Similarweb (NYSE:SMWB) Stock Price Expected to Rise, Citigroup Analyst Says

Similarweb (NYSE:SMWB) had its target price raised by stock analysts at Citigroup from $10.00 to $14.00 in a research note issued to investors on Thursday,Benzinga reports. The firm currently has a “buy” rating on the stock. Citigroup’s price objective suggests a potential upside of 21.63% from the company’s current price.

A number of other brokerages also recently weighed in on SMWB. Northland Securities assumed coverage on shares of Similarweb in a research note on Tuesday, September 10th. They set an “outperform” rating and a $15.00 target price for the company. Barclays boosted their target price on Similarweb from $9.00 to $10.00 and gave the stock an “overweight” rating in a report on Thursday, August 8th. William Blair reaffirmed an “outperform” rating on shares of Similarweb in a research report on Monday, September 9th. Cantor Fitzgerald reissued an “overweight” rating and set a $10.00 price objective on shares of Similarweb in a research report on Wednesday, August 7th. Finally, JMP Securities upped their target price on shares of Similarweb from $16.00 to $17.00 and gave the stock a “market outperform” rating in a research note on Thursday. Eight research analysts have rated the stock with a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of “Buy” and a consensus target price of $12.86.

Similarweb Stock Down 2.9 %

NYSE SMWB opened at $11.51 on Thursday. Similarweb has a twelve month low of $4.58 and a twelve month high of $11.95. The firm has a market capitalization of $931.38 million, a PE ratio of -104.64 and a beta of 0.84. The stock’s 50 day moving average is $9.07 and its 200 day moving average is $8.14.

Institutional Inflows and Outflows

Several hedge funds have recently made changes to their positions in SMWB. P.A.W. Capital Corp purchased a new position in Similarweb in the third quarter worth about $3,536,000. Russell Investments Group Ltd. purchased a new position in shares of Similarweb in the first quarter worth approximately $2,820,000. Roubaix Capital LLC purchased a new position in shares of Similarweb in the first quarter worth approximately $2,449,000. Scalar Gauge Management LLC grew its position in Similarweb by 45.5% during the third quarter. Scalar Gauge Management LLC now owns 863,923 shares of the company’s stock valued at $7,637,000 after buying an additional 270,000 shares during the period. Finally, Acadian Asset Management LLC increased its holdings in Similarweb by 3,663.6% during the first quarter. Acadian Asset Management LLC now owns 275,417 shares of the company’s stock valued at $2,468,000 after buying an additional 268,099 shares during the last quarter. 57.59% of the stock is owned by hedge funds and other 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.