Similarweb (NYSE:SMWB) Stock Price Up 5.1% on Analyst Upgrade

Shares of Similarweb Ltd. (NYSE:SMWB) traded up 5.1% during trading on Monday after Jefferies Financial Group raised their price target on the stock from $13.00 to $23.00. Jefferies Financial Group currently has a buy rating on the stock. Similarweb traded as high as $16.98 and last traded at $17.03. 241,526 shares were traded during mid-day trading, a decline of 62% from the average session volume of 627,399 shares. The stock had previously closed at $16.21.

Several other analysts also recently commented on SMWB. The Goldman Sachs Group initiated coverage on Similarweb in a research note on Wednesday, December 11th. They issued a “buy” rating and a $16.00 target price for the company. Citigroup boosted their price objective on Similarweb from $10.00 to $14.00 and gave the company a “buy” rating in a report on Thursday, November 14th. Needham & Company LLC reaffirmed a “buy” rating and set a $14.00 target price on shares of Similarweb in a research report on Thursday, January 16th. Northland Securities lifted their price target on shares of Similarweb from $17.00 to $20.00 and gave the company an “outperform” rating in a research report on Friday, January 24th. Finally, JMP Securities restated a “market outperform” rating and set a $17.00 price target on shares of Similarweb in a research note on Wednesday, December 11th. Nine research analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of “Buy” and an average target price of $15.50.

Hedge Funds Weigh In On Similarweb

Several hedge funds have recently made changes to their positions in the stock. Global Retirement Partners LLC bought a new position in Similarweb in the 4th quarter worth about $29,000. New York State Common Retirement Fund purchased a new position in shares of Similarweb during the fourth quarter worth about $39,000. Public Employees Retirement System of Ohio purchased a new stake in Similarweb in the third quarter valued at approximately $70,000. Heck Capital Advisors LLC purchased a new stake in Similarweb in the fourth quarter valued at approximately $115,000. Finally, Quantbot Technologies LP purchased a new position in Similarweb in the 3rd quarter worth approximately $75,000. 57.59% of the stock is currently owned by hedge funds and other institutional investors.

Similarweb Trading Up 4.2 %

The stock’s fifty day moving average price is $14.30 and its 200 day moving average price is $10.71. The stock has a market cap of $1.37 billion, a P/E ratio of -154.17 and a beta of 0.99.

Similarweb (NYSE:SMWB) last announced its quarterly earnings data on Tuesday, November 12th. The company reported ($0.03) EPS for the quarter, missing the consensus estimate of $0.04 by ($0.07). The firm had revenue of $64.71 million for the quarter, compared to the consensus estimate of $62.90 million. Similarweb had a negative net margin of 3.92% and a negative return on equity of 44.83%. During the same quarter last year, the company posted ($0.05) earnings per share. On average, analysts anticipate that Similarweb Ltd. will post -0.05 earnings per share for the current year.

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.