Ltd. purchased a new position in shares of Similarweb in the first quarter worth $2,820,000. Acadian Asset Management LLC increased its holdings in Similarweb by 3,663.6% in the 1st quarter. Acadian Asset Management LLC now owns 275,417 shares of the company’s stock worth $2,468,000 after buying an additional 268,099 shares in the last quarter. Inspire Investing LLC purchased a new position in Similarweb in the 3rd quarter worth about $886,000. Scalar Gauge Management LLC raised its position in Similarweb by 56.8% in the 2nd quarter. Scalar Gauge Management LLC now owns 593,923 shares of the company’s stock worth $4,615,000 after buying an additional 215,221 shares during the last quarter. Finally, Cubist Systematic Strategies LLC lifted its stake in Similarweb by 4.4% during the 2nd quarter. Cubist Systematic Strategies LLC now owns 51,272 shares of the company’s stock valued at $398,000 after acquiring an additional 2,138 shares during the period. 57.59% of the stock is owned by institutional investors.

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.