Similarweb (NYSE:SMWB) Sets New 12-Month High – Should You Buy?

Similarweb Ltd. (NYSE:SMWB)’s stock price reached a new 52-week high on Wednesday . The company traded as high as $12.09 and last traded at $12.07, with a volume of 143734 shares. The stock had previously closed at $11.90.

Analyst Ratings Changes

Several equities analysts have recently commented on the company. Citigroup upped their price target on Similarweb from $10.00 to $14.00 and gave the company a “buy” rating in a research note on Thursday, November 14th. Northland Securities initiated coverage on shares of Similarweb in a research note on Tuesday, September 10th. They set an “outperform” rating and a $15.00 price target on the stock. Northland Capmk upgraded Similarweb to a “strong-buy” rating in a research report on Tuesday, September 10th. Barclays lifted their price objective on Similarweb from $9.00 to $10.00 and gave the stock an “overweight” rating in a report on Thursday, August 8th. Finally, Needham & Company LLC upped their target price on shares of Similarweb from $11.00 to $14.00 and gave the company a “buy” rating in a report on Thursday, November 14th. Eight equities research analysts have rated the stock with a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, Similarweb has a consensus rating of “Buy” and an average target price of $12.86.

Similarweb Price Performance

The company has a fifty day moving average price of $9.18 and a two-hundred day moving average price of $8.22. The company has a market capitalization of $986.40 million, a P/E ratio of -108.18 and a beta of 0.84.

Institutional Inflows and Outflows

Several large investors have recently bought and sold shares of the company. Public Employees Retirement System of Ohio purchased a new stake in shares of Similarweb during the 3rd quarter valued at about $70,000. Quantbot Technologies LP purchased a new position in shares of Similarweb during the third quarter valued at about $75,000. ANTIPODES PARTNERS Ltd lifted its position in Similarweb by 122.5% during the second quarter. ANTIPODES PARTNERS Ltd now owns 11,580 shares of the company’s stock valued at $90,000 after purchasing an additional 6,376 shares during the last quarter. State of New Jersey Common Pension Fund D bought a new stake in Similarweb during the third quarter worth approximately $122,000. Finally, Barclays PLC raised its holdings in Similarweb by 201.0% during the 3rd 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. 57.59% of the stock is owned by 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.