Similarweb (NYSE:SMWB) Price Target Raised to $17.00

Similarweb (NYSE:SMWB) had its target price hoisted by Northland Securities from $15.00 to $17.00 in a report published on Tuesday morning,Benzinga reports. The brokerage currently has an outperform rating on the stock.

A number of other brokerages have also recently issued reports on SMWB. Barclays lifted their price objective on Similarweb from $9.00 to $10.00 and gave the company an “overweight” rating in a report on Thursday, August 8th. Cantor Fitzgerald reissued an “overweight” rating and set a $10.00 price objective on shares of Similarweb in a report on Wednesday, August 7th. William Blair restated an “outperform” rating on shares of Similarweb in a research report on Monday, September 9th. JMP Securities lifted their price objective on shares of Similarweb from $16.00 to $17.00 and gave the stock a “market outperform” rating in a research note on Thursday, November 14th. Finally, Citigroup boosted their target price on Similarweb from $10.00 to $14.00 and gave the company a “buy” rating in a research note on Thursday, November 14th. Eight research analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, Similarweb has an average rating of “Buy” and an average target price of $13.14.

Similarweb Stock Performance

Shares of Similarweb stock opened at $12.57 on Tuesday. The firm’s 50-day simple moving average is $9.63 and its 200-day simple moving average is $8.43. The firm has a market cap of $1.02 billion, a P/E ratio of -114.27 and a beta of 0.84. Similarweb has a twelve month low of $4.58 and a twelve month high of $12.99.

Institutional Investors Weigh In On Similarweb

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. Connor Clark & Lunn Investment Management Ltd. increased its holdings in Similarweb by 112.7% during the third quarter. Connor Clark & Lunn Investment Management Ltd. now owns 449,896 shares of the company’s stock worth $3,977,000 after buying an additional 238,428 shares during the last quarter. Inspire Investing LLC acquired a new position in shares of Similarweb during the 3rd quarter worth about $886,000. Scalar Gauge Management LLC increased its stake in shares of Similarweb by 56.8% during the 2nd quarter. Scalar Gauge Management LLC now owns 593,923 shares of the company’s stock worth $4,615,000 after purchasing an additional 215,221 shares during the last quarter. Cubist Systematic Strategies LLC raised its holdings in shares of Similarweb by 4.4% in the 2nd quarter. Cubist Systematic Strategies LLC now owns 51,272 shares of the company’s stock valued at $398,000 after purchasing an additional 2,138 shares during the period. Finally, Acadian Asset Management LLC lifted its stake in Similarweb by 60.8% in the 2nd quarter. Acadian Asset Management LLC now owns 442,917 shares of the company’s stock valued at $3,427,000 after purchasing an additional 167,500 shares during the last quarter. 57.59% of the stock is owned by institutional investors.

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.