Similarweb (NYSE:SMWB) Price Target Raised to $23.00

Similarweb (NYSE:SMWB) had its target price hoisted by investment analysts at Jefferies Financial Group from $13.00 to $23.00 in a report released on Monday,Benzinga reports. The brokerage currently has a “buy” rating on the stock. Jefferies Financial Group’s target price would indicate a potential upside of 41.89% from the company’s current price.

Several other equities research analysts have also recently issued reports on the stock. Citigroup raised their target price on shares of Similarweb from $10.00 to $14.00 and gave the stock a “buy” rating in a research report on Thursday, November 14th. Northland Securities raised their target price on shares of Similarweb from $17.00 to $20.00 and gave the stock an “outperform” rating in a research report on Friday, January 24th. William Blair restated an “outperform” rating on shares of Similarweb in a report on Thursday, December 19th. The Goldman Sachs Group began coverage on shares of Similarweb in a report on Wednesday, December 11th. They issued a “buy” rating and a $16.00 price target on the stock. Finally, JMP Securities restated a “market outperform” rating and issued a $17.00 price target on shares of Similarweb in a report on Wednesday, December 11th. Nine equities research analysts have rated the stock with a buy rating and one has given a strong buy rating to the company. According to MarketBeat, the company currently has a consensus rating of “Buy” and an average price target of $15.50.

Similarweb Trading Down 4.7 %

Shares of NYSE SMWB opened at $16.21 on Monday. The stock has a market cap of $1.31 billion, a price-to-earnings ratio of -147.36 and a beta of 0.99. Similarweb has a 52 week low of $5.71 and a 52 week high of $17.39. The company’s 50-day moving average price is $14.30 and its 200 day moving average price is $10.71.

Similarweb (NYSE:SMWB) last released its quarterly earnings results on Tuesday, November 12th. The company reported ($0.03) earnings per share (EPS) for the quarter, missing the consensus estimate 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 period in the prior year, the business earned ($0.05) earnings per share. As a group, research analysts expect that Similarweb will post -0.05 earnings per share for the current year.

Institutional Trading of Similarweb

A number of hedge funds have recently made changes to their positions in SMWB. Global Retirement Partners LLC acquired a new stake in shares of Similarweb during the fourth quarter worth approximately $29,000. New York State Common Retirement Fund acquired a new stake in shares of Similarweb during the fourth quarter worth approximately $39,000. Public Employees Retirement System of Ohio acquired a new stake in shares of Similarweb during the third quarter worth approximately $70,000. Quantbot Technologies LP acquired a new stake in shares of Similarweb during the third quarter worth approximately $75,000. Finally, Heck Capital Advisors LLC acquired a new stake in shares of Similarweb during the fourth quarter worth approximately $115,000. Hedge funds and other institutional investors 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.