Similarweb Ltd. (NYSE:SMWB) Receives Average Rating of “Buy” from Brokerages

Shares of Similarweb Ltd. (NYSE:SMWB) have been given an average rating of “Buy” by the six analysts that are currently covering the stock, MarketBeat reports. Six analysts have rated the stock with a buy recommendation. The average twelve-month target price among analysts that have issued ratings on the stock in the last year is $10.60.

SMWB has been the subject of several research reports. William Blair reaffirmed an “outperform” rating on shares of Similarweb in a research report on Tuesday, March 5th. Barclays boosted their price objective on Similarweb from $8.00 to $9.00 and gave the stock an “overweight” rating in a research report on Thursday, February 15th. JMP Securities reissued a “market outperform” rating and set a $14.00 price objective on shares of Similarweb in a research report on Friday, March 15th. Jefferies Financial Group reissued a “buy” rating and set a $10.00 price objective on shares of Similarweb in a research report on Wednesday, February 7th. Finally, Citigroup raised Similarweb from a “neutral” rating to a “buy” rating and boosted their price objective for the stock from $6.00 to $10.00 in a research report on Thursday, February 15th.

Institutional Investors Weigh In On Similarweb

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Y.D. More Investments Ltd purchased a new stake in Similarweb in the third quarter valued at approximately $8,960,000. Pathstone Family Office LLC purchased a new stake in Similarweb in the third quarter valued at approximately $227,000. Swiss National Bank purchased a new stake in Similarweb in the third quarter valued at approximately $391,000. Barclays PLC lifted its stake in Similarweb by 737.4% in the third quarter. Barclays PLC now owns 4,966 shares of the company’s stock valued at $32,000 after buying an additional 4,373 shares during the last quarter. Finally, ARK Investment Management LLC lifted its stake in Similarweb by 9.8% in the fourth quarter. ARK Investment Management LLC now owns 340,739 shares of the company’s stock valued at $1,816,000 after buying an additional 30,543 shares during the last quarter. Hedge funds and other institutional investors own 57.59% of the company’s stock.

Similarweb Trading Down 4.3 %

Shares of SMWB opened at $7.96 on Friday. The firm has a market cap of $626.05 million, a P/E ratio of -21.51 and a beta of 0.68. Similarweb has a 12-month low of $4.58 and a 12-month high of $9.76. The company’s 50-day moving average price is $8.35 and its 200 day moving average price is $6.42.

Similarweb (NYSE:SMWB) last issued its quarterly earnings data on Tuesday, February 13th. The company reported ($0.04) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.05) by $0.01. The firm had revenue of $56.76 million for the quarter, compared to analyst estimates of $55.90 million. Similarweb had a negative net margin of 13.47% and a negative return on equity of 203.38%. Equities research analysts forecast that Similarweb will post -0.2 earnings per share for the current year.

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.