Similarweb (NYSE:SMWB) Price Target Raised to $17.00 at JMP Securities

Similarweb (NYSE:SMWB) had its target price increased by investment analysts at JMP Securities from $16.00 to $17.00 in a research note issued on Thursday,Benzinga reports. The brokerage presently has a “market outperform” rating on the stock. JMP Securities’ price target would suggest a potential upside of 45.30% from the stock’s current price.

A number of other research analysts have also issued reports on SMWB. Cantor Fitzgerald reiterated an “overweight” rating and set a $10.00 price target on shares of Similarweb in a research report on Wednesday, August 7th. Barclays increased their target price on shares of Similarweb from $9.00 to $10.00 and gave the company an “overweight” rating in a research report on Thursday, August 8th. Northland Capmk raised shares of Similarweb to a “strong-buy” rating in a research note on Tuesday, September 10th. Needham & Company LLC raised their price objective on shares of Similarweb from $11.00 to $14.00 and gave the company a “buy” rating in a research note on Thursday. Finally, Northland Securities started coverage on Similarweb in a research note on Tuesday, September 10th. They set an “outperform” rating and a $15.00 price target for the company. Eight equities research analysts have rated the stock with a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company has a consensus rating of “Buy” and an average target price of $12.29.

Similarweb Price Performance

Shares of NYSE SMWB traded up $0.58 during midday trading on Thursday, hitting $11.70. 548,524 shares of the company’s stock were exchanged, compared to its average volume of 199,041. Similarweb has a twelve month low of $4.58 and a twelve month high of $11.79. The firm has a market cap of $946.76 million, a P/E ratio of -106.82 and a beta of 0.84. The stock’s 50 day moving average price is $8.96 and its 200-day moving average price is $8.09.

Institutional Investors Weigh In On Similarweb

Several hedge funds have recently modified their holdings of SMWB. Walleye Capital LLC raised its holdings in Similarweb by 115.9% during the 3rd quarter. Walleye Capital LLC now owns 354,653 shares of the company’s stock worth $3,135,000 after buying an additional 190,380 shares during the period. Quantbot Technologies LP purchased a new stake in shares of Similarweb in the 3rd quarter valued at approximately $75,000. Connor Clark & Lunn Investment Management Ltd. lifted its position in shares of Similarweb by 112.7% in the 3rd quarter. Connor Clark & Lunn Investment Management Ltd. now owns 449,896 shares of the company’s stock valued at $3,977,000 after acquiring an additional 238,428 shares in the last quarter. Oppenheimer & Co. Inc. grew its position in Similarweb by 9.8% during the 3rd quarter. Oppenheimer & Co. Inc. now owns 106,607 shares of the company’s stock worth $942,000 after purchasing an additional 9,555 shares in the last quarter. Finally, State of New Jersey Common Pension Fund D acquired a new stake in Similarweb during the 3rd quarter valued at $122,000. 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.