Analysts Set Similarweb Ltd. (NYSE:SMWB) Target Price at $16.50

Similarweb Ltd. (NYSE:SMWB) has received a consensus rating of “Buy” from the ten brokerages that are currently covering the company, MarketBeat.com reports. Nine investment analysts have rated the stock with a buy recommendation and one has assigned a strong buy recommendation to the company. The average 12 month target price among brokerages that have updated their coverage on the stock in the last year is $16.50.

SMWB has been the subject of a number of research reports. JMP Securities reissued a “market outperform” rating and issued a $17.00 price target on shares of Similarweb in a research note on Thursday, February 13th. Northland Securities increased their price target 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. The Goldman Sachs Group initiated coverage on shares of Similarweb in a research note on Wednesday, December 11th. They issued a “buy” rating and a $16.00 price target for the company. Jefferies Financial Group increased their price target on shares of Similarweb from $13.00 to $23.00 and gave the stock a “buy” rating in a research note on Monday, February 3rd. Finally, Citigroup upped their price objective on shares of Similarweb from $14.00 to $22.00 and gave the stock a “buy” rating in a report on Tuesday, February 11th.

Institutional Investors Weigh In On Similarweb

A number of institutional investors have recently made changes to their positions in SMWB. Meitav Investment House Ltd. boosted its holdings in Similarweb by 17.0% in the fourth quarter. Meitav Investment House Ltd. now owns 12,846 shares of the company’s stock worth $182,000 after purchasing an additional 1,870 shares during the last quarter. Public Employees Retirement System of Ohio raised its position in Similarweb by 25.3% in the fourth quarter. Public Employees Retirement System of Ohio now owns 9,900 shares of the company’s stock worth $140,000 after acquiring an additional 2,000 shares during the period. Global Retirement Partners LLC bought a new position in Similarweb in the fourth quarter worth approximately $29,000. New York State Common Retirement Fund bought a new position in Similarweb in the fourth quarter worth approximately $39,000. Finally, XTX Topco Ltd raised its position in Similarweb by 9.0% in the third quarter. XTX Topco Ltd now owns 53,980 shares of the company’s stock worth $477,000 after acquiring an additional 4,453 shares during the period. Hedge funds and other institutional investors own 57.59% of the company’s stock.

Similarweb Stock Down 4.7 %

Shares of NYSE:SMWB opened at $9.46 on Friday. The stock has a market cap of $765.17 million, a PE ratio of -67.54 and a beta of 0.99. The company’s fifty day moving average is $14.26 and its 200 day moving average is $11.44. Similarweb has a 52 week low of $5.71 and a 52 week high of $17.64.

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