Similarweb (NYSE:SMWB) Price Target Raised to $23.00 at Jefferies Financial Group

Similarweb (NYSE:SMWB) had its price target hoisted by Jefferies Financial Group from $13.00 to $23.00 in a research note issued to investors on Monday,Benzinga reports. The brokerage currently has a buy rating on the stock.

SMWB has been the subject of several other reports. Northland Securities lifted their target price on Similarweb from $17.00 to $20.00 and gave the stock an “outperform” rating in a research report on Friday, January 24th. William Blair restated an “outperform” rating on shares of Similarweb in a research note on Thursday, December 19th. Needham & Company LLC reaffirmed a “buy” rating and set a $14.00 price target on shares of Similarweb in a research note on Thursday, January 16th. 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, JMP Securities reaffirmed a “market outperform” rating and set a $17.00 target price on shares of Similarweb in a research report on Wednesday, December 11th. Nine equities research analysts have rated the stock with a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, Similarweb currently has a consensus rating of “Buy” and an average target price of $15.50.

Similarweb Trading Up 2.7 %

Shares of NYSE:SMWB opened at $16.65 on Monday. Similarweb has a 12-month low of $5.71 and a 12-month high of $17.39. The company has a market cap of $1.35 billion, a PE ratio of -151.35 and a beta of 0.99. The stock has a 50 day moving average of $14.38 and a 200 day moving average of $10.77.

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

Institutional Trading of Similarweb

A number of hedge funds have recently modified their holdings of SMWB. Jennison Associates LLC purchased a new stake in shares of Similarweb in the fourth quarter valued at approximately $26,059,000. P.A.W. Capital Corp purchased a new stake in Similarweb in the 3rd quarter worth $3,536,000. Scalar Gauge Management LLC raised its position in Similarweb by 45.5% during the third quarter. Scalar Gauge Management LLC now owns 863,923 shares of the company’s stock worth $7,637,000 after acquiring an additional 270,000 shares during the period. Connor Clark & Lunn Investment Management Ltd. lifted its holdings in Similarweb by 112.7% during 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 purchasing an additional 238,428 shares in the last quarter. Finally, Walleye Capital LLC grew its position in shares of Similarweb by 115.9% in the third quarter. Walleye Capital LLC now owns 354,653 shares of the company’s stock valued at $3,135,000 after purchasing an additional 190,380 shares during the period. 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.