Similarweb (NYSE:SMWB) Receives New Coverage from Analysts at Needham & Company LLC

Needham & Company LLC started coverage on shares of Similarweb (NYSE:SMWB) in a report published on Monday morning, MarketBeat.com reports. The brokerage issued a buy rating and a $11.00 price target on the stock.

Several other equities analysts have also recently weighed in on SMWB. Northland Capmk raised shares of Similarweb to a “strong-buy” rating in a research note on Tuesday, September 10th. Cantor Fitzgerald restated an “overweight” rating and set a $10.00 price objective on shares of Similarweb in a research note on Wednesday, August 7th. JMP Securities lifted their price target on Similarweb from $14.00 to $16.00 and gave the stock a “market outperform” rating in a report on Wednesday, August 21st. William Blair restated an “outperform” rating on shares of Similarweb in a research note on Monday, September 9th. Finally, 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. Eight investment 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 company currently has a consensus rating of “Buy” and an average price target of $11.71.

Similarweb Trading Down 1.1 %

Similarweb stock opened at $8.63 on Monday. Similarweb has a 1-year low of $4.58 and a 1-year high of $9.76. The company has a fifty day simple moving average of $8.83 and a 200 day simple moving average of $7.94. The company has a market cap of $698.34 million, a P/E ratio of -61.64 and a beta of 0.84.

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

Institutional Trading of Similarweb

Several hedge funds and other institutional investors have recently bought and sold shares of the business. Russell Investments Group Ltd. bought a new position in shares of Similarweb during the first quarter worth approximately $2,820,000. Oppenheimer & Co. Inc. acquired a new stake in Similarweb during the first quarter worth approximately $654,000. Acadian Asset Management LLC increased its stake in Similarweb by 3,663.6% during the 1st quarter. Acadian Asset Management LLC now owns 275,417 shares of the company’s stock worth $2,468,000 after acquiring an additional 268,099 shares during the period. Inspire Investing LLC acquired a new position in Similarweb in the 3rd quarter valued at $886,000. Finally, Scalar Gauge Management LLC lifted its position in shares of Similarweb by 56.8% during the 2nd quarter. Scalar Gauge Management LLC now owns 593,923 shares of the company’s stock valued at $4,615,000 after acquiring an additional 215,221 shares during the period. Institutional investors and hedge funds own 57.59% of the company’s stock.

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.