The Goldman Sachs Group Issues Pessimistic Forecast for Similarweb (NYSE:SMWB) Stock Price

Similarweb (NYSE:SMWB) had its target price dropped by equities researchers at The Goldman Sachs Group from $15.00 to $13.00 in a research note issued on Friday,Benzinga reports. The brokerage presently has a “buy” rating on the stock. The Goldman Sachs Group’s price target would suggest a potential upside of 54.98% from the company’s current price.

Other equities research analysts have also recently issued reports about the company. Northland Securities upped their target price on Similarweb from $17.00 to $20.00 and gave the stock an “outperform” rating in a report on Friday, January 24th. JMP Securities reiterated a “market outperform” rating and set a $17.00 target price on shares of Similarweb in a report on Thursday, February 13th. William Blair reissued an “outperform” rating on shares of Similarweb in a research report on Thursday, December 19th. Needham & Company LLC reaffirmed a “buy” rating and issued a $14.00 price target on shares of Similarweb in a research report on Thursday, February 13th. Finally, Jefferies Financial Group lifted their price objective on shares of Similarweb from $13.00 to $23.00 and gave the company a “buy” rating in a report on Monday, February 3rd. Nine investment analysts have rated the stock with a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of “Buy” and an average price target of $16.13.

Similarweb Trading Down 2.4 %

NYSE SMWB opened at $8.39 on Friday. The stock has a market cap of $693.01 million, a PE ratio of -59.91 and a beta of 1.08. Similarweb has a 12 month low of $5.71 and a 12 month high of $17.64. The company’s 50-day moving average price is $11.87 and its 200-day moving average price is $11.49.

Similarweb (NYSE:SMWB) last issued its earnings results on Tuesday, February 11th. The company reported ($0.07) EPS for the quarter, missing analysts’ consensus estimates 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, sell-side analysts forecast that Similarweb will post -0.24 earnings per share for the current year.

Institutional Investors Weigh In On Similarweb

Several institutional investors have recently bought and sold shares of SMWB. Jennison Associates LLC purchased a new stake in shares of Similarweb during the 4th quarter valued at $26,059,000. Schonfeld Strategic Advisors LLC purchased a new stake in Similarweb in the fourth quarter valued at about $22,536,000. T. Rowe Price Investment Management Inc. acquired a new stake in Similarweb in the fourth quarter worth about $9,563,000. Victory Capital Management Inc. purchased a new stake in shares of Similarweb during the fourth quarter worth about $6,090,000. Finally, Next Century Growth Investors LLC increased its holdings in shares of Similarweb by 146.7% during the fourth quarter. Next Century Growth Investors LLC now owns 699,128 shares of the company’s stock valued at $9,907,000 after acquiring an additional 415,792 shares in the last quarter. 57.59% of the stock is currently owned by institutional investors and hedge funds.

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.