The Goldman Sachs Group Initiates Coverage on Similarweb (NYSE:SMWB)

Analysts at The Goldman Sachs Group initiated coverage on shares of Similarweb (NYSE:SMWB) in a report released on Wednesday,Benzinga reports. The brokerage set a “buy” rating and a $16.00 price target on the stock. The Goldman Sachs Group’s price objective would suggest a potential upside of 31.15% from the stock’s previous close.

Several other equities research analysts have also recently weighed in on the stock. Needham & Company LLC restated a “buy” rating and issued a $14.00 price target on shares of Similarweb in a research report on Wednesday. Citigroup raised 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. William Blair reiterated an “outperform” rating on shares of Similarweb in a research note on Monday, September 9th. Northland Capmk raised Similarweb to a “strong-buy” rating in a report on Tuesday, September 10th. Finally, JMP Securities upped their price objective on shares of Similarweb from $16.00 to $17.00 and gave the company a “market outperform” rating in a report on Thursday, November 14th. Nine equities research analysts have rated the stock with a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, Similarweb presently has a consensus rating of “Buy” and an average price target of $13.50.

Similarweb Stock Performance

Shares of Similarweb stock opened at $12.20 on Wednesday. The stock’s fifty day moving average is $10.33 and its 200 day moving average is $8.74. The stock has a market cap of $987.21 million, a P/E ratio of -110.91 and a beta of 1.03. Similarweb has a one year low of $4.91 and a one year high of $13.41.

Institutional Investors Weigh In On Similarweb

Large investors have recently bought and sold shares of the company. Barclays PLC raised its position in Similarweb by 201.0% during the 3rd quarter. Barclays PLC now owns 15,414 shares of the company’s stock worth $136,000 after buying an additional 10,293 shares during the last quarter. Public Employees Retirement System of Ohio acquired a new stake in shares of Similarweb in the third quarter worth $70,000. XTX Topco Ltd raised its holdings in shares of Similarweb by 9.0% during the third quarter. XTX Topco Ltd now owns 53,980 shares of the company’s stock worth $477,000 after purchasing an additional 4,453 shares during the last quarter. State Street Corp lifted its holdings in shares of Similarweb by 32.5% in the 3rd quarter. State Street Corp now owns 187,919 shares of the company’s stock valued at $1,661,000 after buying an additional 46,102 shares during the period. Finally, Centiva Capital LP purchased a new stake in shares of Similarweb in the third quarter worth about $212,000. Hedge funds and other 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.