Similarweb (NYSE:SMWB) Sets New 1-Year High – Should You Buy?

Similarweb Ltd. (NYSE:SMWB)’s stock price hit a new 52-week high during mid-day trading on Wednesday . The stock traded as high as $14.11 and last traded at $14.04, with a volume of 136530 shares. The stock had previously closed at $13.48.

Analyst Upgrades and Downgrades

A number of brokerages have issued reports on SMWB. Needham & Company LLC reaffirmed 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 began coverage on Similarweb in a report on Wednesday, December 11th. They issued a “buy” rating and a $16.00 price target on the stock. JMP Securities restated a “market outperform” rating and set a $17.00 price target on shares of Similarweb in a report on Wednesday, December 11th. Northland Capmk upgraded Similarweb to a “strong-buy” rating in a research note on Tuesday, September 10th. Finally, Northland Securities increased their price target on Similarweb from $15.00 to $17.00 and gave the stock an “outperform” rating in a research note on Tuesday, November 26th. Nine analysts have rated the stock with a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat.com, Similarweb presently has an average rating of “Buy” and a consensus target price of $13.50.

Similarweb Stock Performance

The stock has a market capitalization of $1.14 billion, a PE ratio of -127.91 and a beta of 1.03. The business’s 50-day moving average price is $11.00 and its 200 day moving average price is $8.99.

Institutional Trading of Similarweb

Several hedge funds and other institutional investors have recently bought and sold shares of the stock. Public Employees Retirement System of Ohio purchased a new position in shares of Similarweb in the third quarter valued at about $70,000. Quantbot Technologies LP purchased a new stake in shares of Similarweb during the third quarter valued at approximately $75,000. ANTIPODES PARTNERS Ltd increased its position in shares of Similarweb by 122.5% during the 2nd quarter. ANTIPODES PARTNERS Ltd now owns 11,580 shares of the company’s stock valued at $90,000 after purchasing an additional 6,376 shares during the last quarter. State of New Jersey Common Pension Fund D bought a new position in Similarweb in the 3rd quarter worth approximately $122,000. Finally, Barclays PLC grew its holdings in Similarweb by 201.0% during the 3rd quarter. Barclays PLC now owns 15,414 shares of the company’s stock valued at $136,000 after buying an additional 10,293 shares in 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.