Brokerages Set Similarweb Ltd. (NYSE:SMWB) Price Target at $13.14

Similarweb Ltd. (NYSE:SMWB) has been assigned a consensus rating of “Buy” from the ten ratings firms that are currently covering the firm, Marketbeat Ratings reports. Nine investment analysts have rated the stock with a buy recommendation and one has issued a strong buy recommendation on the company. The average 1 year price target among analysts that have updated their coverage on the stock in the last year is $13.50.

A number of brokerages have issued reports on SMWB. Citigroup lifted their price target on shares of Similarweb from $10.00 to $14.00 and gave the company a “buy” rating in a report on Thursday, November 14th. William Blair reiterated an “outperform” rating on shares of Similarweb in a research report on Monday, September 9th. Northland Securities increased their price target on Similarweb from $15.00 to $17.00 and gave the company an “outperform” rating in a research note on Tuesday, November 26th. Needham & Company LLC reaffirmed a “buy” rating and issued a $14.00 price objective on shares of Similarweb in a research note on Wednesday, December 11th. Finally, JMP Securities reiterated a “market outperform” rating and set a $17.00 target price on shares of Similarweb in a research report on Wednesday, December 11th.

Similarweb Price Performance

Similarweb stock opened at $13.17 on Tuesday. The firm’s 50 day moving average price is $10.69 and its 200-day moving average price is $8.88. Similarweb has a 1 year low of $4.93 and a 1 year high of $13.52. The stock has a market cap of $1.07 billion, a P/E ratio of -119.73 and a beta of 1.03.

Institutional Inflows and Outflows

Several large investors have recently modified their holdings of the business. P.A.W. Capital Corp purchased a new stake in shares of Similarweb in the third quarter worth approximately $3,536,000. Scalar Gauge Management LLC grew its position in Similarweb by 45.5% in the 3rd quarter. Scalar Gauge Management LLC now owns 863,923 shares of the company’s stock valued at $7,637,000 after acquiring an additional 270,000 shares during the last quarter. Connor Clark & Lunn Investment Management Ltd. increased its stake in Similarweb by 112.7% in the third quarter. Connor Clark & Lunn Investment Management Ltd. now owns 449,896 shares of the company’s stock worth $3,977,000 after purchasing an additional 238,428 shares during the period. Walleye Capital LLC lifted its position in shares of Similarweb by 115.9% during the third quarter. Walleye Capital LLC now owns 354,653 shares of the company’s stock worth $3,135,000 after purchasing an additional 190,380 shares during the last quarter. Finally, Acadian Asset Management LLC lifted its position in shares of Similarweb by 60.8% during the second quarter. Acadian Asset Management LLC now owns 442,917 shares of the company’s stock worth $3,427,000 after purchasing an additional 167,500 shares during the last quarter. 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.