Similarweb (NYSE:SMWB) Reaches New 1-Year High – Here’s What Happened

Shares of Similarweb Ltd. (NYSE:SMWB) reached a new 52-week high during mid-day trading on Monday . The company traded as high as $14.88 and last traded at $14.83, with a volume of 498922 shares traded. The stock had previously closed at $14.51.

Analyst Ratings Changes

Several equities research analysts recently weighed in on the company. JMP Securities reissued a “market outperform” rating and set a $17.00 price objective on shares of Similarweb in a report on Wednesday, December 11th. Northland Capmk upgraded Similarweb to a “strong-buy” rating in a report on Tuesday, September 10th. 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 for the company. Citigroup boosted their target price on shares of Similarweb from $10.00 to $14.00 and gave the stock a “buy” rating in a report on Thursday, November 14th. Finally, Northland Securities lifted their price target on shares of Similarweb from $15.00 to $17.00 and gave the stock an “outperform” rating in a report on Tuesday, November 26th. Nine equities research analysts have rated the stock with a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, the stock has an average rating of “Buy” and an average price target of $13.50.

Similarweb Stock Performance

The company has a market cap of $1.20 billion, a price-to-earnings ratio of -134.82 and a beta of 0.97. The stock’s fifty day moving average is $12.20 and its two-hundred day moving average is $9.53.

Institutional Investors Weigh In On Similarweb

A number of institutional investors and hedge funds have recently bought and sold shares of the stock. Acadian Asset Management LLC lifted its position in shares of Similarweb by 60.8% during the second quarter. Acadian Asset Management LLC now owns 442,917 shares of the company’s stock valued at $3,427,000 after purchasing an additional 167,500 shares in the last quarter. Renaissance Technologies LLC lifted its position in shares of Similarweb by 4.3% during the 2nd quarter. Renaissance Technologies LLC now owns 110,600 shares of the company’s stock worth $859,000 after buying an additional 4,599 shares in the last quarter. XTX Topco Ltd grew its holdings in shares of Similarweb by 63.9% in the second quarter. XTX Topco Ltd now owns 49,527 shares of the company’s stock valued at $385,000 after acquiring an additional 19,313 shares in the last quarter. 272 Capital LP bought a new position in shares of Similarweb in the second quarter valued at approximately $529,000. Finally, Scalar Gauge Management LLC lifted its holdings in Similarweb by 56.8% during the second quarter. Scalar Gauge Management LLC now owns 593,923 shares of the company’s stock worth $4,615,000 after acquiring an additional 215,221 shares during the period. 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.