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

Similarweb Ltd. (NYSE:SMWB) has been assigned a consensus rating of “Buy” from the six research firms that are presently covering the stock, Marketbeat reports. Six equities research analysts have rated the stock with a buy recommendation. The average 1-year price target among brokerages that have updated their coverage on the stock in the last year is $10.60.

A number of equities analysts have commented on SMWB shares. JMP Securities reaffirmed a “market outperform” rating and set a $14.00 target price on shares of Similarweb in a research note on Friday, March 15th. Jefferies Financial Group reiterated a “buy” rating and issued a $10.00 price objective on shares of Similarweb in a research report on Wednesday, February 7th. William Blair restated an “outperform” rating on shares of Similarweb in a research report on Tuesday, March 5th. Barclays raised their price objective on Similarweb from $8.00 to $9.00 and gave the stock an “overweight” rating in a research report on Thursday, February 15th. Finally, Citigroup raised shares of Similarweb from a “neutral” rating to a “buy” rating and upped their target price for the company from $6.00 to $10.00 in a research report on Thursday, February 15th.

Institutional Trading of Similarweb

A number of institutional investors and hedge funds have recently bought and sold shares of the business. Y.D. More Investments Ltd acquired a new position in Similarweb during the 3rd quarter worth $8,960,000. Essex Investment Management Co. LLC acquired a new position in shares of Similarweb during the first quarter worth about $2,344,000. Scalar Gauge Management LLC purchased a new stake in shares of Similarweb during the fourth quarter worth approximately $1,188,000. Circumference Group LLC acquired a new stake in Similarweb in the fourth quarter valued at approximately $725,000. Finally, Swiss National Bank purchased a new position in Similarweb in the third quarter worth approximately $391,000. 57.59% of the stock is currently owned by hedge funds and other institutional investors.

Similarweb Price Performance

SMWB stock opened at $7.50 on Tuesday. Similarweb has a 1 year low of $4.58 and a 1 year high of $9.76. The firm has a market capitalization of $589.88 million, a PE ratio of -20.27 and a beta of 0.75. The business has a 50 day simple moving average of $8.45 and a 200-day simple moving average of $6.64.

Similarweb (NYSE:SMWB) last issued its earnings results on Tuesday, February 13th. The company reported ($0.04) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.05) by $0.01. Similarweb had a negative return on equity of 203.38% and a negative net margin of 13.47%. The company had revenue of $56.76 million during the quarter, compared to analysts’ expectations of $55.90 million. On average, equities research analysts expect that Similarweb will post -0.2 EPS for the current year.

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.