Similarweb Ltd. (NYSE:SMWB) Receives Consensus Recommendation of “Buy” from Analysts

Similarweb Ltd. (NYSE:SMWB) has been assigned an average recommendation of “Buy” from the ten ratings firms that are presently covering the company, Marketbeat.com reports. Nine investment analysts have rated the stock with a buy rating and one has given a strong buy rating to the company. The average 1-year price target among brokerages that have issued a report on the stock in the last year is $15.75.

A number of equities analysts have recently weighed in on SMWB shares. Jefferies Financial Group upped their target price on Similarweb from $13.00 to $23.00 and gave the company a “buy” rating in a report on Monday, February 3rd. Northland Securities upped their price objective on shares of Similarweb from $17.00 to $20.00 and gave the company an “outperform” rating in a research note on Friday, January 24th. Needham & Company LLC reiterated a “buy” rating and issued a $14.00 target price on shares of Similarweb in a research report on Thursday, February 13th. JMP Securities restated a “market outperform” rating and set a $17.00 price target on shares of Similarweb in a report on Thursday, February 13th. Finally, The Goldman Sachs Group cut their price objective on Similarweb from $13.00 to $10.00 and set a “buy” rating for the company in a report on Thursday.

Similarweb Price Performance

SMWB stock opened at $6.79 on Monday. The company’s 50 day simple moving average is $8.69 and its 200-day simple moving average is $11.28. Similarweb has a 52-week low of $5.71 and a 52-week high of $17.64. The firm has a market capitalization of $560.98 million, a P/E ratio of -48.50 and a beta of 1.12.

Similarweb (NYSE:SMWB) last released its earnings results on Tuesday, February 11th. The company reported ($0.07) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.03 by ($0.10). Similarweb had a negative net margin of 4.58% and a negative return on equity of 47.62%. Sell-side analysts predict that Similarweb will post -0.24 EPS for the current fiscal year.

Hedge Funds Weigh In On Similarweb

Hedge funds have recently bought and sold shares of the business. Global Retirement Partners LLC acquired a new stake in shares of Similarweb in the fourth quarter worth $29,000. New York State Common Retirement Fund bought a new position in Similarweb in the 4th quarter worth $39,000. Public Employees Retirement System of Ohio acquired a new position in Similarweb during the 3rd quarter worth $70,000. Heck Capital Advisors LLC bought a new stake in Similarweb during the fourth quarter valued at about $115,000. Finally, KLP Kapitalforvaltning AS bought a new stake in Similarweb during the fourth quarter valued at about $115,000. 57.59% of the stock is owned by institutional investors and hedge funds.

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.