JMP Securities Reaffirms Market Outperform Rating for Similarweb (NYSE:SMWB)

JMP Securities reiterated their market outperform rating on shares of Similarweb (NYSE:SMWB) in a report released on Thursday morning,Benzinga reports. JMP Securities currently has a $17.00 target price on the stock.

A number of other brokerages also recently issued reports on SMWB. William Blair reaffirmed an “outperform” rating on shares of Similarweb in a research report on Thursday, December 19th. The Goldman Sachs Group began coverage on shares of Similarweb in a report on Wednesday, December 11th. They issued a “buy” rating and a $16.00 price target on the stock. Needham & Company LLC reiterated a “buy” rating and set a $14.00 price objective on shares of Similarweb in a report on Thursday. Northland Securities boosted their target price on Similarweb from $17.00 to $20.00 and gave the stock an “outperform” rating in a research note on Friday, January 24th. Finally, Jefferies Financial Group increased their price target on Similarweb from $13.00 to $23.00 and gave the company a “buy” rating in a research note on Monday, February 3rd. Nine research analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, the stock currently has an average rating of “Buy” and a consensus price target of $16.50.

Similarweb Stock Up 2.2 %

Shares of NYSE:SMWB opened at $10.83 on Thursday. The company has a market capitalization of $875.96 million, a price-to-earnings ratio of -98.41 and a beta of 0.99. The firm has a 50 day moving average of $14.83 and a 200 day moving average of $11.28. Similarweb has a 52 week low of $5.71 and a 52 week high of $17.64.

Similarweb (NYSE:SMWB) last issued its quarterly earnings data on Tuesday, February 11th. The company reported ($0.07) earnings per share 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 expect that Similarweb will post -0.05 EPS for the current year.

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of SMWB. Global Retirement Partners LLC acquired a new position in Similarweb in the 4th quarter worth approximately $29,000. New York State Common Retirement Fund acquired a new stake in shares of Similarweb in the fourth quarter worth $39,000. Public Employees Retirement System of Ohio purchased a new position in shares of Similarweb during the third quarter worth $70,000. KLP Kapitalforvaltning AS acquired a new position in Similarweb during the fourth quarter valued at $115,000. Finally, Heck Capital Advisors LLC purchased a new stake in Similarweb in the fourth quarter valued at $115,000. 57.59% of the stock is currently 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.