Northland Securities Issues Positive Forecast for Similarweb (NYSE:SMWB) Stock Price

Similarweb (NYSE:SMWB) had its target price lifted by stock analysts at Northland Securities from $15.00 to $17.00 in a research note issued on Tuesday,Benzinga reports. The brokerage currently has an “outperform” rating on the stock. Northland Securities’ price objective would indicate a potential upside of 32.61% from the stock’s current price.

A number of other analysts also recently weighed in on the company. JMP Securities increased their price objective on Similarweb from $16.00 to $17.00 and gave the company a “market outperform” rating in a report on Thursday, November 14th. Citigroup increased their price target on Similarweb from $10.00 to $14.00 and gave the company a “buy” rating in a research note on Thursday, November 14th. Needham & Company LLC lifted their price objective on Similarweb from $11.00 to $14.00 and gave the stock a “buy” rating in a research note on Thursday, November 14th. William Blair reiterated an “outperform” rating on shares of Similarweb in a report on Monday, September 9th. Finally, Barclays lifted their target price on Similarweb from $9.00 to $10.00 and gave the stock an “overweight” rating in a report on Thursday, August 8th. Eight investment analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, Similarweb has a consensus rating of “Buy” and a consensus target price of $13.14.

Similarweb Price Performance

SMWB opened at $12.82 on Tuesday. Similarweb has a fifty-two week low of $4.58 and a fifty-two week high of $12.99. The company’s 50 day moving average price is $9.47 and its two-hundred day moving average price is $8.37. The firm has a market capitalization of $1.04 billion, a price-to-earnings ratio of -116.55 and a beta of 0.84.

Institutional Inflows and Outflows

Several institutional investors have recently bought and sold shares of the business. Barclays PLC raised its stake in shares of Similarweb by 201.0% in 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 last quarter. Public Employees Retirement System of Ohio bought a new stake in shares of Similarweb in the 3rd quarter worth $70,000. XTX Topco Ltd raised its holdings in shares of Similarweb by 9.0% in the third quarter. XTX Topco Ltd now owns 53,980 shares of the company’s stock valued at $477,000 after purchasing an additional 4,453 shares during the last quarter. State Street Corp lifted its position in shares of Similarweb by 32.5% during the third quarter. State Street Corp now owns 187,919 shares of the company’s stock valued at $1,661,000 after purchasing an additional 46,102 shares in the last quarter. Finally, Centiva Capital LP purchased a new position in Similarweb during the third quarter worth 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.