Similarweb (NYSE:SMWB) Price Target Raised to $14.00

Similarweb (NYSE:SMWB) had its price objective raised by analysts at Needham & Company LLC from $11.00 to $14.00 in a research note issued to investors on Thursday,Benzinga reports. The firm currently has a “buy” rating on the stock. Needham & Company LLC’s price objective would indicate a potential upside of 25.90% from the stock’s previous close.

A number of other analysts also recently commented on SMWB. Cantor Fitzgerald reissued an “overweight” rating and issued a $10.00 price objective on shares of Similarweb in a research note on Wednesday, August 7th. William Blair reissued an “outperform” rating on shares of Similarweb in a report on Monday, September 9th. Northland Securities began coverage on shares of Similarweb in a research note on Tuesday, September 10th. They issued an “outperform” rating and a $15.00 price objective on the stock. JMP Securities raised their target price on shares of Similarweb from $14.00 to $16.00 and gave the stock a “market outperform” rating in a report on Wednesday, August 21st. Finally, Barclays upped their price target on Similarweb from $9.00 to $10.00 and gave the company an “overweight” rating in a report on Thursday, August 8th. Eight equities research analysts have rated the stock with a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock has an average rating of “Buy” and a consensus price target of $12.14.

Similarweb Price Performance

NYSE SMWB opened at $11.12 on Thursday. The firm has a market capitalization of $899.83 million, a PE ratio of -101.09 and a beta of 0.84. Similarweb has a 12 month low of $4.58 and a 12 month high of $11.27. The company’s 50 day simple moving average is $8.96 and its 200 day simple moving average is $8.09.

Hedge Funds Weigh In On Similarweb

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Russell Investments Group Ltd. purchased a new stake in Similarweb in the 1st quarter worth about $2,820,000. Blair William & Co. IL grew its stake in Similarweb by 20.1% in the first quarter. Blair William & Co. IL now owns 21,662 shares of the company’s stock valued at $195,000 after purchasing an additional 3,621 shares in the last quarter. Acadian Asset Management LLC raised its stake in shares of Similarweb by 3,663.6% during the 1st quarter. Acadian Asset Management LLC now owns 275,417 shares of the company’s stock worth $2,468,000 after purchasing an additional 268,099 shares in the last quarter. Roubaix Capital LLC bought a new position in Similarweb during the first quarter valued at approximately $2,449,000. Finally, Quadrature Capital Ltd bought a new position in shares of Similarweb during the 1st quarter valued at $311,000. Institutional investors and hedge funds 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.