Northland Securities Begins Coverage on Similarweb (NYSE:SMWB)

Northland Securities initiated coverage on shares of Similarweb (NYSE:SMWB) in a report released on Tuesday morning, MarketBeat reports. The firm issued an outperform rating and a $15.00 target price on the stock.

Several other analysts have also commented on the stock. Cantor Fitzgerald reiterated an overweight rating and issued a $10.00 price target on shares of Similarweb in a research report on Wednesday, August 7th. William Blair reissued an outperform rating on shares of Similarweb in a research report on Monday. Barclays increased their price objective on Similarweb from $9.00 to $10.00 and gave the company an overweight rating in a research note on Thursday, August 8th. Finally, JMP Securities boosted their target price on shares of Similarweb from $14.00 to $16.00 and gave the company a market outperform rating in a research note on Wednesday, August 21st. Seven research analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, the company has a consensus rating of Buy and a consensus target price of $11.83.

Similarweb Trading Up 0.6 %

SMWB stock opened at $9.57 on Tuesday. Similarweb has a 12-month low of $4.58 and a 12-month high of $9.76. The company has a market cap of $752.68 million, a price-to-earnings ratio of -38.28 and a beta of 0.84. The firm has a 50 day moving average of $7.80 and a 200-day moving average of $7.98.

Similarweb (NYSE:SMWB) last announced its quarterly earnings results on Tuesday, August 6th. The company reported ($0.01) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.05) by $0.04. Similarweb had a negative return on equity of 60.53% and a negative net margin of 5.07%. The business had revenue of $60.64 million during the quarter, compared to analysts’ expectations of $60.23 million. Sell-side analysts forecast that Similarweb will post -0.05 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Similarweb

Several institutional investors and hedge funds have recently bought and sold shares of the stock. Russell Investments Group Ltd. acquired a new position in shares of Similarweb in the 1st quarter valued at $2,820,000. Roubaix Capital LLC acquired a new position in Similarweb in the first quarter valued at $2,449,000. Acadian Asset Management LLC grew its position in Similarweb by 3,663.6% during the first quarter. Acadian Asset Management LLC now owns 275,417 shares of the company’s stock valued at $2,468,000 after acquiring an additional 268,099 shares during the period. Essex Investment Management Co. LLC acquired a new stake in Similarweb during the first quarter worth about $2,344,000. Finally, Scalar Gauge Management LLC purchased a new position in shares of Similarweb in the 4th quarter worth about $1,188,000. 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.