Similarweb (NYSE:SMWB) Sets New 12-Month High – Still a Buy?

Shares of Similarweb Ltd. (NYSE:SMWB) reached a new 52-week high during trading on Monday . The stock traded as high as $14.88 and last traded at $14.83, with a volume of 498922 shares changing hands. The stock had previously closed at $14.51.

Wall Street Analyst Weigh In

A number of brokerages have weighed in on SMWB. JMP Securities reissued a “market outperform” rating and set a $17.00 price target on shares of Similarweb in a research note on Wednesday, December 11th. Northland Capmk raised shares of Similarweb to a “strong-buy” rating in a research report on Tuesday, September 10th. Needham & Company LLC reissued a “buy” rating and issued a $14.00 target price on shares of Similarweb in a report on Wednesday, December 11th. The Goldman Sachs Group initiated coverage on shares of Similarweb in a research report on Wednesday, December 11th. They issued a “buy” rating and a $16.00 price objective on the stock. Finally, Citigroup raised their target price on Similarweb from $10.00 to $14.00 and gave the company a “buy” rating in a research report on Thursday, November 14th. Nine research analysts have rated the stock with a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, the stock currently has an average rating of “Buy” and an average price target of $13.50.

Similarweb Stock Up 2.2 %

The company’s fifty day moving average price is $12.20 and its two-hundred day moving average price is $9.53. The company has a market cap of $1.20 billion, a price-to-earnings ratio of -134.82 and a beta of 0.97.

Institutional Investors Weigh In On Similarweb

Several large investors have recently modified their holdings of SMWB. Public Employees Retirement System of Ohio bought a new position in Similarweb in the third quarter valued at approximately $70,000. Quantbot Technologies LP bought a new position in shares of Similarweb during the 3rd quarter worth approximately $75,000. State of New Jersey Common Pension Fund D bought a new stake in Similarweb in the 3rd quarter valued at $122,000. Barclays PLC increased its holdings in shares of 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 purchasing an additional 10,293 shares during the last quarter. Finally, Verition Fund Management LLC acquired a new stake in shares of Similarweb during the 3rd quarter worth about $160,000. 57.59% of the stock is currently owned by institutional investors.

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.