Similarweb (NYSE:SMWB) Given New $14.00 Price Target at Needham & Company LLC

Similarweb (NYSE:SMWB) had its target price lifted by Needham & Company LLC from $11.00 to $14.00 in a report issued on Thursday morning,Benzinga reports. The brokerage currently has a buy rating on the stock.

Other analysts have also issued research reports about the company. Cantor Fitzgerald restated an “overweight” rating and issued a $10.00 price objective on shares of Similarweb in a research note on Wednesday, August 7th. Northland Securities started coverage on shares of Similarweb in a report on Tuesday, September 10th. They issued an “outperform” rating and a $15.00 price objective on the stock. William Blair restated an “outperform” rating on shares of Similarweb in a research note on Monday, September 9th. Barclays lifted their target price on shares of Similarweb from $9.00 to $10.00 and gave the stock an “overweight” rating in a report on Thursday, August 8th. Finally, JMP Securities upped their target price on Similarweb from $14.00 to $16.00 and gave the company a “market outperform” rating in a research report on Wednesday, August 21st. Eight research analysts have rated the stock with a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of “Buy” and a consensus target price of $12.86.

Similarweb Stock Performance

SMWB traded down $0.33 during trading on Thursday, reaching $11.52. 409,916 shares of the stock were exchanged, compared to its average volume of 201,042. The stock’s 50 day moving average price is $9.02 and its two-hundred day moving average price is $8.12. Similarweb has a twelve month low of $4.58 and a twelve month high of $11.95. The stock has a market cap of $932.19 million, a P/E ratio of -105.09 and a beta of 0.84.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently bought and sold shares of the stock. P.A.W. Capital Corp bought a new position in Similarweb in the 3rd quarter valued at approximately $3,536,000. Russell Investments Group Ltd. purchased a new position in shares of Similarweb during the first quarter valued at approximately $2,820,000. Roubaix Capital LLC bought a new stake in Similarweb during the first quarter worth $2,449,000. Scalar Gauge Management LLC raised its position in Similarweb by 45.5% in the 3rd quarter. Scalar Gauge Management LLC now owns 863,923 shares of the company’s stock valued at $7,637,000 after buying an additional 270,000 shares during the last quarter. Finally, Acadian Asset Management LLC lifted its stake in Similarweb by 3,663.6% during the 1st quarter. Acadian Asset Management LLC now owns 275,417 shares of the company’s stock valued at $2,468,000 after acquiring an additional 268,099 shares in the last quarter. Institutional investors and hedge funds own 57.59% of the company’s stock.

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.