Similarweb Ltd. (NYSE:SMWB) Receives Consensus Rating of “Buy” from Analysts

Shares of Similarweb Ltd. (NYSE:SMWB) have been given an average recommendation of “Buy” by the six brokerages that are covering the firm, MarketBeat.com reports. Six analysts have rated the stock with a buy recommendation. The average 12 month price objective among analysts that have issued a report on the stock in the last year is $11.20.

Several analysts have recently issued reports on SMWB shares. Barclays increased their price target on shares of Similarweb from $9.00 to $10.00 and gave the stock an “overweight” rating in a research report on Thursday, August 8th. Cantor Fitzgerald reissued an “overweight” rating and set a $10.00 price target on shares of Similarweb in a research report on Wednesday, August 7th. Finally, JMP Securities increased their price target on shares of Similarweb from $14.00 to $16.00 and gave the stock a “market outperform” rating in a research report on Wednesday, August 21st.

Similarweb Price Performance

Shares of SMWB stock opened at $8.93 on Friday. The firm has a market cap of $702.34 million, a PE ratio of -35.72 and a beta of 0.85. The company has a 50-day moving average of $7.65 and a two-hundred day moving average of $7.94. Similarweb has a 1-year low of $4.58 and a 1-year high of $9.76.

Similarweb (NYSE:SMWB) last announced its earnings results on Tuesday, August 6th. The company reported ($0.01) earnings per share for the quarter, topping the consensus estimate of ($0.05) by $0.04. The company had revenue of $60.64 million during the quarter, compared to analyst estimates of $60.23 million. Similarweb had a negative net margin of 5.07% and a negative return on equity of 60.53%. Sell-side analysts anticipate that Similarweb will post -0.05 EPS for the current fiscal year.

Institutional Trading of Similarweb

Hedge funds have recently added to or reduced their stakes in the company. Russell Investments Group Ltd. acquired a new stake in Similarweb in the first quarter valued at approximately $2,820,000. Oppenheimer & Co. Inc. acquired a new stake in Similarweb in the first quarter valued at approximately $654,000. Scalar Gauge Management LLC acquired a new stake in Similarweb in the fourth quarter valued at approximately $1,188,000. Acadian Asset Management LLC raised its holdings in Similarweb by 3,663.6% in the first quarter. Acadian Asset Management LLC now owns 275,417 shares of the company’s stock valued at $2,468,000 after acquiring an additional 268,099 shares in the last quarter. Finally, Circumference Group LLC acquired a new stake in Similarweb in the fourth quarter valued at approximately $725,000. 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.