Similarweb (NYSE:SMWB) Given New $10.00 Price Target at Barclays

Similarweb (NYSE:SMWB) had its target price boosted by Barclays from $9.00 to $10.00 in a research report sent to investors on Thursday morning, Benzinga reports. The firm currently has an overweight rating on the stock.

Separately, Cantor Fitzgerald restated an overweight rating and set a $10.00 price objective on shares of Similarweb in a research report on Wednesday. Seven research analysts have rated the stock with a buy rating, Based on data from MarketBeat, Similarweb presently has a consensus rating of Buy and an average target price of $10.67.

Similarweb Stock Performance

NYSE SMWB traded down $0.12 during trading hours on Thursday, hitting $7.80. The company had a trading volume of 183,640 shares, compared to its average volume of 163,815. The firm has a 50 day simple moving average of $7.21 and a 200 day simple moving average of $7.65. Similarweb has a 52 week low of $4.58 and a 52 week high of $9.76. The firm has a market capitalization of $613.48 million, a price-to-earnings ratio of -31.20 and a beta of 0.76.

Similarweb (NYSE:SMWB) last announced its quarterly earnings results on Tuesday, May 7th. The company reported ($0.03) EPS for the quarter, beating the consensus estimate of ($0.06) by $0.03. Similarweb had a negative net margin of 5.07% and a negative return on equity of 68.12%. The firm had revenue of $58.98 million during the quarter, compared to the consensus estimate of $58.77 million. On average, research analysts forecast that Similarweb will post -0.15 earnings per share for the current year.

Hedge Funds Weigh In On Similarweb

Several large investors have recently made changes to their positions in the business. Acadian Asset Management LLC raised its stake in Similarweb by 60.8% during the second quarter. Acadian Asset Management LLC now owns 442,917 shares of the company’s stock valued at $3,427,000 after buying an additional 167,500 shares during the last quarter. Russell Investments Group Ltd. purchased a new position in shares of Similarweb in the 1st quarter worth about $2,820,000. Roubaix Capital LLC bought a new position in Similarweb in the 1st quarter worth about $2,449,000. Essex Investment Management Co. LLC purchased a new stake in Similarweb during the 1st quarter valued at about $2,344,000. Finally, Ceera Investments LLC increased its stake in Similarweb by 38.3% during the 2nd quarter. Ceera Investments LLC now owns 259,827 shares of the company’s stock valued at $2,019,000 after purchasing an additional 71,994 shares in the last quarter. 57.59% of the stock is currently owned by hedge funds and other institutional investors.

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.