Similarweb (NYSE:SMWB) Price Target Raised to $14.00

Similarweb (NYSE:SMWB) had its target price hoisted by Needham & Company LLC from $11.00 to $14.00 in a research note released on Thursday morning,Benzinga reports. Needham & Company LLC currently has a buy rating on the stock.

SMWB has been the topic of a number of other reports. Northland Capmk upgraded Similarweb to a “strong-buy” rating in a research report on Tuesday, September 10th. JMP Securities boosted their target price on Similarweb from $14.00 to $16.00 and gave the stock a “market outperform” rating in a report on Wednesday, August 21st. Northland Securities assumed coverage on Similarweb in a report on Tuesday, September 10th. They issued an “outperform” rating and a $15.00 target price on the stock. William Blair reiterated an “outperform” rating on shares of Similarweb in a research report on Monday, September 9th. Finally, Barclays boosted their price target on Similarweb from $9.00 to $10.00 and gave the company an “overweight” rating in a report on Thursday, August 8th. Eight analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, Similarweb has an average rating of “Buy” and an average target price of $12.86.

Similarweb Price Performance

Shares of NYSE SMWB opened at $11.51 on Thursday. The stock’s 50-day moving average is $9.07 and its 200 day moving average is $8.15. Similarweb has a 1-year low of $4.58 and a 1-year high of $11.95.

Institutional Investors Weigh In On Similarweb

Hedge funds and other institutional investors have recently modified their holdings of the business. Cubist Systematic Strategies LLC increased its holdings in Similarweb by 4.4% during the 2nd quarter. Cubist Systematic Strategies LLC now owns 51,272 shares of the company’s stock worth $398,000 after purchasing an additional 2,138 shares during the period. California State Teachers Retirement System boosted its position in shares of Similarweb by 10.1% in the 1st quarter. California State Teachers Retirement System now owns 26,892 shares of the company’s stock worth $242,000 after purchasing an additional 2,475 shares in the last quarter. Blair William & Co. IL boosted its position in shares of Similarweb by 20.1% in the 1st quarter. Blair William & Co. IL now owns 21,662 shares of the company’s stock worth $195,000 after purchasing an additional 3,621 shares in the last quarter. XTX Topco Ltd boosted its position in shares of Similarweb by 9.0% in the 3rd quarter. XTX Topco Ltd now owns 53,980 shares of the company’s stock worth $477,000 after purchasing an additional 4,453 shares in the last quarter. Finally, Legato Capital Management LLC boosted its position in shares of Similarweb by 4.5% in the 2nd quarter. Legato Capital Management LLC now owns 102,987 shares of the company’s stock worth $800,000 after purchasing an additional 4,455 shares in the last quarter. 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.