Similarweb (NYSE:SMWB) Price Target Raised to $14.00

Similarweb (NYSE:SMWB) had its price target increased by research analysts at Citigroup from $10.00 to $14.00 in a research report issued on Thursday,Benzinga reports. The brokerage currently has a “buy” rating on the stock. Citigroup’s price target points to a potential upside of 18.54% from the stock’s previous close.

Several other research analysts also recently issued reports on SMWB. JMP Securities upped their price target on shares of Similarweb from $16.00 to $17.00 and gave the stock a “market outperform” rating in a report on Thursday. Northland Capmk raised shares of Similarweb to a “strong-buy” rating in a research report on Tuesday, September 10th. Barclays increased their price objective 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. Needham & Company LLC increased their price objective on shares of Similarweb from $11.00 to $14.00 and gave the stock a “buy” rating in a research report on Thursday. Finally, Cantor Fitzgerald reissued an “overweight” rating and set a $10.00 price objective on shares of Similarweb in a research report on Wednesday, August 7th. Eight equities research analysts have rated the stock with a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, the stock has an average rating of “Buy” and an average price target of $12.86.

Similarweb Stock Performance

Similarweb stock traded up $0.69 during midday trading on Thursday, reaching $11.81. 629,714 shares of the company’s stock were exchanged, compared to its average volume of 199,409. Similarweb has a 52 week low of $4.58 and a 52 week high of $11.85. The firm has a market cap of $955.67 million, a price-to-earnings ratio of -107.09 and a beta of 0.84. The stock’s 50-day simple moving average is $8.96 and its 200 day simple moving average is $8.09.

Hedge Funds Weigh In On Similarweb

A number of hedge funds and other institutional investors have recently modified their holdings of SMWB. Quantbot Technologies LP purchased a new position in Similarweb in the 3rd quarter worth about $75,000. ANTIPODES PARTNERS Ltd increased its stake in Similarweb by 122.5% in the 2nd quarter. ANTIPODES PARTNERS Ltd now owns 11,580 shares of the company’s stock worth $90,000 after buying an additional 6,376 shares during the period. State of New Jersey Common Pension Fund D purchased a new position in Similarweb in the 3rd quarter worth about $122,000. Verition Fund Management LLC purchased a new position in Similarweb in the 3rd quarter worth about $160,000. Finally, Blair William & Co. IL boosted its holdings in shares of Similarweb by 20.1% in the 1st quarter. Blair William & Co. IL now owns 21,662 shares of the company’s stock valued at $195,000 after buying an additional 3,621 shares in the last quarter. Institutional investors own 57.59% of the company’s stock.

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.