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

Needham & Company LLC restated their buy rating on shares of Similarweb (NYSE:SMWB) in a research report released on Wednesday morning,Benzinga reports. They currently have a $14.00 target price on the stock.

Several other equities analysts have also recently weighed in on the company. JMP Securities lifted their target price on Similarweb from $16.00 to $17.00 and gave the company a “market outperform” rating in a research note on Thursday, November 14th. William Blair restated an “outperform” rating on shares of Similarweb in a research note on Monday, September 9th. Northland Capmk upgraded Similarweb to a “strong-buy” rating in a research note on Tuesday, September 10th. Citigroup increased their price objective on Similarweb from $10.00 to $14.00 and gave the stock a “buy” rating in a research note on Thursday, November 14th. Finally, Northland Securities increased their price objective on Similarweb from $15.00 to $17.00 and gave the stock an “outperform” rating in a research note on Tuesday, November 26th. Nine analysts have rated the stock with a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, Similarweb currently has a consensus rating of “Buy” and an average target price of $13.50.

Similarweb Trading Down 1.7 %

NYSE SMWB opened at $12.78 on Wednesday. Similarweb has a 1 year low of $4.91 and a 1 year high of $13.52. The stock’s 50-day moving average price is $10.60 and its two-hundred day moving average price is $8.83. The company has a market cap of $1.03 billion, a PE ratio of -116.18 and a beta of 1.03.

Institutional Trading of Similarweb

Several large investors have recently made changes to their positions in SMWB. Connor Clark & Lunn Investment Management Ltd. boosted its holdings in Similarweb by 112.7% in the third quarter. Connor Clark & Lunn Investment Management Ltd. now owns 449,896 shares of the company’s stock valued at $3,977,000 after acquiring an additional 238,428 shares during the last quarter. Inspire Investing LLC bought a new position in Similarweb in the third quarter valued at about $886,000. Scalar Gauge Management LLC boosted its holdings in Similarweb by 56.8% in the second quarter. Scalar Gauge Management LLC now owns 593,923 shares of the company’s stock valued at $4,615,000 after acquiring an additional 215,221 shares during the last quarter. Cubist Systematic Strategies LLC boosted its holdings in Similarweb by 4.4% in the second quarter. Cubist Systematic Strategies LLC now owns 51,272 shares of the company’s stock valued at $398,000 after acquiring an additional 2,138 shares during the last quarter. Finally, Atom Investors LP boosted its holdings in Similarweb by 41.1% in the third quarter. Atom Investors LP now owns 143,942 shares of the company’s stock valued at $1,272,000 after acquiring an additional 41,935 shares during the last quarter. 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.