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

Needham & Company LLC reiterated their buy rating on shares of Similarweb (NYSE:SMWB) in a research note released on Monday,Benzinga reports. The brokerage currently has a $14.00 price target on the stock.

A number of other research analysts have also weighed in on SMWB. Citigroup reaffirmed a “market outperform” rating on shares of Similarweb in a research note on Tuesday, October 28th. Weiss Ratings reaffirmed a “sell (e+)” rating on shares of Similarweb in a research report on Wednesday, October 8th. Zacks Research raised shares of Similarweb from a “strong sell” rating to a “hold” rating in a research note on Thursday, August 14th. Oppenheimer lifted their price target on Similarweb from $13.00 to $14.00 and gave the company an “outperform” rating in a research note on Monday, August 18th. Finally, Barclays restated an “overweight” rating on shares of Similarweb in a report on Wednesday, August 13th. Nine research analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $13.38.

Similarweb Price Performance

Similarweb stock opened at $7.26 on Monday. The firm has a market capitalization of $615.73 million, a price-to-earnings ratio of -19.61 and a beta of 1.09. The company’s 50 day simple moving average is $8.97 and its 200 day simple moving average is $8.48. Similarweb has a fifty-two week low of $6.36 and a fifty-two week high of $17.64.

Similarweb (NYSE:SMWB) last posted its earnings results on Tuesday, November 11th. The company reported $0.05 earnings per share for the quarter, topping the consensus estimate of $0.02 by $0.03. Similarweb had a negative net margin of 11.20% and a negative return on equity of 78.25%. The company had revenue of $71.79 million for the quarter, compared to analyst estimates of $71.95 million. Similarweb has set its FY 2025 guidance at EPS. As a group, analysts predict that Similarweb will post -0.24 EPS for the current fiscal year.

Institutional Inflows and Outflows

Several institutional investors have recently made changes to their positions in SMWB. Wellington Management Group LLP raised its stake in shares of Similarweb by 163.6% during the 3rd quarter. Wellington Management Group LLP now owns 2,457,805 shares of the company’s stock worth $22,858,000 after purchasing an additional 1,525,230 shares in the last quarter. Menora Mivtachim Holdings LTD. raised its position in Similarweb by 37.9% during the third quarter. Menora Mivtachim Holdings LTD. now owns 3,208,394 shares of the company’s stock worth $29,838,000 after acquiring an additional 881,652 shares in the last quarter. New York State Common Retirement Fund bought a new stake in Similarweb during the third quarter worth $7,903,000. T. Rowe Price Investment Management Inc. lifted its stake in Similarweb by 109.1% in the first quarter. T. Rowe Price Investment Management Inc. now owns 1,410,826 shares of the company’s stock valued at $11,668,000 after acquiring an additional 736,004 shares during the last quarter. Finally, American Century Companies Inc. bought a new position in shares of Similarweb in the 1st quarter valued at about $6,015,000. Institutional investors and hedge funds own 57.59% of the company’s stock.

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.