Similarweb (NYSE:SMWB) Earns “Buy” Rating from Needham & Company LLC

Similarweb (NYSE:SMWB)‘s stock had its “buy” rating reiterated by equities researchers at Needham & Company LLC in a research note issued on Monday,Benzinga reports. They presently have a $14.00 price objective on the stock. Needham & Company LLC’s price objective would indicate a potential upside of 96.41% from the stock’s current price.

SMWB has been the topic of a number of other reports. Weiss Ratings restated a “sell (e+)” rating on shares of Similarweb in a report on Wednesday, October 8th. Jefferies Financial Group reiterated a “buy” rating and set a $11.00 target price on shares of Similarweb in a report on Friday. Zacks Research raised Similarweb from a “strong sell” rating to a “hold” rating in a research note on Thursday, August 14th. Oppenheimer upped their price objective on Similarweb from $13.00 to $14.00 and gave the stock an “outperform” rating in a research report on Monday, August 18th. Finally, Citigroup reiterated a “market outperform” rating on shares of Similarweb in a report on Tuesday, October 28th. Nine investment analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat, Similarweb currently has an average rating of “Moderate Buy” and a consensus price target of $13.38.

Similarweb Price Performance

NYSE:SMWB opened at $7.13 on Monday. The business’s 50-day simple moving average is $8.92 and its 200-day simple moving average is $8.48. Similarweb has a fifty-two week low of $6.36 and a fifty-two week high of $17.64. The stock has a market capitalization of $604.93 million, a PE ratio of -19.26 and a beta of 1.09.

Similarweb (NYSE:SMWB) last announced its earnings results on Tuesday, November 11th. The company reported $0.05 EPS for the quarter, topping the consensus estimate of $0.02 by $0.03. Similarweb had a negative net margin of 11.20% and a negative return on equity of 78.25%. The firm had revenue of $71.79 million for the quarter, compared to the consensus estimate of $71.95 million. Similarweb has set its FY 2025 guidance at EPS. On average, research analysts expect that Similarweb will post -0.24 earnings per share for the current year.

Institutional Inflows and Outflows

A number of institutional investors have recently made changes to their positions in SMWB. ANTIPODES PARTNERS Ltd lifted its position in Similarweb by 8.3% during the second quarter. ANTIPODES PARTNERS Ltd now owns 17,510 shares of the company’s stock worth $137,000 after purchasing an additional 1,344 shares during the period. Larson Financial Group LLC acquired a new position in shares of Similarweb in the 3rd quarter valued at approximately $25,000. Zurcher Kantonalbank Zurich Cantonalbank lifted its holdings in shares of Similarweb by 15.5% during the 1st quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 21,032 shares of the company’s stock worth $174,000 after acquiring an additional 2,825 shares during the period. PDT Partners LLC boosted its position in shares of Similarweb by 3.9% during the 2nd quarter. PDT Partners LLC now owns 98,388 shares of the company’s stock worth $771,000 after acquiring an additional 3,717 shares in the last quarter. Finally, Lazard Asset Management LLC increased its stake in Similarweb by 31.9% in the third quarter. Lazard Asset Management LLC now owns 19,761 shares of the company’s stock valued at $184,000 after acquiring an additional 4,777 shares during the last quarter. 57.59% of the stock is owned by institutional investors and hedge funds.

About Similarweb

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.