Similarweb (NYSE:SMWB) Sets New 1-Year High – Should You Buy?

Similarweb Ltd. (NYSE:SMWB) shares hit a new 52-week high during trading on Wednesday . The stock traded as high as $14.11 and last traded at $14.04, with a volume of 136530 shares traded. The stock had previously closed at $13.48.

Analyst Ratings Changes

SMWB has been the subject of a number of recent analyst reports. The Goldman Sachs Group assumed coverage on Similarweb in a report on Wednesday, December 11th. They set a “buy” rating and a $16.00 price target for the company. Needham & Company LLC restated a “buy” rating and issued a $14.00 target price on shares of Similarweb in a research note on Wednesday, December 11th. William Blair reiterated an “outperform” rating on shares of Similarweb in a research report on Thursday. Northland Securities raised their price objective on shares of Similarweb from $15.00 to $17.00 and gave the company an “outperform” rating in a research report on Tuesday, November 26th. Finally, JMP Securities reaffirmed a “market outperform” rating and issued a $17.00 target price on shares of Similarweb in a research note on Wednesday, December 11th. Nine analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, the stock has an average rating of “Buy” and a consensus price target of $13.50.

Similarweb Price Performance

The stock’s 50 day moving average is $11.00 and its two-hundred day moving average is $8.99. The firm has a market capitalization of $1.14 billion, a P/E ratio of -127.91 and a beta of 1.03.

Hedge Funds Weigh In On Similarweb

Several hedge funds have recently added to or reduced their stakes in the stock. Public Employees Retirement System of Ohio acquired a new stake in shares of Similarweb in the 3rd quarter valued at approximately $70,000. Quantbot Technologies LP bought a new position in Similarweb during the third quarter worth about $75,000. ANTIPODES PARTNERS Ltd increased its position in Similarweb by 122.5% during the second quarter. ANTIPODES PARTNERS Ltd now owns 11,580 shares of the company’s stock worth $90,000 after buying an additional 6,376 shares during the last quarter. State of New Jersey Common Pension Fund D bought a new stake in Similarweb in the third quarter valued at approximately $122,000. Finally, Barclays PLC raised its stake in Similarweb by 201.0% in the third quarter. Barclays PLC now owns 15,414 shares of the company’s stock valued at $136,000 after buying an additional 10,293 shares during the period. Institutional investors and hedge funds 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.