Similarweb’s (SMWB) Buy Rating Reaffirmed at Needham & Company LLC

Needham & Company LLC reissued their buy rating on shares of Similarweb (NYSE:SMWB) in a report published on Thursday,Benzinga reports. Needham & Company LLC currently has a $14.00 price target on the stock.

A number of other equities research analysts have also weighed in on the stock. The Goldman Sachs Group began coverage on shares of Similarweb in a research note on Wednesday, December 11th. They set a “buy” rating and a $16.00 target price for the company. JMP Securities reissued a “market outperform” rating and issued a $17.00 target price on shares of Similarweb in a report on Wednesday, December 11th. Northland Securities upped their price target on shares of Similarweb from $15.00 to $17.00 and gave the company an “outperform” rating in a research report on Tuesday, November 26th. William Blair reissued an “outperform” rating on shares of Similarweb in a report on Thursday, December 19th. Finally, Citigroup upped their target price on shares of Similarweb from $10.00 to $14.00 and gave the company a “buy” rating in a report on Thursday, November 14th. Nine investment analysts have rated the stock with a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, the stock currently has an average rating of “Buy” and an average target price of $13.50.

Similarweb Stock Performance

SMWB stock opened at $15.77 on Thursday. Similarweb has a 1-year low of $5.25 and a 1-year high of $16.33. The business has a fifty day moving average price of $13.17 and a 200-day moving average price of $9.92.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently modified their holdings of SMWB. Public Employees Retirement System of Ohio bought a new stake in Similarweb in the third quarter worth $70,000. Quantbot Technologies LP purchased a new position in Similarweb in the 3rd quarter worth about $75,000. International Assets Investment Management LLC bought a new stake in Similarweb during the 4th quarter valued at about $154,000. State of New Jersey Common Pension Fund D purchased a new stake in Similarweb in the 3rd quarter valued at about $122,000. Finally, Barclays PLC increased its position in shares of Similarweb by 201.0% during the third quarter. Barclays PLC now owns 15,414 shares of the company’s stock worth $136,000 after acquiring an additional 10,293 shares during the period. 57.59% of the stock is owned by hedge funds and other institutional investors.

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.