Similarweb (NYSE:SMWB) Sets New 12-Month High – Here’s Why

Similarweb Ltd. (NYSE:SMWB)’s stock price hit a new 52-week high during mid-day trading on Tuesday . The stock traded as high as $14.84 and last traded at $14.66, with a volume of 499927 shares trading hands. The stock had previously closed at $14.56.

Analyst Ratings Changes

Several equities research analysts have recently weighed in on the company. The Goldman Sachs Group initiated coverage on Similarweb in a report on Wednesday, December 11th. They issued a “buy” rating and a $16.00 price target on the stock. Northland Securities lifted their target price on Similarweb from $15.00 to $17.00 and gave the stock an “outperform” rating in a research report on Tuesday, November 26th. Citigroup upped their price target on shares of Similarweb from $10.00 to $14.00 and gave the stock a “buy” rating in a report on Thursday, November 14th. JMP Securities reiterated a “market outperform” rating and set a $17.00 price objective on shares of Similarweb in a report on Wednesday, December 11th. Finally, William Blair restated an “outperform” rating on shares of Similarweb in a research note on Thursday, December 19th. Nine research analysts have rated the stock with a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has an average rating of “Buy” and an average price target of $13.50.

Similarweb Price Performance

The business’s fifty day simple moving average is $11.45 and its two-hundred day simple moving average is $9.19. The company has a market cap of $1.18 billion, a PE ratio of -132.09 and a beta of 1.03.

Hedge Funds Weigh In On Similarweb

A number of institutional investors have recently added to or reduced their stakes in the stock. Public Employees Retirement System of Ohio purchased a new position in shares of Similarweb during the 3rd quarter worth $70,000. Quantbot Technologies LP acquired a new position in Similarweb in the third quarter valued at about $75,000. ANTIPODES PARTNERS Ltd boosted its stake in Similarweb by 122.5% during the second quarter. ANTIPODES PARTNERS Ltd now owns 11,580 shares of the company’s stock worth $90,000 after buying an additional 6,376 shares during the period. State of New Jersey Common Pension Fund D acquired a new stake in shares of Similarweb during the third quarter valued at about $122,000. Finally, Barclays PLC increased its position in shares of Similarweb by 201.0% during the third 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 last quarter. Hedge funds and other 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.