Similarweb Ltd. (NYSE:SMWB) Receives Consensus Recommendation of “Buy” from Analysts

Shares of Similarweb Ltd. (NYSE:SMWB) have been given a consensus rating of “Buy” by the six research firms that are covering the stock, MarketBeat reports. Six research analysts have rated the stock with a buy rating. The average 1-year price target among analysts that have issued ratings on the stock in the last year is $10.60.

Several analysts have recently issued reports on SMWB shares. Citigroup raised shares of Similarweb from a “neutral” rating to a “buy” rating and boosted their price target for the company from $6.00 to $10.00 in a research report on Thursday, February 15th. Barclays increased their target price on Similarweb from $8.00 to $9.00 and gave the stock an “overweight” rating in a research report on Thursday, February 15th. Jefferies Financial Group reiterated a “buy” rating and issued a $10.00 price target on shares of Similarweb in a research report on Wednesday, February 7th. JMP Securities reissued a “market outperform” rating and set a $14.00 price objective on shares of Similarweb in a report on Friday, March 15th. Finally, William Blair reaffirmed an “outperform” rating on shares of Similarweb in a report on Tuesday, March 5th.

Similarweb Trading Up 0.3 %

NYSE:SMWB opened at $7.50 on Tuesday. The firm’s 50 day moving average is $8.45 and its 200 day moving average is $6.64. Similarweb has a 12 month low of $4.58 and a 12 month high of $9.76. The stock has a market capitalization of $589.88 million, a PE ratio of -20.27 and a beta of 0.75.

Similarweb (NYSE:SMWB) last issued its quarterly earnings results on Tuesday, February 13th. The company reported ($0.04) EPS for the quarter, beating analysts’ consensus estimates of ($0.05) by $0.01. Similarweb had a negative return on equity of 203.38% and a negative net margin of 13.47%. The firm had revenue of $56.76 million for the quarter, compared to analysts’ expectations of $55.90 million. Research analysts predict that Similarweb will post -0.2 earnings per share for the current year.

Institutional Trading of Similarweb

Institutional investors and hedge funds have recently modified their holdings of the business. Y.D. More Investments Ltd bought a new position in shares of Similarweb in the third quarter worth approximately $8,960,000. ARK Investment Management LLC grew its stake in Similarweb by 9.8% in the 4th quarter. ARK Investment Management LLC now owns 340,739 shares of the company’s stock worth $1,816,000 after buying an additional 30,543 shares in the last quarter. Essex Investment Management Co. LLC purchased a new stake in shares of Similarweb during the 1st quarter valued at $2,344,000. Scalar Gauge Management LLC bought a new stake in shares of Similarweb during the 4th quarter worth $1,188,000. Finally, Circumference Group LLC purchased a new position in Similarweb in the fourth quarter worth $725,000. 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.