Similarweb (NYSE:SMWB) Given New $20.00 Price Target at Northland Securities

Similarweb (NYSE:SMWB) had its target price boosted by investment analysts at Northland Securities from $17.00 to $20.00 in a report released on Friday,Benzinga reports. The brokerage currently has an “outperform” rating on the stock. Northland Securities’ price objective suggests a potential upside of 25.03% from the stock’s current price.

Other research analysts also recently issued research reports about the company. Needham & Company LLC reiterated a “buy” rating and set a $14.00 price target 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. JMP Securities restated a “market outperform” rating and set a $17.00 price target on shares of Similarweb in a research note on Wednesday, December 11th. The Goldman Sachs Group began coverage on shares of Similarweb in a research note on Wednesday, December 11th. They issued a “buy” rating and a $16.00 price objective for the company. Finally, Citigroup increased their target price on Similarweb from $10.00 to $14.00 and gave the stock a “buy” rating in a research report on Thursday, November 14th. Nine research analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has an average rating of “Buy” and an average price target of $13.88.

Similarweb Stock Performance

SMWB opened at $16.00 on Friday. Similarweb has a fifty-two week low of $5.71 and a fifty-two week high of $16.33. The firm has a 50-day moving average of $13.78 and a 200 day moving average of $10.25. The firm has a market cap of $1.29 billion, a P/E ratio of -145.42 and a beta of 0.97.

Similarweb (NYSE:SMWB) last released its earnings results on Tuesday, November 12th. The company reported ($0.03) earnings per share for the quarter, missing analysts’ consensus estimates of $0.04 by ($0.07). Similarweb had a negative net margin of 3.92% and a negative return on equity of 44.83%. The company had revenue of $64.71 million for the quarter, compared to the consensus estimate of $62.90 million. During the same period in the prior year, the company earned ($0.05) earnings per share. Equities research analysts predict that Similarweb will post -0.05 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Institutional investors have recently made changes to their positions in the company. Renaissance Technologies LLC boosted its stake in Similarweb by 4.3% during the second quarter. Renaissance Technologies LLC now owns 110,600 shares of the company’s stock valued at $859,000 after buying an additional 4,599 shares during the period. Cubist Systematic Strategies LLC boosted its position in shares of 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 last quarter. Inspire Investing LLC purchased a new position in shares of Similarweb during the third quarter worth about $886,000. P.A.W. Capital Corp bought a new position in shares of Similarweb in the third quarter worth approximately $3,536,000. Finally, State of New Jersey Common Pension Fund D purchased a new stake in Similarweb in the third quarter valued at approximately $122,000. Institutional investors own 57.59% of the company’s stock.

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.