Similarweb’s (SMWB) “Market Outperform” Rating Reiterated at JMP Securities

JMP Securities reaffirmed their market outperform rating on shares of Similarweb (NYSE:SMWB) in a report published on Wednesday,Benzinga reports. The firm currently has a $17.00 price target on the stock.

Several other equities analysts have also recently issued reports on the company. Needham & Company LLC reaffirmed a “buy” rating and issued a $14.00 price objective on shares of Similarweb in a research report on Wednesday. Northland Securities upped their price objective on Similarweb from $15.00 to $17.00 and gave the company an “outperform” rating in a research report on Tuesday, November 26th. William Blair reaffirmed an “outperform” rating on shares of Similarweb in a research report on Monday, September 9th. Northland Capmk raised Similarweb to a “strong-buy” rating in a research report on Tuesday, September 10th. Finally, The Goldman Sachs Group assumed coverage on Similarweb in a research report on Wednesday. They issued a “buy” rating and a $16.00 price objective on the stock. Nine research 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 presently has a consensus rating of “Buy” and an average price target of $13.50.

Similarweb Trading Down 1.7 %

SMWB stock opened at $12.78 on Wednesday. The stock has a market capitalization of $1.03 billion, a PE ratio of -116.18 and a beta of 1.03. Similarweb has a 12-month low of $4.91 and a 12-month high of $13.52. The stock’s 50 day simple moving average is $10.60 and its 200 day simple moving average is $8.83.

Hedge Funds Weigh In On Similarweb

A number of institutional investors have recently bought and sold shares of the stock. Connor Clark & Lunn Investment Management Ltd. increased its stake 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 buying an additional 238,428 shares in the last quarter. Inspire Investing LLC purchased a new stake in Similarweb in the 3rd quarter worth $886,000. Scalar Gauge Management LLC increased its stake in Similarweb by 56.8% in the 2nd quarter. Scalar Gauge Management LLC now owns 593,923 shares of the company’s stock worth $4,615,000 after buying an additional 215,221 shares in the last quarter. Cubist Systematic Strategies LLC increased its stake in Similarweb by 4.4% in the 2nd quarter. Cubist Systematic Strategies LLC now owns 51,272 shares of the company’s stock worth $398,000 after buying an additional 2,138 shares in the last quarter. Finally, Atom Investors LP grew its position in shares of Similarweb by 41.1% during the third quarter. Atom Investors LP now owns 143,942 shares of the company’s stock valued at $1,272,000 after purchasing an additional 41,935 shares in the last quarter. 57.59% of the stock is owned by institutional investors.

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.