Similarweb (NYSE:SMWB) Price Target Raised to $17.00

Similarweb (NYSE:SMWB) had its price objective hoisted by Northland Securities from $15.00 to $17.00 in a research report released on Tuesday morning,Benzinga reports. Northland Securities currently has an outperform rating on the stock.

SMWB has been the subject of several other reports. Barclays increased their price objective on shares of Similarweb from $9.00 to $10.00 and gave the stock an “overweight” rating in a research report on Thursday, August 8th. JMP Securities raised their price target on shares of Similarweb from $16.00 to $17.00 and gave the stock a “market outperform” rating in a research report on Thursday, November 14th. Northland Capmk raised Similarweb to a “strong-buy” rating in a report on Tuesday, September 10th. Cantor Fitzgerald reissued an “overweight” rating and set a $10.00 target price on shares of Similarweb in a report on Wednesday, August 7th. Finally, Needham & Company LLC boosted their price objective on Similarweb from $11.00 to $14.00 and gave the company a “buy” rating in a research report on Thursday, November 14th. Eight equities research analysts have rated the stock with a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat.com, the stock currently has a consensus rating of “Buy” and an average target price of $13.14.

Similarweb Stock Performance

Similarweb stock opened at $12.57 on Tuesday. Similarweb has a 1 year low of $4.58 and a 1 year high of $12.99. The firm has a 50 day moving average price of $9.63 and a 200 day moving average price of $8.43. The company has a market cap of $1.02 billion, a price-to-earnings ratio of -114.27 and a beta of 0.84.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in SMWB. Quadrature Capital Ltd acquired a new stake in Similarweb during the first quarter valued at approximately $311,000. California State Teachers Retirement System raised its stake in shares of Similarweb by 10.1% during the 1st quarter. California State Teachers Retirement System now owns 26,892 shares of the company’s stock worth $242,000 after purchasing an additional 2,475 shares in the last quarter. Legato Capital Management LLC raised its position in Similarweb by 4.5% during the second quarter. Legato Capital Management LLC now owns 102,987 shares of the company’s stock valued at $800,000 after acquiring an additional 4,455 shares in the last quarter. ANTIPODES PARTNERS Ltd raised its holdings in shares of Similarweb by 122.5% during the 2nd 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 in the last quarter. Finally, Ceera Investments LLC lifted its holdings in Similarweb by 38.3% in the 2nd quarter. Ceera Investments LLC now owns 259,827 shares of the company’s stock worth $2,019,000 after purchasing an additional 71,994 shares during the last quarter. 57.59% of the stock is currently 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.