Similarweb (NYSE:SMWB) Shares Up 3.7%

Similarweb Ltd. (NYSE:SMWB)’s stock price shot up 3.7% during mid-day trading on Friday . The stock traded as high as $7.83 and last traded at $7.81. 8,309 shares traded hands during mid-day trading, a decline of 95% from the average session volume of 180,923 shares. The stock had previously closed at $7.53.

Wall Street Analysts Forecast Growth

Several brokerages recently issued reports on SMWB. Barclays upped their target price on shares of Similarweb from $8.00 to $9.00 and gave the stock an “overweight” rating in a research report on Thursday, February 15th. Citigroup upgraded shares of Similarweb from a “neutral” rating to a “buy” rating and upped their price target for the company from $6.00 to $10.00 in a research report on Thursday, February 15th. JMP Securities restated a “market outperform” rating and set a $14.00 price target on shares of Similarweb in a research report on Friday, March 15th. Jefferies Financial Group restated a “buy” rating and set a $10.00 price target on shares of Similarweb in a research report on Wednesday, February 7th. Finally, William Blair restated an “outperform” rating on shares of Similarweb in a research report on Tuesday, March 5th. Six research analysts have rated the stock with a buy rating, Based on data from MarketBeat, Similarweb currently has an average rating of “Buy” and a consensus price target of $10.60.

Similarweb Stock Up 2.4 %

The company’s fifty day moving average is $8.48 and its 200-day moving average is $6.49. The company has a market cap of $606.39 million, a PE ratio of -21.51 and a beta of 0.68.

Similarweb (NYSE:SMWB) last issued its earnings results on Tuesday, February 13th. The company reported ($0.04) earnings per share (EPS) for the quarter, topping the consensus estimate 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 company had revenue of $56.76 million for the quarter, compared to analysts’ expectations of $55.90 million. Equities research analysts expect that Similarweb Ltd. will post -0.2 EPS for the current fiscal year.

Institutional Inflows and Outflows

Institutional investors have recently added to or reduced their stakes in the business. Legal & General Group Plc raised its position in Similarweb by 64.8% in the fourth quarter. Legal & General Group Plc now owns 4,171 shares of the company’s stock worth $27,000 after acquiring an additional 1,640 shares during the period. ANTIPODES PARTNERS Ltd bought a new stake in shares of Similarweb during the 3rd quarter valued at $27,000. Tower Research Capital LLC TRC bought a new stake in shares of Similarweb during the 3rd quarter valued at $31,000. Barclays PLC raised its position in shares of Similarweb by 737.4% during the 3rd quarter. Barclays PLC now owns 4,966 shares of the company’s stock valued at $32,000 after purchasing an additional 4,373 shares during the period. Finally, Lazard Asset Management LLC bought a new stake in shares of Similarweb during the 4th quarter valued at $47,000. 57.59% of the stock is currently 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.