Similarweb Ltd. (NYSE:SMWB) Receives Average Recommendation of “Buy” from Brokerages

Similarweb Ltd. (NYSE:SMWB) has been given an average recommendation of “Buy” by the nine ratings firms that are presently covering the firm, Marketbeat Ratings reports. Eight analysts have rated the stock with a buy rating and one has issued a strong buy rating on the company. The average 1 year target price among brokers that have updated their coverage on the stock in the last year is $12.86.

SMWB has been the topic of a number of research analyst reports. Barclays raised their price target on shares of Similarweb from $9.00 to $10.00 and gave the company an “overweight” rating in a research note on Thursday, August 8th. Northland Capmk raised Similarweb to a “strong-buy” rating in a report on Tuesday, September 10th. JMP Securities increased their target price on Similarweb from $16.00 to $17.00 and gave the company a “market outperform” rating in a research report on Thursday. Cantor Fitzgerald reaffirmed an “overweight” rating and issued a $10.00 price objective on shares of Similarweb in a research note on Wednesday, August 7th. Finally, Citigroup lifted their target price on shares of Similarweb from $10.00 to $14.00 and gave the stock a “buy” rating in a research report on Thursday.

Similarweb Stock Performance

Shares of NYSE SMWB opened at $11.85 on Friday. Similarweb has a 52 week low of $4.58 and a 52 week high of $11.88. The stock’s fifty day moving average is $9.02 and its 200 day moving average is $8.12. The stock has a market capitalization of $958.90 million, a P/E ratio of -107.73 and a beta of 0.84.

Institutional Trading of Similarweb

A number of institutional investors have recently modified their holdings of SMWB. P.A.W. Capital Corp purchased a new stake in Similarweb in the 3rd quarter worth approximately $3,536,000. Russell Investments Group Ltd. purchased a new position in Similarweb in the 1st quarter worth approximately $2,820,000. Roubaix Capital LLC bought a new position in Similarweb in the first quarter valued at $2,449,000. Scalar Gauge Management LLC increased its position in shares of Similarweb by 45.5% during the 3rd quarter. Scalar Gauge Management LLC now owns 863,923 shares of the company’s stock valued at $7,637,000 after purchasing an additional 270,000 shares during the last quarter. Finally, Acadian Asset Management LLC raised its stake in shares of Similarweb by 3,663.6% during the first quarter. Acadian Asset Management LLC now owns 275,417 shares of the company’s stock worth $2,468,000 after acquiring an additional 268,099 shares in the last quarter. 57.59% of the stock is currently 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.