Similarweb Ltd. (NYSE:SMWB) Given Average Recommendation of “Moderate Buy” by Brokerages

Shares of Similarweb Ltd. (NYSE:SMWB) have been given a consensus rating of “Moderate Buy” by the eleven research firms that are currently covering the stock, Marketbeat Ratings reports. One research analyst has rated the stock with a sell rating, one has assigned a hold rating and nine have issued a buy rating on the company. The average twelve-month price target among brokers that have issued a report on the stock in the last year is $13.3750.

A number of research analysts recently commented on SMWB shares. Weiss Ratings restated a “sell (d-)” rating on shares of Similarweb in a research note on Monday, November 17th. Zacks Research upgraded shares of Similarweb from a “strong sell” rating to a “hold” rating in a research note on Thursday, August 14th. Citigroup reaffirmed a “market outperform” rating on shares of Similarweb in a report on Tuesday, October 28th. Oppenheimer upped their target price on shares of Similarweb from $13.00 to $14.00 and gave the company an “outperform” rating in a research note on Monday, August 18th. Finally, Needham & Company LLC reissued a “buy” rating and issued a $14.00 price target on shares of Similarweb in a research report on Monday, November 17th.

Similarweb Stock Performance

Shares of SMWB opened at $7.68 on Tuesday. The company has a 50-day simple moving average of $8.72 and a 200-day simple moving average of $8.48. Similarweb has a 52 week low of $6.36 and a 52 week high of $17.64. The firm has a market capitalization of $651.80 million, a P/E ratio of -20.76 and a beta of 1.09.

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

Hedge Funds Weigh In On Similarweb

A number of hedge funds have recently modified their holdings of SMWB. Nuveen LLC bought a new stake in Similarweb in the first quarter valued at $5,979,000. Herald Investment Management Ltd bought a new position in shares of Similarweb during the first quarter valued at $2,478,000. T. Rowe Price Investment Management Inc. boosted its stake in shares of Similarweb by 109.1% in the 1st quarter. T. Rowe Price Investment Management Inc. now owns 1,410,826 shares of the company’s stock valued at $11,668,000 after purchasing an additional 736,004 shares in the last quarter. Migdal Insurance & Financial Holdings Ltd. grew its holdings in shares of Similarweb by 8.8% in the 2nd quarter. Migdal Insurance & Financial Holdings Ltd. now owns 3,006,157 shares of the company’s stock worth $23,568,000 after purchasing an additional 243,600 shares during the last quarter. Finally, First Eagle Investment Management LLC bought a new stake in shares of Similarweb in the 2nd quarter worth about $1,329,000. 57.59% of the stock is owned by institutional investors and hedge funds.

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.