Similarweb (NYSE:SMWB) Given New $14.00 Price Target at Needham & Company LLC

Similarweb (NYSE:SMWB) had its price objective upped by Needham & Company LLC from $11.00 to $14.00 in a research report released on Thursday morning,Benzinga reports. Needham & Company LLC currently has a buy rating on the stock.

A number of other research firms have also recently commented on SMWB. Barclays upped their price objective on Similarweb from $9.00 to $10.00 and gave the company an “overweight” rating in a report on Thursday, August 8th. Cantor Fitzgerald restated an “overweight” rating and issued a $10.00 price objective on shares of Similarweb in a research note on Wednesday, August 7th. JMP Securities increased their target price on shares of Similarweb from $14.00 to $16.00 and gave the stock a “market outperform” rating in a research note on Wednesday, August 21st. Northland Securities began coverage on shares of Similarweb in a research report on Tuesday, September 10th. They issued an “outperform” rating and a $15.00 price objective for the company. Finally, William Blair reiterated an “outperform” rating on shares of Similarweb in a research report on Monday, September 9th. Eight equities research analysts have rated the stock with a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, the stock currently has an average rating of “Buy” and an average price target of $12.86.

Similarweb Trading Down 2.9 %

SMWB stock opened at $11.51 on Thursday. Similarweb has a 12-month low of $4.58 and a 12-month high of $11.95. The business’s 50-day moving average is $9.07 and its 200 day moving average is $8.15.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently bought and sold shares of the company. Public Employees Retirement System of Ohio bought a new stake in Similarweb in the 3rd quarter valued at $70,000. Quantbot Technologies LP bought a new stake in Similarweb in the 3rd quarter valued at $75,000. ANTIPODES PARTNERS Ltd boosted 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 purchasing an additional 6,376 shares during the period. State of New Jersey Common Pension Fund D bought a new stake in Similarweb in the 3rd quarter valued at $122,000. Finally, Barclays PLC boosted its holdings in Similarweb by 201.0% in the 3rd quarter. Barclays PLC now owns 15,414 shares of the company’s stock valued at $136,000 after purchasing an additional 10,293 shares during the period. 57.59% of the stock is currently 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.