Citigroup Issues Positive Forecast for Similarweb (NYSE:SMWB) Stock Price

Similarweb (NYSE:SMWB) had its target price lifted by Citigroup from $14.00 to $22.00 in a research report sent to investors on Tuesday,Benzinga reports. Citigroup currently has a buy rating on the stock.

Several other equities analysts also recently issued reports on SMWB. William Blair reiterated an “outperform” rating on shares of Similarweb in a research report on Thursday, December 19th. Jefferies Financial Group increased their price objective on shares of Similarweb from $13.00 to $23.00 and gave the stock a “buy” rating in a report on Monday, February 3rd. JMP Securities reissued a “market outperform” rating and set a $17.00 price target on shares of Similarweb in a research note on Wednesday, December 11th. Northland Securities boosted their price objective on shares of Similarweb from $17.00 to $20.00 and gave the stock an “outperform” rating in a research report on Friday, January 24th. Finally, Needham & Company LLC reiterated a “buy” rating and issued a $14.00 price objective on shares of Similarweb in a research report on Thursday, January 16th. Nine 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, Similarweb currently has an average rating of “Buy” and an average price target of $16.50.

Similarweb Stock Performance

Shares of SMWB stock opened at $16.73 on Tuesday. The firm has a fifty day moving average of $14.95 and a 200-day moving average of $11.21. The stock has a market cap of $1.35 billion, a price-to-earnings ratio of -152.11 and a beta of 0.99. Similarweb has a 52-week low of $5.71 and a 52-week high of $17.64.

Similarweb (NYSE:SMWB) last announced its quarterly earnings results on Tuesday, February 11th. The company reported ($0.07) EPS for the quarter, missing analysts’ consensus estimates of $0.03 by ($0.10). Similarweb had a negative return on equity of 44.83% and a negative net margin of 3.92%. On average, sell-side analysts predict that Similarweb will post -0.05 earnings per share for the current year.

Institutional Investors Weigh In On Similarweb

A number of institutional investors have recently made changes to their positions in SMWB. Connor Clark & Lunn Investment Management Ltd. grew its position in shares of Similarweb by 112.7% during the 3rd quarter. Connor Clark & Lunn Investment Management Ltd. now owns 449,896 shares of the company’s stock worth $3,977,000 after buying an additional 238,428 shares during the period. State Street Corp grew its holdings in Similarweb by 32.5% during the third quarter. State Street Corp now owns 187,919 shares of the company’s stock valued at $1,661,000 after purchasing an additional 46,102 shares during the period. Y.D. More Investments Ltd increased its stake in Similarweb by 6.3% in the fourth quarter. Y.D. More Investments Ltd now owns 1,449,634 shares of the company’s stock valued at $20,541,000 after purchasing an additional 86,500 shares in the last quarter. Inspire Investing LLC acquired a new stake in Similarweb in the third quarter worth $886,000. Finally, JPMorgan Chase & Co. boosted its position in shares of Similarweb by 147.4% during the third quarter. JPMorgan Chase & Co. now owns 171,539 shares of the company’s stock worth $1,516,000 after purchasing an additional 102,192 shares in the last quarter. 57.59% of the stock is 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.