Similarweb (NYSE:SMWB) Reaches New 52-Week High After Analyst Upgrade

Similarweb Ltd. (NYSE:SMWB)’s share price reached a new 52-week high during mid-day trading on Tuesday after Citigroup raised their price target on the stock from $14.00 to $22.00. Citigroup currently has a buy rating on the stock. Similarweb traded as high as $17.64 and last traded at $17.05, with a volume of 529197 shares trading hands. The stock had previously closed at $17.08.

A number of other research analysts also recently issued reports on the company. Northland Securities boosted their price objective on Similarweb from $17.00 to $20.00 and gave the company an “outperform” rating in a research note on Friday, January 24th. Needham & Company LLC reiterated a “buy” rating and set a $14.00 price objective on shares of Similarweb in a research note on Thursday, January 16th. The Goldman Sachs Group initiated coverage on Similarweb in a research note on Wednesday, December 11th. They issued a “buy” rating and a $16.00 price target for the company. William Blair restated an “outperform” rating on shares of Similarweb in a research note on Thursday, December 19th. Finally, JMP Securities restated a “market outperform” rating and issued a $17.00 price target on shares of Similarweb in a research note on Wednesday, December 11th. Nine research analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, Similarweb currently has a consensus rating of “Buy” and an average price target of $16.50.

Institutional Trading of Similarweb

Hedge funds have recently modified their holdings of the company. Global Retirement Partners LLC purchased a new stake in shares of Similarweb during the 4th quarter worth approximately $29,000. New York State Common Retirement Fund purchased a new stake in shares of Similarweb during the 4th quarter worth approximately $39,000. Public Employees Retirement System of Ohio purchased a new stake in shares of Similarweb during the 3rd quarter worth approximately $70,000. KLP Kapitalforvaltning AS purchased a new stake in Similarweb during the 4th quarter valued at $115,000. Finally, Heck Capital Advisors LLC purchased a new stake in Similarweb during the 4th quarter valued at $115,000. 57.59% of the stock is owned by hedge funds and other institutional investors.

Similarweb Stock Performance

The company has a fifty day moving average of $14.92 and a two-hundred day moving average of $11.21. The company has a market cap of $961.33 million, a PE ratio of -108.00 and a beta of 0.99.

Similarweb (NYSE:SMWB) last released its quarterly earnings results on Tuesday, February 11th. The company reported ($0.07) earnings per share for the quarter, missing the consensus estimate of $0.03 by ($0.10). Similarweb had a negative net margin of 3.92% and a negative return on equity of 44.83%. On average, equities analysts forecast that Similarweb Ltd. will post -0.05 EPS for the current year.

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.