Similarweb (NYSE:SMWB) Hits New 52-Week High – Here’s What Happened

Shares of Similarweb Ltd. (NYSE:SMWB) reached a new 52-week high during trading on Wednesday . The stock traded as high as $14.11 and last traded at $14.04, with a volume of 136530 shares traded. The stock had previously closed at $13.48.

Wall Street Analyst Weigh In

A number of research firms have recently weighed in on SMWB. JMP Securities reaffirmed a “market outperform” rating and issued a $17.00 price target on shares of Similarweb in a research note on Wednesday, December 11th. The Goldman Sachs Group assumed coverage on Similarweb in a report on Wednesday, December 11th. They issued a “buy” rating and a $16.00 price objective on the stock. Northland Securities upped their price objective on shares of Similarweb from $15.00 to $17.00 and gave the stock an “outperform” rating in a report on Tuesday, November 26th. Citigroup raised their target price on Similarweb from $10.00 to $14.00 and gave the company a “buy” rating in a report on Thursday, November 14th. Finally, Needham & Company LLC restated a “buy” rating and issued a $14.00 price objective on shares of Similarweb in a research note on Wednesday, December 11th. Nine research analysts have rated the stock with a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat, Similarweb currently has an average rating of “Buy” and a consensus target price of $13.50.

Similarweb Stock Performance

The company has a market cap of $1.14 billion, a price-to-earnings ratio of -122.50 and a beta of 1.03. The company’s 50 day moving average price is $10.79 and its 200 day moving average price is $8.93.

Institutional Trading of Similarweb

Several institutional investors and hedge funds have recently added to or reduced their stakes in the company. Public Employees Retirement System of Ohio bought a new position in Similarweb in the third quarter valued at approximately $70,000. Quantbot Technologies LP bought a new stake in Similarweb in the third quarter valued at about $75,000. ANTIPODES PARTNERS Ltd raised its holdings in Similarweb by 122.5% in the second quarter. ANTIPODES PARTNERS Ltd now owns 11,580 shares of the company’s stock worth $90,000 after purchasing an additional 6,376 shares during the period. State of New Jersey Common Pension Fund D bought a new position in Similarweb during the third quarter worth about $122,000. Finally, Barclays PLC increased its holdings in shares of Similarweb by 201.0% in the third quarter. Barclays PLC now owns 15,414 shares of the company’s stock worth $136,000 after acquiring an additional 10,293 shares in the last quarter. 57.59% of the stock is owned by 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.