JMP Securities Raises Similarweb (NYSE:SMWB) Price Target to $17.00

Similarweb (NYSE:SMWB) had its target price hoisted by analysts at JMP Securities from $16.00 to $17.00 in a research note issued to investors on Thursday,Benzinga reports. The brokerage presently has a “market outperform” rating on the stock. JMP Securities’ price target suggests a potential upside of 47.70% from the company’s current price.

A number of other equities research analysts have also issued reports on SMWB. Northland Capmk raised shares of Similarweb to a “strong-buy” rating in a report on Tuesday, September 10th. 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. William Blair restated an “outperform” rating on shares of Similarweb in a report on Monday, September 9th. Northland Securities started coverage on Similarweb in a research report on Tuesday, September 10th. They set an “outperform” rating and a $15.00 target price for the company. Finally, Needham & Company LLC upped their price target on shares of Similarweb from $11.00 to $14.00 and gave the company a “buy” rating in a research note on Thursday. Eight investment analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, Similarweb currently has a consensus rating of “Buy” and a consensus target price of $12.86.

Similarweb Stock Down 2.9 %

Shares of Similarweb stock opened at $11.51 on Thursday. Similarweb has a 52 week low of $4.58 and a 52 week high of $11.95. The stock’s 50-day simple moving average is $9.07 and its 200-day simple moving average is $8.14. The company has a market capitalization of $931.38 million, a price-to-earnings ratio of -104.64 and a beta of 0.84.

Institutional Inflows and Outflows

Hedge funds have recently bought and sold shares of the company. Russell Investments Group Ltd. bought a new position in Similarweb during the 1st quarter valued at about $2,820,000. Acadian Asset Management LLC grew its stake in shares of Similarweb by 3,663.6% during the first quarter. Acadian Asset Management LLC now owns 275,417 shares of the company’s stock valued at $2,468,000 after buying an additional 268,099 shares during the last quarter. Inspire Investing LLC bought a new stake in shares of Similarweb during the 3rd quarter worth approximately $886,000. Scalar Gauge Management LLC boosted its holdings in Similarweb by 56.8% during the 2nd quarter. Scalar Gauge Management LLC now owns 593,923 shares of the company’s stock valued at $4,615,000 after acquiring an additional 215,221 shares during the period. Finally, Cubist Systematic Strategies LLC grew its position in Similarweb by 4.4% in the 2nd quarter. Cubist Systematic Strategies LLC now owns 51,272 shares of the company’s stock valued at $398,000 after acquiring an additional 2,138 shares during the last quarter. 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.