Similarweb (NYSE:SMWB) Coverage Initiated at Needham & Company LLC

Needham & Company LLC assumed coverage on shares of Similarweb (NYSE:SMWB) in a research report issued to clients and investors on Monday, Marketbeat Ratings reports. The firm set a “buy” rating and a $11.00 price target on the stock. Needham & Company LLC’s target price would suggest a potential upside of 21.41% from the company’s previous close.

SMWB has been the subject of a number of other reports. JMP Securities upped their price objective on Similarweb from $14.00 to $16.00 and gave the stock a “market outperform” rating in a report on Wednesday, August 21st. Northland Capmk upgraded Similarweb to a “strong-buy” rating in a research note on Tuesday, September 10th. Barclays lifted their price objective on Similarweb from $9.00 to $10.00 and gave the company an “overweight” rating in a research note on Thursday, August 8th. Cantor Fitzgerald reissued an “overweight” rating and set a $10.00 target price on shares of Similarweb in a research report on Wednesday, August 7th. Finally, William Blair restated an “outperform” rating on shares of Similarweb in a report on Monday, September 9th. Eight investment analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat.com, the company presently has an average rating of “Buy” and a consensus price target of $11.71.

Similarweb Price Performance

SMWB opened at $9.06 on Monday. The business has a fifty day moving average price of $8.80 and a 200 day moving average price of $7.93. Similarweb has a 12 month low of $4.58 and a 12 month high of $9.76. The stock has a market capitalization of $712.58 million, a price-to-earnings ratio of -36.24 and a beta of 0.84.

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

Institutional Trading of Similarweb

Several large investors have recently bought and sold shares of SMWB. ANTIPODES PARTNERS Ltd raised its stake in shares of Similarweb by 122.5% during the second quarter. ANTIPODES PARTNERS Ltd now owns 11,580 shares of the company’s stock valued at $90,000 after purchasing an additional 6,376 shares during the period. Counterpoint Mutual Funds LLC acquired a new position in Similarweb in the 1st quarter worth $136,000. Blair William & Co. IL lifted its holdings in Similarweb by 20.1% in the 1st quarter. Blair William & Co. IL now owns 21,662 shares of the company’s stock worth $195,000 after buying an additional 3,621 shares in the last quarter. California State Teachers Retirement System lifted its holdings in Similarweb by 10.1% in the 1st quarter. California State Teachers Retirement System now owns 26,892 shares of the company’s stock worth $242,000 after buying an additional 2,475 shares in the last quarter. Finally, Quadrature Capital Ltd purchased a new position in Similarweb in the 1st quarter valued at about $311,000. Institutional investors and hedge funds 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.