Similarweb Ltd. (NYSE:SMWB) Receives $16.50 Consensus Price Target from Analysts

Similarweb Ltd. (NYSE:SMWB) has been given an average rating of “Buy” by the ten brokerages that are currently covering the stock, Marketbeat reports. Nine equities research analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the company. The average twelve-month price objective among analysts that have issued a report on the stock in the last year is $16.50.

A number of research firms recently issued reports on SMWB. Northland Securities raised their price target on Similarweb from $17.00 to $20.00 and gave the stock an “outperform” rating in a research note on Friday, January 24th. Needham & Company LLC restated a “buy” rating and set a $14.00 target price on shares of Similarweb in a research report on Thursday, February 13th. William Blair reiterated an “outperform” rating on shares of Similarweb in a research report on Thursday, December 19th. Citigroup raised their price objective on shares of Similarweb from $14.00 to $22.00 and gave the stock a “buy” rating in a research report on Tuesday, February 11th. Finally, The Goldman Sachs Group assumed coverage on shares of Similarweb in a report on Wednesday, December 11th. They issued a “buy” rating and a $16.00 target price for the company.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently made changes to their positions in the company. Global Retirement Partners LLC purchased a new stake in Similarweb in the 4th quarter valued at approximately $29,000. New York State Common Retirement Fund purchased a new stake in shares of Similarweb in the fourth quarter valued at approximately $39,000. Public Employees Retirement System of Ohio acquired a new position in Similarweb during the third quarter worth $70,000. KLP Kapitalforvaltning AS acquired a new position in Similarweb during the fourth quarter worth $115,000. Finally, Heck Capital Advisors LLC purchased a new position in Similarweb in the fourth quarter worth $115,000. 57.59% of the stock is currently owned by institutional investors and hedge funds.

Similarweb Trading Up 0.8 %

Shares of NYSE:SMWB opened at $9.49 on Friday. The firm has a 50 day simple moving average of $14.15 and a 200-day simple moving average of $11.48. Similarweb has a twelve month low of $5.71 and a twelve month high of $17.64. The company has a market capitalization of $767.52 million, a PE ratio of -67.75 and a beta of 0.99.

Similarweb (NYSE:SMWB) last announced its quarterly earnings results on Tuesday, February 11th. The company reported ($0.07) earnings per share for the quarter, missing analysts’ consensus estimates of $0.03 by ($0.10). Similarweb had a negative net margin of 4.58% and a negative return on equity of 47.62%. As a group, equities research analysts predict that Similarweb will post -0.24 EPS for the current fiscal year.

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.