Similarweb (NYSE:SMWB) Sets New 12-Month High – Time to Buy?

Shares of Similarweb Ltd. (NYSE:SMWB) hit a new 52-week high during mid-day trading on Thursday . The company traded as high as $16.88 and last traded at $16.54, with a volume of 634493 shares. The stock had previously closed at $16.66.

Wall Street Analyst Weigh In

A number of equities analysts recently issued reports on SMWB shares. The Goldman Sachs Group started coverage on Similarweb in a report on Wednesday, December 11th. They issued a “buy” rating and a $16.00 price objective for the company. JMP Securities reaffirmed a “market outperform” rating and set a $17.00 price target on shares of Similarweb in a research note on Wednesday, December 11th. Needham & Company LLC reaffirmed a “buy” rating and set a $14.00 price target on shares of Similarweb in a research note on Thursday, January 16th. William Blair reaffirmed an “outperform” rating on shares of Similarweb in a research note on Thursday, December 19th. Finally, Citigroup increased their price target on Similarweb from $10.00 to $14.00 and gave the company a “buy” rating in a research note on Thursday, November 14th. Nine investment 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 a consensus rating of “Buy” and an average price target of $13.88.

Similarweb Trading Down 4.7 %

The business has a 50-day moving average price of $14.30 and a 200 day moving average price of $10.66. The company has a market cap of $1.31 billion, a price-to-earnings ratio of -147.36 and a beta of 0.97.

Similarweb (NYSE:SMWB) last released its earnings results on Tuesday, November 12th. The company reported ($0.03) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.04 by ($0.07). The business had revenue of $64.71 million during the quarter, compared to analysts’ expectations of $62.90 million. Similarweb had a negative net margin of 3.92% and a negative return on equity of 44.83%. During the same quarter in the previous year, the company earned ($0.05) EPS. On average, analysts anticipate that Similarweb Ltd. will post -0.05 earnings per share for the current year.

Institutional Trading of Similarweb

Hedge funds have recently modified their holdings of the business. Global Retirement Partners LLC purchased a new stake in shares of Similarweb in the fourth quarter valued at $29,000. New York State Common Retirement Fund purchased a new stake in shares of Similarweb in the fourth quarter valued at $39,000. Public Employees Retirement System of Ohio purchased a new stake in shares of Similarweb in the third quarter valued at $70,000. Quantbot Technologies LP purchased a new stake in shares of Similarweb in the third quarter valued at $75,000. Finally, Heck Capital Advisors LLC acquired a new position in shares of Similarweb in the fourth quarter worth $115,000. Hedge funds and other institutional investors 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.