Similarweb (NYSE:SMWB) Hits New 52-Week High – Here’s What Happened

Similarweb Ltd. (NYSE:SMWB) hit a new 52-week high during mid-day trading on Tuesday . The company traded as high as $15.29 and last traded at $15.21, with a volume of 645677 shares trading hands. The stock had previously closed at $14.12.

Wall Street Analyst Weigh In

Several equities research analysts have commented on SMWB shares. Needham & Company LLC reissued a “buy” rating and issued a $14.00 target price on shares of Similarweb in a report on Thursday. William Blair reiterated an “outperform” rating on shares of Similarweb in a research note on Thursday, December 19th. The Goldman Sachs Group began coverage on Similarweb in a research report on Wednesday, December 11th. They set a “buy” rating and a $16.00 target price on the stock. Citigroup upped their price objective on Similarweb from $10.00 to $14.00 and gave the stock a “buy” rating in a research note on Thursday, November 14th. Finally, Northland Securities upped their price objective on Similarweb from $15.00 to $17.00 and gave the stock an “outperform” rating in a report on Tuesday, November 26th. Nine equities research analysts have rated the stock with a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, Similarweb has an average rating of “Buy” and an average target price of $13.50.

Similarweb Trading Down 1.9 %

The stock’s 50 day moving average price is $13.17 and its 200 day moving average price is $9.92. The company has a market cap of $1.28 billion, a price-to-earnings ratio of -143.38 and a beta of 0.97.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently bought and sold shares of the company. International Assets Investment Management LLC bought a new position in shares of Similarweb during the 4th quarter valued at about $154,000. JPMorgan Chase & Co. lifted its stake in shares of Similarweb by 147.4% in the 3rd quarter. JPMorgan Chase & Co. now owns 171,539 shares of the company’s stock valued at $1,516,000 after purchasing an additional 102,192 shares during the last quarter. Barclays PLC increased its position in Similarweb by 201.0% during the third 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 bought a new position in shares of Similarweb in the 3rd quarter valued at approximately $70,000. Finally, XTX Topco Ltd lifted its stake in shares of Similarweb by 9.0% in the third quarter. XTX Topco Ltd now owns 53,980 shares of the company’s stock worth $477,000 after buying an additional 4,453 shares during the last quarter. Institutional investors own 57.59% of the company’s stock.

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.