Similarweb’s (SMWB) Buy Rating Reaffirmed at Needham & Company LLC

Needham & Company LLC reissued their buy rating on shares of Similarweb (NYSE:SMWB) in a research note published on Thursday,Benzinga reports. They currently have a $14.00 price objective on the stock.

A number of other analysts have also weighed in on the stock. Jefferies Financial Group upped their target price on shares of Similarweb from $13.00 to $23.00 and gave the stock a “buy” rating in a report on Monday, February 3rd. Citigroup increased their price objective on Similarweb from $14.00 to $22.00 and gave the stock a “buy” rating in a research report on Tuesday. Northland Securities boosted their target price on Similarweb from $17.00 to $20.00 and gave the stock an “outperform” rating in a research report on Friday, January 24th. JMP Securities restated a “market outperform” rating and issued a $17.00 target price on shares of Similarweb in a research note on Wednesday, December 11th. Finally, William Blair reiterated an “outperform” rating on shares of Similarweb in a research report on Thursday, December 19th. 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, the company presently has an average rating of “Buy” and a consensus target price of $16.50.

Similarweb Stock Down 10.6 %

Similarweb stock opened at $10.62 on Thursday. Similarweb has a one year low of $5.71 and a one year high of $17.64. The business has a fifty day moving average price of $14.87 and a 200-day moving average price of $11.21.

Similarweb (NYSE:SMWB) last issued its earnings results on Tuesday, February 11th. The company reported ($0.07) EPS for the quarter, missing the consensus estimate 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, research analysts predict that Similarweb will post -0.05 EPS for the current fiscal year.

Institutional Inflows and Outflows

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

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.