Similarweb (NYSE:SMWB) Sets New 1-Year High – Here’s What Happened

Similarweb Ltd. (NYSE:SMWB) hit a new 52-week high on Friday . The stock traded as high as $9.97 and last traded at $9.90, with a volume of 45972 shares changing hands. The stock had previously closed at $9.58.

Analyst Ratings Changes

SMWB has been the topic of several research reports. Northland Securities assumed coverage on shares of Similarweb in a report on Tuesday, September 10th. They set an “outperform” rating and a $15.00 price objective on the stock. Northland Capmk upgraded shares of Similarweb to a “strong-buy” rating in a report on Tuesday, September 10th. Barclays upped their target price on shares of Similarweb from $9.00 to $10.00 and gave the stock an “overweight” rating in a report on Thursday, August 8th. William Blair restated an “outperform” rating on shares of Similarweb in a report on Monday, September 9th. Finally, JMP Securities upped their target price on shares of Similarweb from $14.00 to $16.00 and gave the stock a “market outperform” rating in a report on Wednesday, August 21st. Eight analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Buy” and a consensus price target of $11.71.

Similarweb Stock Performance

The stock has a market cap of $805.15 million, a PE ratio of -71.07 and a beta of 0.84. The company’s 50 day simple moving average is $8.87 and its 200 day simple moving average is $8.03.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently modified their holdings of the stock. Connor Clark & Lunn Investment Management Ltd. grew its position in shares of Similarweb by 112.7% during the 3rd quarter. Connor Clark & Lunn Investment Management Ltd. now owns 449,896 shares of the company’s stock valued at $3,977,000 after acquiring an additional 238,428 shares during the period. Oppenheimer & Co. Inc. grew its position in shares of Similarweb by 9.8% during the 3rd quarter. Oppenheimer & Co. Inc. now owns 106,607 shares of the company’s stock valued at $942,000 after acquiring an additional 9,555 shares during the period. State of New Jersey Common Pension Fund D bought a new position in shares of Similarweb during the 3rd quarter valued at approximately $122,000. P.A.W. Capital Corp bought a new position in shares of Similarweb during the 3rd quarter valued at approximately $3,536,000. Finally, Inspire Investing LLC bought a new position in shares of Similarweb during the 3rd quarter valued at approximately $886,000. 57.59% of the stock is owned by institutional investors.

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.