Northland Securities Forecasts Strong Price Appreciation for Similarweb (NYSE:SMWB) Stock

Similarweb (NYSE:SMWB) had its price target hoisted by equities researchers at Northland Securities from $17.00 to $20.00 in a report issued on Friday,Benzinga reports. The brokerage presently has an “outperform” rating on the stock. Northland Securities’ price target indicates a potential upside of 20.12% from the company’s previous close.

Several other analysts have also recently commented on SMWB. Citigroup raised their target price on Similarweb from $10.00 to $14.00 and gave the stock a “buy” rating in a research report on Thursday, November 14th. Needham & Company LLC restated a “buy” rating and set a $14.00 price objective on shares of Similarweb in a research report on Thursday, January 16th. William Blair reiterated an “outperform” rating on shares of Similarweb in a report on Thursday, December 19th. The Goldman Sachs Group assumed coverage on shares of Similarweb in a report on Wednesday, December 11th. They set a “buy” rating and a $16.00 price target for the company. Finally, JMP Securities reaffirmed a “market outperform” rating and issued a $17.00 price target on shares of Similarweb in a research note on Wednesday, December 11th. Nine analysts have rated the stock with a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat, Similarweb currently has an average rating of “Buy” and a consensus price target of $13.88.

Similarweb Stock Up 3.7 %

Shares of NYSE SMWB opened at $16.65 on Friday. Similarweb has a 52-week low of $5.71 and a 52-week high of $16.67. The stock has a market capitalization of $1.35 billion, a price-to-earnings ratio of -151.36 and a beta of 0.97. The stock’s fifty day simple moving average is $13.88 and its 200 day simple moving average is $10.34.

Similarweb (NYSE:SMWB) last posted its quarterly earnings data on Tuesday, November 12th. The company reported ($0.03) earnings per share (EPS) for the quarter, missing the consensus estimate of $0.04 by ($0.07). Similarweb had a negative return on equity of 44.83% and a negative net margin of 3.92%. The company had revenue of $64.71 million for the quarter, compared to analyst estimates of $62.90 million. During the same quarter in the previous year, the firm posted ($0.05) EPS. As a group, analysts anticipate that Similarweb will post -0.05 earnings per share for the current year.

Institutional Inflows and Outflows

Several institutional investors have recently bought and sold shares of the company. Renaissance Technologies LLC boosted its position in shares of Similarweb by 4.3% in the second quarter. Renaissance Technologies LLC now owns 110,600 shares of the company’s stock valued at $859,000 after acquiring an additional 4,599 shares during the period. Cubist Systematic Strategies LLC boosted its holdings in Similarweb by 4.4% in the 2nd quarter. Cubist Systematic Strategies LLC now owns 51,272 shares of the company’s stock valued at $398,000 after purchasing an additional 2,138 shares during the period. Inspire Investing LLC acquired a new stake in Similarweb in the 3rd quarter worth $886,000. P.A.W. Capital Corp bought a new position in shares of Similarweb during the 3rd quarter worth about $3,536,000. Finally, State of New Jersey Common Pension Fund D acquired a new position in shares of Similarweb during the third quarter valued at about $122,000. 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.