Similarweb (NYSE:SMWB) Price Target Raised to $14.00 at Citigroup

Similarweb (NYSE:SMWB) had its price target raised by Citigroup from $10.00 to $14.00 in a research report released on Thursday,Benzinga reports. They currently have a buy rating on the stock.

Several other brokerages have also issued reports on SMWB. Northland Capmk upgraded shares of Similarweb to a “strong-buy” rating in a research report on Tuesday, September 10th. Barclays upped their target price on Similarweb from $9.00 to $10.00 and gave the stock an “overweight” rating in a research note on Thursday, August 8th. JMP Securities boosted their price objective on shares of Similarweb from $16.00 to $17.00 and gave the stock a “market outperform” rating in a report on Thursday. Needham & Company LLC increased their target price on shares of Similarweb from $11.00 to $14.00 and gave the company a “buy” rating in a report on Thursday. Finally, Cantor Fitzgerald reissued an “overweight” rating and issued a $10.00 price target on shares of Similarweb in a research note on Wednesday, August 7th. Eight investment analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, Similarweb presently has a consensus rating of “Buy” and a consensus target price of $12.86.

Similarweb Price Performance

Shares of Similarweb stock opened at $11.51 on Thursday. Similarweb has a 1 year low of $4.58 and a 1 year high of $11.95. The firm has a market cap of $931.39 million, a PE ratio of -104.64 and a beta of 0.84. The company has a 50 day simple moving average of $9.07 and a two-hundred day simple moving average of $8.16.

Institutional Investors Weigh In On Similarweb

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