Similarweb Ltd. (NYSE:SMWB) Receives Average Rating of “Buy” from Brokerages

Shares of Similarweb Ltd. (NYSE:SMWB) have been given a consensus rating of “Buy” by the six brokerages that are covering the firm, MarketBeat.com reports. Six research analysts have rated the stock with a buy recommendation. The average 12-month price objective among brokerages that have issued a report on the stock in the last year is $10.60.

SMWB has been the subject of a number of research reports. Barclays boosted their target price on shares of Similarweb from $8.00 to $9.00 and gave the company an “overweight” rating in a research note on Thursday, February 15th. Citigroup upgraded Similarweb from a “neutral” rating to a “buy” rating and boosted their price target for the company from $6.00 to $10.00 in a research note on Thursday, February 15th. William Blair reissued an “outperform” rating on shares of Similarweb in a report on Tuesday, March 5th. Jefferies Financial Group reaffirmed a “buy” rating and set a $10.00 target price on shares of Similarweb in a report on Wednesday, February 7th. Finally, JMP Securities reiterated a “market outperform” rating and set a $14.00 price target on shares of Similarweb in a research note on Friday, March 15th.

Hedge Funds Weigh In On Similarweb

Several large investors have recently added to or reduced their stakes in the company. Blair William & Co. IL raised its position in shares of Similarweb by 0.5% during the 1st quarter. Blair William & Co. IL now owns 309,863 shares of the company’s stock valued at $4,013,000 after purchasing an additional 1,502 shares during the period. UBS Group AG increased its stake in Similarweb by 539.9% in the 1st quarter. UBS Group AG now owns 11,141 shares of the company’s stock worth $144,000 after buying an additional 9,400 shares in the last quarter. Engineers Gate Manager LP bought a new stake in Similarweb during the first quarter valued at about $165,000. Bank of America Corp DE lifted its position in shares of Similarweb by 39.9% in the first quarter. Bank of America Corp DE now owns 36,822 shares of the company’s stock valued at $477,000 after acquiring an additional 10,503 shares in the last quarter. Finally, JPMorgan Chase & Co. boosted its stake in shares of Similarweb by 9,213.3% in the second quarter. JPMorgan Chase & Co. now owns 27,940 shares of the company’s stock worth $230,000 after acquiring an additional 27,640 shares during the period. Hedge funds and other institutional investors own 57.59% of the company’s stock.

Similarweb Stock Down 2.0 %

Shares of NYSE:SMWB opened at $7.52 on Friday. Similarweb has a 1 year low of $4.58 and a 1 year high of $9.76. The stock’s fifty day moving average price is $8.48 and its 200-day moving average price is $6.49.

Similarweb (NYSE:SMWB) last announced its quarterly earnings results on Tuesday, February 13th. The company reported ($0.04) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.05) by $0.01. Similarweb had a negative net margin of 13.47% and a negative return on equity of 203.38%. The firm had revenue of $56.76 million for the quarter, compared to the consensus estimate of $55.90 million. On average, analysts forecast that Similarweb will post -0.2 EPS for the current year.

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.