Similarweb (NYSE:SMWB) Given New $22.00 Price Target at Citigroup

Similarweb (NYSE:SMWB) had its price objective upped by analysts at Citigroup from $14.00 to $22.00 in a report issued on Tuesday,Benzinga reports. The brokerage presently has a “buy” rating on the stock. Citigroup’s price objective would indicate a potential upside of 29.02% from the stock’s previous close.

Several other research firms have also recently issued reports on SMWB. JMP Securities reissued a “market outperform” rating and set a $17.00 target price on shares of Similarweb in a research note on Wednesday, December 11th. William Blair restated an “outperform” rating on shares of Similarweb in a report on Thursday, December 19th. Northland Securities increased their target price on shares of Similarweb from $17.00 to $20.00 and gave the stock an “outperform” rating in a research note on Friday, January 24th. Jefferies Financial Group boosted their price target on shares of Similarweb from $13.00 to $23.00 and gave the company a “buy” rating in a research note on Monday, February 3rd. Finally, The Goldman Sachs Group initiated coverage on shares of Similarweb in a research report on Wednesday, December 11th. They set a “buy” rating and a $16.00 price objective for the company. Nine analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, Similarweb has an average rating of “Buy” and an average target price of $16.50.

Similarweb Trading Down 0.2 %

Shares of SMWB opened at $17.05 on Tuesday. Similarweb has a 12-month low of $5.71 and a 12-month high of $17.64. The firm has a market capitalization of $1.38 billion, a P/E ratio of -155.02 and a beta of 0.99. The firm has a 50-day moving average price of $14.86 and a 200 day moving average price of $11.14.

Similarweb (NYSE:SMWB) last announced its quarterly earnings results on Tuesday, November 12th. The company reported ($0.03) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.04 by ($0.07). Similarweb had a negative return on equity of 44.83% and a negative net margin of 3.92%. The firm had revenue of $64.71 million for the quarter, compared to analyst estimates of $62.90 million. During the same quarter in the prior year, the business earned ($0.05) EPS. Equities research analysts predict that Similarweb will post -0.05 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Similarweb

Several large investors have recently added to or reduced their stakes in the business. Natixis Advisors LLC purchased a new position in Similarweb in the 4th quarter valued at approximately $255,000. Telemark Asset Management LLC purchased a new position in Similarweb in the fourth quarter valued at $4,251,000. ANTIPODES PARTNERS Ltd grew its stake in Similarweb by 52.2% during the 4th quarter. ANTIPODES PARTNERS Ltd now owns 16,166 shares of the company’s stock worth $229,000 after purchasing an additional 5,542 shares in the last quarter. Swiss National Bank increased its holdings in Similarweb by 28.4% during the 4th quarter. Swiss National Bank now owns 80,974 shares of the company’s stock worth $1,147,000 after purchasing an additional 17,900 shares during the period. Finally, Connor Clark & Lunn Investment Management Ltd. raised its position in Similarweb by 50.6% in the 4th quarter. Connor Clark & Lunn Investment Management Ltd. now owns 677,465 shares of the company’s stock valued at $9,600,000 after purchasing an additional 227,569 shares in the last quarter. 57.59% of the stock is owned by hedge funds and other institutional investors.

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.