Similarweb Ltd. (NYSE:SMWB) Receives Consensus Recommendation of “Buy” from Analysts

Shares of Similarweb Ltd. (NYSE:SMWB) have been assigned a consensus rating of “Buy” from the eight research firms that are covering the firm, MarketBeat Ratings reports. Seven analysts have rated the stock with a buy recommendation and one has assigned a strong buy recommendation to the company. The average twelve-month price objective among brokers that have issued a report on the stock in the last year is $11.83.

Several analysts have recently weighed in on SMWB shares. William Blair reissued an “outperform” rating on shares of Similarweb in a report on Monday, September 9th. JMP Securities increased their price objective on Similarweb from $14.00 to $16.00 and gave the company a “market outperform” rating in a report on Wednesday, August 21st. Northland Securities initiated coverage on shares of Similarweb in a research report on Tuesday, September 10th. They set an “outperform” rating and a $15.00 target price on the stock. Cantor Fitzgerald reiterated an “overweight” rating and issued a $10.00 price target on shares of Similarweb in a research report on Wednesday, August 7th. Finally, Northland Capmk raised shares of Similarweb to a “strong-buy” rating in a research report on Tuesday, September 10th.

Hedge Funds Weigh In On Similarweb

Several institutional investors and hedge funds have recently added to or reduced their stakes in SMWB. Inspire Investing LLC purchased a new stake in shares of Similarweb in the third quarter valued at approximately $886,000. Cubist Systematic Strategies LLC lifted its holdings in Similarweb by 4.4% in the second quarter. Cubist Systematic Strategies LLC now owns 51,272 shares of the company’s stock valued at $398,000 after acquiring an additional 2,138 shares during the period. Scalar Gauge Management LLC boosted its position in shares of Similarweb by 56.8% during the 2nd quarter. Scalar Gauge Management LLC now owns 593,923 shares of the company’s stock worth $4,615,000 after purchasing an additional 215,221 shares in the last quarter. 272 Capital LP acquired a new position in shares of Similarweb during the 2nd quarter worth $529,000. Finally, XTX Topco Ltd increased its holdings in shares of Similarweb by 63.9% in the 2nd quarter. XTX Topco Ltd now owns 49,527 shares of the company’s stock valued at $385,000 after purchasing an additional 19,313 shares in the last quarter. Institutional investors and hedge funds own 57.59% of the company’s stock.

Similarweb Trading Up 2.1 %

SMWB stock opened at $9.17 on Monday. The stock has a market cap of $721.23 million, a P/E ratio of -36.68 and a beta of 0.84. Similarweb has a twelve month low of $4.58 and a twelve month high of $9.76. The company’s 50 day moving average is $8.78 and its two-hundred day moving average is $7.93.

Similarweb (NYSE:SMWB) last posted its earnings results on Tuesday, August 6th. The company reported ($0.01) EPS for the quarter, beating analysts’ consensus estimates of ($0.05) by $0.04. Similarweb had a negative net margin of 5.07% and a negative return on equity of 60.53%. The firm had revenue of $60.64 million for the quarter, compared to the consensus estimate of $60.23 million. On average, equities research analysts predict that Similarweb will post -0.04 earnings per share for the current year.

About Similarweb

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.