Similarweb (NYSE:SMWB) Now Covered by Analysts at The Goldman Sachs Group

The Goldman Sachs Group initiated coverage on shares of Similarweb (NYSE:SMWB) in a report released on Wednesday morning, MarketBeat reports. The brokerage issued a buy rating and a $16.00 price objective on the stock.

Several other equities analysts also recently weighed in on the company. Northland Capmk raised Similarweb to a “strong-buy” rating in a research report on Tuesday, September 10th. Citigroup lifted their price objective on shares of Similarweb from $10.00 to $14.00 and gave the company a “buy” rating in a report on Thursday, November 14th. Needham & Company LLC reaffirmed a “buy” rating and set a $14.00 target price on shares of Similarweb in a research report on Wednesday. JMP Securities boosted their price target on Similarweb from $16.00 to $17.00 and gave the company a “market outperform” rating in a report on Thursday, November 14th. Finally, Northland Securities raised their price objective on Similarweb from $15.00 to $17.00 and gave the stock an “outperform” rating in a report on Tuesday, November 26th. Nine analysts have rated the stock with a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat, Similarweb has a consensus rating of “Buy” and an average price target of $13.50.

Similarweb Trading Up 9.8 %

SMWB opened at $13.37 on Wednesday. Similarweb has a 12 month low of $4.91 and a 12 month high of $13.41. The stock has a 50-day moving average of $10.43 and a 200 day moving average of $8.77. The firm has a market cap of $1.08 billion, a P/E ratio of -121.55 and a beta of 1.03.

Hedge Funds Weigh In On Similarweb

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Barclays PLC increased its position in shares of Similarweb by 201.0% during the third quarter. Barclays PLC now owns 15,414 shares of the company’s stock worth $136,000 after purchasing an additional 10,293 shares in the last quarter. Public Employees Retirement System of Ohio purchased a new stake in shares of Similarweb during the third quarter worth about $70,000. XTX Topco Ltd increased its holdings in shares of Similarweb by 9.0% during the third quarter. XTX Topco Ltd now owns 53,980 shares of the company’s stock valued at $477,000 after acquiring an additional 4,453 shares in the last quarter. State Street Corp raised its position in shares of Similarweb by 32.5% in the 3rd 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 during the last quarter. Finally, Centiva Capital LP acquired a new stake in Similarweb in the 3rd quarter worth approximately $212,000. Hedge funds and other 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.