Similarweb Ltd. (NYSE:SMWB) Receives Consensus Recommendation of “Buy” from Analysts

Shares of Similarweb Ltd. (NYSE:SMWB) have earned a consensus recommendation of “Buy” from the nine analysts that are covering the stock, Marketbeat Ratings reports. Eight equities research analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the company. The average 1-year target price among analysts that have issued ratings on the stock in the last year is $11.71.

Several research analysts have weighed in on SMWB shares. Needham & Company LLC assumed coverage on shares of Similarweb in a research report on Monday, October 21st. They set a “buy” rating and a $11.00 target price on the stock. William Blair restated an “outperform” rating on shares of Similarweb in a report on Monday, September 9th. Cantor Fitzgerald reaffirmed an “overweight” rating and set a $10.00 price objective on shares of Similarweb in a report on Wednesday, August 7th. Northland Capmk upgraded Similarweb to a “strong-buy” rating in a research report on Tuesday, September 10th. Finally, Barclays raised their price target on Similarweb from $9.00 to $10.00 and gave the company an “overweight” rating in a research report on Thursday, August 8th.

Institutional Trading of Similarweb

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in SMWB. Russell Investments Group Ltd. acquired a new stake in shares of Similarweb during the 1st quarter worth about $2,820,000. Roubaix Capital LLC acquired a new stake in Similarweb during the first quarter worth approximately $2,449,000. Acadian Asset Management LLC grew its stake in Similarweb by 3,663.6% in 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. Essex Investment Management Co. LLC acquired a new position in Similarweb in the 1st quarter valued at $2,344,000. Finally, Scalar Gauge Management LLC lifted its stake 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 worth $4,615,000 after purchasing an additional 215,221 shares during the period. Hedge funds and other institutional investors own 57.59% of the company’s stock.

Similarweb Trading Up 1.6 %

Shares of SMWB stock opened at $8.78 on Monday. The stock has a 50 day simple moving average of $8.85 and a 200-day simple moving average of $7.94. The company has a market cap of $690.56 million, a price-to-earnings ratio of -35.12 and a beta of 0.84. Similarweb has a 12-month low of $4.58 and a 12-month high of $9.76.

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

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.