Similarweb’s (SMWB) Buy Rating Reaffirmed at Needham & Company LLC

Similarweb (NYSE:SMWB)‘s stock had its “buy” rating reiterated by Needham & Company LLC in a research note issued to investors on Thursday,Benzinga reports. They currently have a $14.00 target price on the stock. Needham & Company LLC’s price objective indicates a potential upside of 17.85% from the stock’s current price.

Several other equities research analysts have also issued reports on SMWB. 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. The Goldman Sachs Group initiated coverage on Similarweb in a research report on Wednesday, December 11th. They issued a “buy” rating and a $16.00 target price for the company. Citigroup increased their price target on shares of Similarweb from $14.00 to $22.00 and gave the company a “buy” rating in a research report on Tuesday. Jefferies Financial Group lifted their price target on shares of Similarweb from $13.00 to $23.00 and gave the stock a “buy” rating in a research note on Monday, February 3rd. Finally, Northland Securities upped their price objective on shares of Similarweb from $17.00 to $20.00 and gave the company an “outperform” rating in a research note on Friday, January 24th. Nine analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, the company has an average rating of “Buy” and a consensus price target of $16.50.

Similarweb Trading Down 29.2 %

SMWB stock opened at $11.88 on Thursday. Similarweb has a 1-year low of $5.71 and a 1-year high of $17.64. The stock has a market cap of $961.33 million, a price-to-earnings ratio of -108.00 and a beta of 0.99. The company’s 50 day moving average is $14.92 and its 200 day moving average is $11.21.

Similarweb (NYSE:SMWB) last issued its quarterly earnings results on Tuesday, February 11th. The company reported ($0.07) EPS for the quarter, missing analysts’ consensus estimates of $0.03 by ($0.10). Similarweb had a negative return on equity of 44.83% and a negative net margin of 3.92%. As a group, sell-side analysts forecast that Similarweb will post -0.05 EPS for the current fiscal year.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently made changes to their positions in the company. Meitav Investment House Ltd. boosted its position in Similarweb by 17.0% during the 4th quarter. Meitav Investment House Ltd. now owns 12,846 shares of the company’s stock valued at $182,000 after buying an additional 1,870 shares during the period. Global Retirement Partners LLC purchased a new stake in shares of Similarweb during the fourth quarter worth about $29,000. New York State Common Retirement Fund bought a new stake in shares of Similarweb in the fourth quarter worth about $39,000. XTX Topco Ltd increased its holdings in Similarweb by 9.0% during the 3rd quarter. XTX Topco Ltd now owns 53,980 shares of the company’s stock valued at $477,000 after purchasing an additional 4,453 shares during the period. Finally, Oppenheimer & Co. Inc. increased its holdings in Similarweb by 4.3% during the 4th quarter. Oppenheimer & Co. Inc. now owns 111,149 shares of the company’s stock valued at $1,575,000 after purchasing an additional 4,542 shares during the period. 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.