Similarweb Ltd. (NYSE:SMWB) Receives Consensus Rating of “Buy” from Brokerages

Shares of Similarweb Ltd. (NYSE:SMWB) have earned a consensus rating of “Buy” from the nine brokerages that are covering the company, MarketBeat.com reports. Eight research analysts have rated the stock with a buy recommendation and one has assigned a strong buy recommendation to the company. The average twelve-month target price among brokerages that have issued ratings on the stock in the last year is $12.86.

SMWB has been the subject of several research analyst reports. Northland Capmk raised shares of Similarweb to a “strong-buy” rating in a research note on Tuesday, September 10th. William Blair reiterated an “outperform” rating on shares of Similarweb in a report on Monday, September 9th. Barclays boosted their price objective on Similarweb from $9.00 to $10.00 and gave the company an “overweight” rating in a report on Thursday, August 8th. Citigroup increased their target price on Similarweb from $10.00 to $14.00 and gave the stock a “buy” rating in a report on Thursday, November 14th. Finally, Northland Securities initiated coverage on shares of Similarweb in a research note on Tuesday, September 10th. They set an “outperform” rating and a $15.00 price target for the company.

Institutional Trading of Similarweb

Several institutional investors and hedge funds have recently made changes to their positions in the company. Public Employees Retirement System of Ohio purchased a new position in Similarweb in the third quarter worth $70,000. Quantbot Technologies LP bought a new position in Similarweb during the third quarter valued at about $75,000. ANTIPODES PARTNERS Ltd increased its holdings in Similarweb by 122.5% during the second quarter. ANTIPODES PARTNERS Ltd now owns 11,580 shares of the company’s stock worth $90,000 after buying an additional 6,376 shares during the last quarter. State of New Jersey Common Pension Fund D bought a new stake in Similarweb in the third quarter worth about $122,000. Finally, Barclays PLC boosted its stake in Similarweb by 201.0% in the third quarter. Barclays PLC now owns 15,414 shares of the company’s stock valued at $136,000 after acquiring an additional 10,293 shares during the last quarter. Hedge funds and other institutional investors own 57.59% of the company’s stock.

Similarweb Stock Up 2.2 %

Shares of SMWB stock opened at $12.50 on Friday. The firm has a 50 day moving average of $9.29 and a 200-day moving average of $8.28. The company has a market cap of $1.01 billion, a price-to-earnings ratio of -113.64 and a beta of 0.84. Similarweb has a 52 week low of $4.58 and a 52 week high of $12.72.

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.