Citigroup Lowers Similarweb (NYSE:SMWB) Price Target to $8.50

Similarweb (NYSE:SMWB) had its target price lowered by equities researchers at Citigroup from $11.00 to $8.50 in a report issued on Friday,Benzinga reports. The brokerage presently has a “buy” rating on the stock. Citigroup’s price objective would indicate a potential upside of 204.11% from the company’s current price.

A number of other equities research analysts have also recently commented on SMWB. Jefferies Financial Group reiterated a “buy” rating and set a $11.00 target price on shares of Similarweb in a report on Friday, November 14th. Needham & Company LLC lowered Similarweb from a “buy” rating to a “hold” rating in a research note on Wednesday. Weiss Ratings reiterated a “sell (d-)” rating on shares of Similarweb in a research report on Monday, December 29th. Citizens Jmp lowered shares of Similarweb from an “outperform” rating to a “market perform” rating in a report on Wednesday. Finally, William Blair cut shares of Similarweb from an “outperform” rating to a “market perform” rating in a research note on Wednesday. Four investment analysts have rated the stock with a Buy rating, six have issued a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat.com, the company has a consensus rating of “Hold” and an average target price of $8.14.

Similarweb Stock Up 8.8%

Similarweb stock opened at $2.80 on Friday. The firm has a market capitalization of $237.20 million, a PE ratio of -7.17 and a beta of 1.09. Similarweb has a 52 week low of $2.22 and a 52 week high of $10.75. The firm’s 50-day simple moving average is $5.86 and its 200 day simple moving average is $7.70.

Similarweb (NYSE:SMWB) last announced its earnings results on Tuesday, February 17th. The company reported $0.03 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.01 by $0.02. Similarweb had a negative net margin of 11.65% and a negative return on equity of 70.38%. The company had revenue of $72.76 million during the quarter, compared to analysts’ expectations of $76.45 million. On average, research analysts expect that Similarweb will post -0.24 EPS for the current fiscal year.

Institutional Investors Weigh In On Similarweb

A number of institutional investors have recently bought and sold shares of the stock. ANTIPODES PARTNERS Ltd increased its position in shares of Similarweb by 8.3% in the second quarter. ANTIPODES PARTNERS Ltd now owns 17,510 shares of the company’s stock worth $137,000 after acquiring an additional 1,344 shares in the last quarter. Larson Financial Group LLC purchased a new stake in Similarweb during the 3rd quarter worth $25,000. New York State Common Retirement Fund increased its holdings in Similarweb by 0.4% in the 4th quarter. New York State Common Retirement Fund now owns 852,915 shares of the company’s stock valued at $6,388,000 after purchasing an additional 3,170 shares in the last quarter. PDT Partners LLC increased its holdings in Similarweb by 3.9% in the 2nd quarter. PDT Partners LLC now owns 98,388 shares of the company’s stock valued at $771,000 after purchasing an additional 3,717 shares in the last quarter. Finally, Lazard Asset Management LLC raised its position 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 purchasing an additional 4,777 shares during the period. 57.59% of the stock is currently owned by hedge funds and other institutional investors.

About Similarweb

Similarweb Ltd. (NYSE: SMWB) is a digital intelligence company that provides insights into website and mobile app performance. Its cloud-based platform aggregates and analyzes data on global web traffic, user engagement, and referral sources, enabling businesses to benchmark their digital presence against competitors. The company’s core offering includes metrics on audience behavior, traffic acquisition channels, and industry trends, which are designed to inform strategic decisions in marketing, sales, and product development.

Similarweb’s platform delivers a suite of tools for market research, competitor analysis, and performance optimization.