Similarweb (NYSE:SMWB) Price Target Raised to $14.00 at Needham & Company LLC

Similarweb (NYSE:SMWB) had its target price hoisted by Needham & Company LLC from $11.00 to $14.00 in a research note issued to investors on Thursday,Benzinga reports. Needham & Company LLC currently has a buy rating on the stock.

Other equities analysts have also recently issued research reports about the company. JMP Securities boosted their price target on Similarweb from $14.00 to $16.00 and gave the company a “market outperform” rating in a research report on Wednesday, August 21st. Cantor Fitzgerald reiterated an “overweight” rating and set a $10.00 target price on shares of Similarweb in a research report on Wednesday, August 7th. Northland Capmk upgraded Similarweb to a “strong-buy” rating in a research report on Tuesday, September 10th. Northland Securities started coverage on Similarweb in a research note on Tuesday, September 10th. They set an “outperform” rating and a $15.00 price target on the stock. Finally, Barclays increased their price target on Similarweb from $9.00 to $10.00 and gave the stock an “overweight” rating in a research note on Thursday, August 8th. Eight investment analysts have rated the stock with a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, Similarweb has an average rating of “Buy” and an average target price of $12.86.

Similarweb Price Performance

Shares of NYSE SMWB opened at $11.51 on Thursday. Similarweb has a 1 year low of $4.58 and a 1 year high of $11.95. The company has a market capitalization of $931.39 million, a price-to-earnings ratio of -104.64 and a beta of 0.84. The business has a 50-day moving average of $9.07 and a two-hundred day moving average of $8.16.

Hedge Funds Weigh In On Similarweb

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Barclays PLC lifted its stake in shares of Similarweb by 201.0% in the 3rd quarter. Barclays PLC now owns 15,414 shares of the company’s stock valued at $136,000 after purchasing an additional 10,293 shares during the last quarter. Public Employees Retirement System of Ohio bought a new position in shares of Similarweb during the 3rd quarter worth about $70,000. XTX Topco Ltd increased its holdings in shares of Similarweb by 9.0% during the 3rd quarter. XTX Topco Ltd now owns 53,980 shares of the company’s stock worth $477,000 after purchasing an additional 4,453 shares during the period. State Street Corp increased its holdings in shares of Similarweb by 32.5% during the 3rd quarter. State Street Corp now owns 187,919 shares of the company’s stock worth $1,661,000 after purchasing an additional 46,102 shares during the period. Finally, Centiva Capital LP acquired a new stake in shares of Similarweb during the 3rd quarter valued at about $212,000. Institutional investors and hedge funds own 57.59% of the company’s stock.

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.