Similarweb (NYSE:SMWB) Receives “Buy” Rating from Needham & Company LLC

Similarweb (NYSE:SMWB)‘s stock had its “buy” rating restated by analysts at Needham & Company LLC in a research report issued on Thursday,Benzinga reports. They currently have a $14.00 price target on the stock. Needham & Company LLC’s price objective would suggest a potential upside of 17.85% from the company’s previous close.

Several other equities analysts also recently weighed in on the company. William Blair restated an “outperform” rating on shares of Similarweb in a report on Thursday, December 19th. The Goldman Sachs Group initiated coverage on shares of Similarweb in a research note on Wednesday, December 11th. They set a “buy” rating and a $16.00 price objective for the company. Jefferies Financial Group upped their target price on shares of Similarweb from $13.00 to $23.00 and gave the stock a “buy” rating in a research note on Monday, February 3rd. Citigroup raised their price target on shares of Similarweb from $14.00 to $22.00 and gave the company a “buy” rating in a research report on Tuesday. Finally, Northland Securities upped their price objective on Similarweb from $17.00 to $20.00 and gave the company an “outperform” rating in a research report on Friday, January 24th. Nine equities research analysts have rated the stock with a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has an average rating of “Buy” and a consensus price target of $16.50.

Similarweb Trading Down 29.2 %

Shares of SMWB opened at $11.88 on Thursday. Similarweb has a 1-year low of $5.71 and a 1-year high of $17.64. The firm’s 50-day moving average price is $14.92 and its 200-day moving average price is $11.21. The firm has a market capitalization of $961.33 million, a price-to-earnings ratio of -108.00 and a beta of 0.99.

Similarweb (NYSE:SMWB) last posted its quarterly earnings data 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, research analysts forecast that Similarweb will post -0.05 EPS for the current fiscal year.

Institutional Trading of Similarweb

Several large investors have recently modified their holdings of the company. Connor Clark & Lunn Investment Management Ltd. lifted its holdings in Similarweb by 112.7% in the third quarter. Connor Clark & Lunn Investment Management Ltd. now owns 449,896 shares of the company’s stock valued at $3,977,000 after acquiring an additional 238,428 shares during the period. State Street Corp increased its position in shares of Similarweb by 32.5% during the 3rd quarter. State Street Corp now owns 187,919 shares of the company’s stock valued at $1,661,000 after purchasing an additional 46,102 shares during the last quarter. Y.D. More Investments Ltd lifted its stake in shares of Similarweb by 6.3% in the 4th quarter. Y.D. More Investments Ltd now owns 1,449,634 shares of the company’s stock worth $20,541,000 after purchasing an additional 86,500 shares during the period. JPMorgan Chase & Co. boosted its holdings in shares of Similarweb by 147.4% in the third quarter. JPMorgan Chase & Co. now owns 171,539 shares of the company’s stock worth $1,516,000 after buying an additional 102,192 shares during the last quarter. Finally, Jennison Associates LLC bought a new stake in Similarweb during the fourth quarter valued at approximately $26,059,000. 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.