Similarweb’s (SMWB) “Buy” Rating Reiterated at Needham & Company LLC

Similarweb (NYSE:SMWB)‘s stock had its “buy” rating reissued by equities research analysts at Needham & Company LLC in a research report issued on Wednesday,Benzinga reports. They presently have a $14.00 target price on the stock. Needham & Company LLC’s price objective indicates a potential upside of 14.75% from the stock’s previous close.

Several other analysts also recently weighed in on SMWB. Northland Securities increased their target price on Similarweb from $15.00 to $17.00 and gave the company an “outperform” rating in a research note on Tuesday, November 26th. Northland Capmk upgraded Similarweb to a “strong-buy” rating in a report on Tuesday, September 10th. JMP Securities raised their price objective on shares of Similarweb from $16.00 to $17.00 and gave the stock a “market outperform” rating in a research note on Thursday, November 14th. Citigroup boosted their target price on shares of Similarweb from $10.00 to $14.00 and gave the stock a “buy” rating in a research report on Thursday, November 14th. Finally, William Blair reissued an “outperform” rating on shares of Similarweb in a report on Monday, September 9th. Nine equities research analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of “Buy” and an average target price of $13.50.

Similarweb Trading Down 1.6 %

NYSE SMWB opened at $12.20 on Wednesday. The company has a market cap of $987.21 million, a P/E ratio of -110.91 and a beta of 1.03. Similarweb has a 1 year low of $4.91 and a 1 year high of $13.41. The company has a fifty day simple moving average of $10.33 and a 200 day simple moving average of $8.74.

Institutional Trading of Similarweb

Several institutional investors have recently made changes to their positions in the business. P.A.W. Capital Corp acquired a new position in Similarweb in the third quarter worth about $3,536,000. Scalar Gauge Management LLC grew its stake in shares of Similarweb by 45.5% in the 3rd quarter. Scalar Gauge Management LLC now owns 863,923 shares of the company’s stock valued at $7,637,000 after purchasing an additional 270,000 shares during the period. Connor Clark & Lunn Investment Management Ltd. raised its holdings in shares of Similarweb by 112.7% in 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 in the last quarter. Walleye Capital LLC lifted its position in shares of Similarweb by 115.9% during the 3rd quarter. Walleye Capital LLC now owns 354,653 shares of the company’s stock worth $3,135,000 after buying an additional 190,380 shares during the period. Finally, Acadian Asset Management LLC boosted its stake in Similarweb by 60.8% in the 2nd quarter. Acadian Asset Management LLC now owns 442,917 shares of the company’s stock valued at $3,427,000 after buying an additional 167,500 shares in the last quarter. 57.59% of the stock is currently owned by institutional investors and hedge funds.

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.