Similarweb (NYSE:SMWB) Sees Strong Trading Volume – Here’s What Happened

Similarweb Ltd. (NYSE:SMWB) saw strong trading volume on Wednesday . 375,708 shares were traded during trading, a decline of 19% from the previous session’s volume of 462,825 shares.The stock last traded at $15.96 and had previously closed at $15.12.

Wall Street Analysts Forecast Growth

SMWB has been the subject of several research reports. JMP Securities reaffirmed a “market outperform” rating and set a $17.00 price objective on shares of Similarweb in a research note on Wednesday, December 11th. The Goldman Sachs Group started coverage on shares of Similarweb in a report on Wednesday, December 11th. They issued a “buy” rating and a $16.00 price objective on the stock. Northland Securities upped their price target on Similarweb from $15.00 to $17.00 and gave the stock an “outperform” rating in a research note on Tuesday, November 26th. Citigroup raised their price objective on shares of Similarweb from $10.00 to $14.00 and gave the company a “buy” rating in a research note on Thursday, November 14th. Finally, Needham & Company LLC reiterated a “buy” rating and issued a $14.00 target price on shares of Similarweb in a report on Thursday. Nine analysts have rated the stock with a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, Similarweb currently has a consensus rating of “Buy” and an average target price of $13.50.

Similarweb Stock Down 1.9 %

The business’s fifty day simple moving average is $13.29 and its two-hundred day simple moving average is $9.96. The company has a market cap of $1.28 billion, a price-to-earnings ratio of -143.38 and a beta of 0.97.

Institutional Investors Weigh In On Similarweb

A number of institutional investors and hedge funds have recently bought and sold shares of SMWB. Public Employees Retirement System of Ohio purchased a new position in Similarweb during the 3rd quarter worth $70,000. Quantbot Technologies LP acquired a new position in Similarweb during the 3rd quarter worth approximately $75,000. State of New Jersey Common Pension Fund D purchased a new position in Similarweb in the third quarter worth $122,000. Barclays PLC lifted its stake in shares of Similarweb by 201.0% in the third quarter. Barclays PLC now owns 15,414 shares of the company’s stock valued at $136,000 after purchasing an additional 10,293 shares during the period. Finally, International Assets Investment Management LLC acquired a new stake in shares of Similarweb during the 4th quarter valued at approximately $154,000. 57.59% of the stock is owned by hedge funds and other 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.