Similarweb (NYSE:SMWB) Trading 4.1% Higher

Shares of Similarweb Ltd. (NYSE:SMWB) traded up 4.1% on Tuesday . The stock traded as high as $8.47 and last traded at $8.44. 123,649 shares changed hands during mid-day trading, a decline of 26% from the average session volume of 167,123 shares. The stock had previously closed at $8.11.

Wall Street Analysts Forecast Growth

SMWB has been the subject of several recent analyst reports. Barclays lifted their price target on Similarweb from $9.00 to $10.00 and gave the company an “overweight” rating in a report on Thursday, August 8th. Cantor Fitzgerald reaffirmed an “overweight” rating and set a $10.00 target price on shares of Similarweb in a research note on Wednesday, August 7th. Six analysts have rated the stock with a buy rating, According to data from MarketBeat.com, the stock presently has a consensus rating of “Buy” and a consensus price target of $10.80.

Similarweb Trading Up 5.1 %

The firm has a market cap of $670.11 million, a price-to-earnings ratio of -34.16 and a beta of 0.76. The stock has a fifty day moving average price of $7.25 and a 200 day moving average price of $7.76.

Institutional Inflows and Outflows

A number of hedge funds have recently made changes to their positions in the stock. ANTIPODES PARTNERS Ltd grew its holdings in Similarweb by 122.5% in the 2nd quarter. ANTIPODES PARTNERS Ltd now owns 11,580 shares of the company’s stock valued at $90,000 after buying an additional 6,376 shares during the last quarter. Counterpoint Mutual Funds LLC acquired a new stake in Similarweb in the 1st quarter valued at approximately $136,000. Blair William & Co. IL grew its holdings in Similarweb by 20.1% in the 1st quarter. Blair William & Co. IL now owns 21,662 shares of the company’s stock valued at $195,000 after buying an additional 3,621 shares during the last quarter. California State Teachers Retirement System grew its holdings in Similarweb by 10.1% in the 1st quarter. California State Teachers Retirement System now owns 26,892 shares of the company’s stock valued at $242,000 after buying an additional 2,475 shares during the last quarter. Finally, Quadrature Capital Ltd acquired a new stake in Similarweb in the 1st quarter valued at approximately $311,000. Institutional investors and hedge funds own 57.59% of the company’s stock.

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.