Similarweb Ltd. (NYSE:SMWB) Receives Average Recommendation of “Buy” from Analysts

Similarweb Ltd. (NYSE:SMWB) has earned an average rating of “Buy” from the eight brokerages that are covering the company, Marketbeat Ratings reports. Seven analysts have rated the stock with a buy recommendation and one has assigned a strong buy recommendation to the company. The average 12-month target price among analysts that have updated their coverage on the stock in the last year is $11.83.

SMWB has been the topic of several recent analyst reports. William Blair reaffirmed an “outperform” rating on shares of Similarweb in a report on Monday, September 9th. JMP Securities lifted their price objective on Similarweb from $14.00 to $16.00 and gave the stock a “market outperform” rating in a report on Wednesday, August 21st. Cantor Fitzgerald reissued an “overweight” rating and set a $10.00 target price on shares of Similarweb in a report on Wednesday, August 7th. Northland Capmk raised Similarweb to a “strong-buy” rating in a research note on Tuesday, September 10th. Finally, Northland Securities initiated coverage on Similarweb in a research note on Tuesday, September 10th. They issued an “outperform” rating and a $15.00 price objective for the company.

Similarweb Trading Up 0.5 %

NYSE SMWB opened at $8.84 on Thursday. The stock has a market capitalization of $695.27 million, a price-to-earnings ratio of -35.36 and a beta of 0.85. The stock has a 50-day moving average of $8.20 and a 200 day moving average of $7.95. Similarweb has a twelve month low of $4.58 and a twelve month 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. Similarweb had a negative return on equity of 60.53% and a negative net margin of 5.07%. The business had revenue of $60.64 million during the quarter, compared to the consensus estimate of $60.23 million. Equities analysts predict that Similarweb will post -0.04 EPS for the current fiscal year.

Institutional Trading of Similarweb

Several large investors have recently added to or reduced their stakes in SMWB. ANTIPODES PARTNERS Ltd grew its stake in shares of Similarweb by 122.5% in the 2nd quarter. ANTIPODES PARTNERS Ltd now owns 11,580 shares of the company’s stock valued at $90,000 after buying an additional 6,376 shares during the period. Counterpoint Mutual Funds LLC acquired a new stake in Similarweb during the first quarter worth $136,000. Blair William & Co. IL raised its position in Similarweb by 20.1% in the first quarter. Blair William & Co. IL now owns 21,662 shares of the company’s stock valued at $195,000 after purchasing an additional 3,621 shares during the period. California State Teachers Retirement System lifted its stake in shares of Similarweb by 10.1% in the 1st quarter. California State Teachers Retirement System now owns 26,892 shares of the company’s stock valued at $242,000 after purchasing an additional 2,475 shares during the last quarter. Finally, Quadrature Capital Ltd purchased a new position in shares of Similarweb during the 1st quarter worth $311,000. 57.59% of the stock is currently owned by hedge funds and other institutional investors.

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.