Similarweb Ltd. (NYSE:SMWB) Receives Consensus Rating of “Buy” from Brokerages

Similarweb Ltd. (NYSE:SMWB) has been assigned a consensus rating of “Buy” from the ten analysts that are currently covering the stock, Marketbeat Ratings reports. Nine investment analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the company. The average twelve-month price objective among brokerages that have covered the stock in the last year is $16.50.

Several analysts recently weighed in on SMWB shares. Northland Securities lifted their price target on shares of Similarweb from $17.00 to $20.00 and gave the company an “outperform” rating in a report on Friday, January 24th. William Blair restated an “outperform” rating on shares of Similarweb in a report on Thursday, December 19th. JMP Securities restated a “market outperform” rating and set a $17.00 target price on shares of Similarweb in a report on Thursday, February 13th. The Goldman Sachs Group began coverage on shares of Similarweb in a report on Wednesday, December 11th. They set a “buy” rating and a $16.00 target price on the stock. Finally, Needham & Company LLC restated a “buy” rating and set a $14.00 target price on shares of Similarweb in a report on Thursday, February 13th.

Hedge Funds Weigh In On Similarweb

Several large investors have recently modified their holdings of SMWB. P.A.W. Capital Corp purchased a new position in shares of Similarweb in the 3rd quarter worth about $3,536,000. State of New Jersey Common Pension Fund D purchased a new position in shares of Similarweb in the 3rd quarter worth about $122,000. Oppenheimer & Co. Inc. raised its position in shares of Similarweb by 9.8% in the 3rd quarter. Oppenheimer & Co. Inc. now owns 106,607 shares of the company’s stock worth $942,000 after purchasing an additional 9,555 shares during the last quarter. Connor Clark & Lunn Investment Management Ltd. raised its position in shares of 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 purchasing an additional 238,428 shares during the last quarter. Finally, Quantbot Technologies LP purchased a new position in shares of Similarweb in the 3rd quarter worth about $75,000. Hedge funds and other institutional investors own 57.59% of the company’s stock.

Similarweb Stock Performance

Shares of Similarweb stock opened at $9.59 on Friday. Similarweb has a 52-week low of $5.71 and a 52-week high of $17.64. The stock has a market capitalization of $776.02 million, a price-to-earnings ratio of -68.50 and a beta of 0.99. The company’s 50 day moving average price is $14.58 and its 200-day moving average price is $11.41.

Similarweb (NYSE:SMWB) last issued its earnings results on Tuesday, February 11th. The company reported ($0.07) earnings per share (EPS) for the quarter, missing the consensus estimate of $0.03 by ($0.10). Similarweb had a negative return on equity of 47.62% and a negative net margin of 4.58%. As a group, equities research analysts forecast that Similarweb will post -0.24 earnings per share for the current fiscal year.

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.