Citigroup Issues Pessimistic Forecast for Similarweb (NYSE:SMWB) Stock Price

Similarweb (NYSE:SMWB) had its price target reduced by Citigroup from $13.00 to $11.00 in a research report issued to clients and investors on Friday,Benzinga reports. The firm presently has a “buy” rating on the stock. Citigroup’s target price points to a potential upside of 38.89% from the company’s previous close.

Several other research firms have also recently commented on SMWB. Barclays cut their target price on Similarweb from $15.00 to $10.00 and set an “overweight” rating on the stock in a research note on Thursday, May 15th. The Goldman Sachs Group reduced their target price on shares of Similarweb from $13.00 to $10.00 and set a “buy” rating for the company in a report on Thursday, April 17th. Nine investment analysts have rated the stock with a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, the stock presently has a consensus rating of “Buy” and an average price target of $14.38.

Similarweb Stock Down 5.3%

Shares of NYSE:SMWB opened at $7.92 on Friday. The firm has a market cap of $672.17 million, a price-to-earnings ratio of -36.00 and a beta of 1.11. Similarweb has a 12 month low of $5.71 and a 12 month high of $17.64. The company’s fifty day simple moving average is $8.12 and its 200 day simple moving average is $9.30.

Similarweb (NYSE:SMWB) last released its quarterly earnings results on Tuesday, May 13th. The company reported ($0.11) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.02) by ($0.09). The firm had revenue of $67.09 million during the quarter, compared to analyst estimates of $66.37 million. Similarweb had a negative net margin of 6.97% and a negative return on equity of 71.14%. Research analysts expect that Similarweb will post -0.24 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Similarweb

Several hedge funds and other institutional investors have recently made changes to their positions in the company. KLP Kapitalforvaltning AS bought a new position in shares of Similarweb in the 4th quarter valued at about $115,000. Heck Capital Advisors LLC acquired a new stake in Similarweb in the 4th quarter valued at about $115,000. Fullcircle Wealth LLC bought a new position in Similarweb during the first quarter worth about $117,000. MQS Management LLC acquired a new position in Similarweb during the second quarter worth approximately $125,000. Finally, Public Employees Retirement System of Ohio raised its stake in Similarweb by 25.3% in the fourth quarter. Public Employees Retirement System of Ohio now owns 9,900 shares of the company’s stock valued at $140,000 after buying an additional 2,000 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.