Similarweb (NYSE:SMWB) Receives “Market Outperform” Rating from JMP Securities

JMP Securities reaffirmed their market outperform rating on shares of Similarweb (NYSE:SMWB) in a research report sent to investors on Thursday,Benzinga reports. They currently have a $17.00 price target on the stock.

A number of other equities analysts have also issued reports on SMWB. Citigroup raised their price target on shares of Similarweb from $14.00 to $22.00 and gave the stock a “buy” rating in a research report on Tuesday. Jefferies Financial Group increased their price objective 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. Needham & Company LLC restated a “buy” rating and set a $14.00 target price on shares of Similarweb in a research report on Thursday. William Blair reaffirmed an “outperform” rating on shares of Similarweb in a research report on Thursday, December 19th. Finally, 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. Nine analysts have rated the stock with a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, the company has an average rating of “Buy” and an average price target of $16.50.

Similarweb Trading Down 10.6 %

NYSE:SMWB opened at $10.62 on Thursday. Similarweb has a 12 month low of $5.71 and a 12 month high of $17.64. The firm has a fifty day simple moving average of $14.87 and a 200-day simple moving average of $11.21.

Similarweb (NYSE:SMWB) last issued its earnings results on Tuesday, February 11th. The company reported ($0.07) earnings per share (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%. On average, sell-side analysts predict that Similarweb will post -0.05 earnings per share for the current year.

Hedge Funds Weigh In On Similarweb

Several institutional investors and hedge funds have recently modified their holdings of the business. P.A.W. Capital Corp acquired a new stake in Similarweb in the third quarter valued at approximately $3,536,000. State of New Jersey Common Pension Fund D acquired a new stake in Similarweb in the 3rd quarter valued at $122,000. Oppenheimer & Co. Inc. grew its stake in Similarweb by 9.8% in the 3rd quarter. Oppenheimer & Co. Inc. now owns 106,607 shares of the company’s stock valued at $942,000 after acquiring an additional 9,555 shares during the period. Connor Clark & Lunn Investment Management Ltd. increased its holdings in Similarweb by 112.7% in the 3rd quarter. Connor Clark & Lunn Investment Management Ltd. now owns 449,896 shares of the company’s stock worth $3,977,000 after acquiring an additional 238,428 shares in the last quarter. Finally, Quantbot Technologies LP acquired a new position in Similarweb during the third quarter worth $75,000. 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.