Similarweb (NYSE:SMWB) Hits New 1-Year High – What’s Next?

Similarweb Ltd. (NYSE:SMWB) hit a new 52-week high during trading on Tuesday . The company traded as high as $15.29 and last traded at $15.21, with a volume of 645677 shares trading hands. The stock had previously closed at $14.12.

Analysts Set New Price Targets

SMWB has been the topic of several analyst reports. The Goldman Sachs Group assumed coverage on Similarweb in a research note on Wednesday, December 11th. They issued a “buy” rating and a $16.00 price objective on the stock. JMP Securities reiterated a “market outperform” rating and issued a $17.00 price objective on shares of Similarweb in a research report on Wednesday, December 11th. Northland Securities raised their target price on Similarweb from $15.00 to $17.00 and gave the stock an “outperform” rating in a report on Tuesday, November 26th. Citigroup boosted their target price on Similarweb from $10.00 to $14.00 and gave the company a “buy” rating in a research note on Thursday, November 14th. Finally, William Blair reaffirmed an “outperform” rating on shares of Similarweb in a research note on Thursday, December 19th. Nine equities research analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, Similarweb currently has an average rating of “Buy” and a consensus target price of $13.50.

Similarweb Price Performance

The stock has a 50-day simple moving average of $13.17 and a 200-day simple moving average of $9.92. The stock has a market cap of $1.28 billion, a P/E ratio of -143.38 and a beta of 0.97.

Hedge Funds Weigh In On Similarweb

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Public Employees Retirement System of Ohio bought a new position in shares of Similarweb in the 3rd quarter valued at $70,000. Quantbot Technologies LP bought a new stake in shares of Similarweb during the third quarter worth about $75,000. International Assets Investment Management LLC acquired a new position in shares of Similarweb in the fourth quarter valued at approximately $154,000. State of New Jersey Common Pension Fund D bought a new stake in Similarweb during the 3rd quarter worth approximately $122,000. Finally, Barclays PLC increased its position in Similarweb by 201.0% in the 3rd quarter. Barclays PLC now owns 15,414 shares of the company’s stock valued at $136,000 after acquiring an additional 10,293 shares during the period. 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.