Similarweb (NYSE:SMWB) Stock Price Up 5.1% Following Analyst Upgrade

Similarweb Ltd. (NYSE:SMWB) shot up 5.1% during mid-day trading on Monday after Jefferies Financial Group raised their price target on the stock from $13.00 to $23.00. Jefferies Financial Group currently has a buy rating on the stock. Similarweb traded as high as $16.98 and last traded at $17.03. 241,526 shares changed hands during trading, a decline of 62% from the average session volume of 627,399 shares. The stock had previously closed at $16.21.

Several other research firms have also commented on SMWB. Citigroup upped 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. JMP Securities restated a “market outperform” rating and issued a $17.00 price target on shares of Similarweb in a research report on Wednesday, December 11th. Northland Securities raised their price objective on Similarweb from $17.00 to $20.00 and gave the stock an “outperform” rating in a research note on Friday, January 24th. The Goldman Sachs Group began coverage on Similarweb in a research note on Wednesday, December 11th. They set a “buy” rating and a $16.00 price objective for the company. Finally, William Blair restated an “outperform” rating on shares of Similarweb in a research note on Thursday, December 19th. Nine 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 data from MarketBeat.com, Similarweb currently has an average rating of “Buy” and an average target price of $15.50.

Institutional Investors Weigh In On Similarweb

Several institutional investors have recently modified their holdings of the stock. Global Retirement Partners LLC purchased a new stake in Similarweb during the 4th quarter valued at $29,000. New York State Common Retirement Fund purchased a new stake in shares of Similarweb in the fourth quarter valued at $39,000. Public Employees Retirement System of Ohio bought a new stake in shares of Similarweb in the 3rd quarter worth about $70,000. Heck Capital Advisors LLC purchased a new position in shares of Similarweb during the 4th quarter worth about $115,000. Finally, Quantbot Technologies LP bought a new position in Similarweb during the 3rd quarter valued at about $75,000. 57.59% of the stock is owned by institutional investors.

Similarweb Trading Up 2.7 %

The company has a market capitalization of $1.35 billion, a PE ratio of -151.35 and a beta of 0.99. The stock’s 50-day moving average is $14.38 and its two-hundred day moving average is $10.77.

Similarweb (NYSE:SMWB) last released its earnings results on Tuesday, November 12th. The company reported ($0.03) earnings per share for the quarter, missing analysts’ consensus estimates of $0.04 by ($0.07). The business had revenue of $64.71 million during the quarter, compared to analysts’ expectations 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 quarter in the previous year, the business earned ($0.05) EPS. On average, equities research analysts forecast that Similarweb Ltd. will post -0.05 EPS 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.