Similarweb (NYSE:SMWB) Hits New 12-Month High – What’s Next?

Similarweb Ltd. (NYSE:SMWB) hit a new 52-week high during trading on Tuesday . The company traded as high as $15.29 and last traded at $15.21, with a volume of 645677 shares. The stock had previously closed at $14.12.

Wall Street Analysts Forecast Growth

SMWB has been the subject of several recent research reports. William Blair reissued an “outperform” rating on shares of Similarweb in a research report on Thursday, December 19th. JMP Securities reissued a “market outperform” rating and issued a $17.00 price objective on shares of Similarweb in a research note on Wednesday, December 11th. Citigroup lifted their target price on shares of Similarweb from $10.00 to $14.00 and gave the stock a “buy” rating in a report on Thursday, November 14th. The Goldman Sachs Group began coverage on shares of Similarweb in a report on Wednesday, December 11th. They set a “buy” rating and a $16.00 price target for the company. Finally, Northland Securities upped their price target on Similarweb from $15.00 to $17.00 and gave the stock an “outperform” rating in a report on Tuesday, November 26th. Nine research analysts have rated the stock with a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat, the stock currently has an average rating of “Buy” and an average target price of $13.50.

Similarweb Price Performance

The company has a market cap of $1.22 billion, a P/E ratio of -137.55 and a beta of 0.97. The company’s 50-day moving average is $12.90 and its two-hundred day moving average is $9.83.

Institutional Inflows and Outflows

A number of large investors have recently made changes to their positions in the stock. Public Employees Retirement System of Ohio purchased a new stake in Similarweb in the 3rd quarter worth $70,000. Quantbot Technologies LP bought a new stake in Similarweb in the third quarter worth $75,000. International Assets Investment Management LLC purchased a new stake in Similarweb during the fourth quarter valued at $154,000. State of New Jersey Common Pension Fund D purchased a new stake in Similarweb during the third quarter valued at approximately $122,000. Finally, Barclays PLC boosted its stake in shares of Similarweb by 201.0% during the 3rd quarter. Barclays PLC now owns 15,414 shares of the company’s stock worth $136,000 after purchasing an additional 10,293 shares during the period. 57.59% of the stock is owned by hedge funds and other institutional investors.

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.