Similarweb (NYSE:SMWB) Sets New 52-Week High – Should You Buy?

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

Wall Street Analyst Weigh In

A number of research analysts have recently weighed in on the company. Needham & Company LLC reissued a “buy” rating and issued a $14.00 price objective on shares of Similarweb in a report on Wednesday, December 11th. The Goldman Sachs Group began coverage on Similarweb in a research report on Wednesday, December 11th. They issued a “buy” rating and a $16.00 target price on the stock. JMP Securities reiterated a “market outperform” rating and set a $17.00 price target on shares of Similarweb in a report on Wednesday, December 11th. William Blair reissued an “outperform” rating on shares of Similarweb in a research report on Thursday, December 19th. Finally, Northland Securities lifted their target price on Similarweb from $15.00 to $17.00 and gave the company an “outperform” rating in a research report on Tuesday, November 26th. Nine research analysts have rated the stock with a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of “Buy” and a consensus price target of $13.50.

Similarweb Trading Up 7.2 %

The stock’s 50 day moving average price is $12.90 and its two-hundred day moving average price is $9.83. The firm has a market capitalization of $1.22 billion, a price-to-earnings ratio of -137.55 and a beta of 0.97.

Institutional Trading of Similarweb

Institutional investors and hedge funds have recently made changes to their positions in the company. Public Employees Retirement System of Ohio bought a new stake in shares of Similarweb during the 3rd quarter valued at about $70,000. Quantbot Technologies LP acquired a new stake 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 shares of Similarweb in the 3rd quarter worth approximately $122,000. Barclays PLC boosted its position 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 purchasing an additional 10,293 shares during the period. Finally, International Assets Investment Management LLC bought a new position in Similarweb during the 4th quarter worth $154,000. 57.59% of the stock is currently owned by institutional investors and hedge funds.

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.