Similarweb Ltd. (NYSE:SMWB) Receives $11.83 Average PT from Analysts

Shares of Similarweb Ltd. (NYSE:SMWB) have been assigned an average rating of “Buy” from the nine brokerages that are covering the stock, Marketbeat Ratings reports. Eight equities research analysts have rated the stock with a buy recommendation and one has assigned a strong buy recommendation to the company. The average 1 year price target among brokerages that have issued a report on the stock in the last year is $11.71.

Several equities analysts have commented on SMWB shares. JMP Securities increased their price target on Similarweb from $14.00 to $16.00 and gave the company a “market outperform” rating in a report on Wednesday, August 21st. Needham & Company LLC initiated coverage on shares of Similarweb in a research note on Monday. They set a “buy” rating and a $11.00 price objective on the stock. William Blair reiterated an “outperform” rating on shares of Similarweb in a research report on Monday, September 9th. Cantor Fitzgerald restated an “overweight” rating and issued a $10.00 price target on shares of Similarweb in a research report on Wednesday, August 7th. Finally, Northland Securities initiated coverage on shares of Similarweb in a research report on Tuesday, September 10th. They issued an “outperform” rating and a $15.00 price objective on the stock.

Similarweb Stock Down 3.6 %

SMWB stock opened at $8.73 on Monday. The company has a market capitalization of $686.62 million, a PE ratio of -34.92 and a beta of 0.84. Similarweb has a 52-week low of $4.58 and a 52-week high of $9.76. The stock’s 50 day moving average is $8.82 and its two-hundred day moving average is $7.93.

Similarweb (NYSE:SMWB) last issued its quarterly earnings data on Tuesday, August 6th. The company reported ($0.01) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.05) by $0.04. The business had revenue of $60.64 million for the quarter, compared to analysts’ expectations of $60.23 million. Similarweb had a negative net margin of 5.07% and a negative return on equity of 60.53%. As a group, sell-side analysts anticipate that Similarweb will post -0.04 EPS for the current year.

Hedge Funds Weigh In On Similarweb

A number of hedge funds and other institutional investors have recently bought and sold shares of SMWB. Scalar Gauge Management LLC lifted its holdings in Similarweb by 56.8% in the 2nd quarter. Scalar Gauge Management LLC now owns 593,923 shares of the company’s stock worth $4,615,000 after buying an additional 215,221 shares during the period. Acadian Asset Management LLC grew its position in Similarweb by 60.8% in the 2nd quarter. Acadian Asset Management LLC now owns 442,917 shares of the company’s stock worth $3,427,000 after purchasing an additional 167,500 shares during the period. Russell Investments Group Ltd. purchased a new stake in Similarweb during the first quarter valued at $2,820,000. Roubaix Capital LLC bought a new position in shares of Similarweb in the 1st quarter worth approximately $2,449,000. Finally, Essex Investment Management Co. LLC purchased a new position in shares of Similarweb during the 1st quarter worth $2,344,000. Hedge funds and other institutional investors 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.