Similarweb Ltd. (NYSE:SMWB) Receives Average Recommendation of "Buy" from Brokerages

Similarweb Ltd. (NYSE:SMWB - Get Free Report) has received an average recommendation of "Buy" from the ten ratings firms that are currently covering the firm, Marketbeat reports. Nine analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the company. The average 12-month target price among brokers that have covered the stock in the last year is $15.75.

Several research firms recently weighed in on SMWB. Citigroup raised their price objective on Similarweb from $14.00 to $22.00 and gave the company a "buy" rating in a research note on Tuesday, February 11th. Barclays reduced their price target on shares of Similarweb from $15.00 to $10.00 and set an "overweight" rating on the stock in a research note on Thursday, May 15th. JMP Securities restated a "market outperform" rating and issued a $17.00 price target on shares of Similarweb in a research note on Thursday, February 13th. The Goldman Sachs Group cut their target price on shares of Similarweb from $13.00 to $10.00 and set a "buy" rating on the stock in a research report on Thursday, April 17th. Finally, Needham & Company LLC restated a "buy" rating and issued a $14.00 target price on shares of Similarweb in a research report on Thursday, February 13th.

Similarweb Stock Performance

Shares of NYSE SMWB traded down $0.07 during trading hours on Tuesday, hitting $7.91. 273,859 shares of the stock were exchanged, compared to its average volume of 452,600. The company's fifty day simple moving average is $7.36 and its two-hundred day simple moving average is $10.85. The company has a market cap of $653.52 million, a PE ratio of -56.50 and a beta of 1.09. Similarweb has a 1-year low of $5.71 and a 1-year high of $17.64.

Similarweb (NYSE:SMWB - Get Free Report) last issued its earnings results on Tuesday, May 13th. The company reported ($0.11) earnings per share for the quarter, missing analysts' consensus estimates of ($0.02) by ($0.09). The business had revenue of $67.09 million during the quarter, compared to analyst estimates of $66.37 million. Similarweb had a negative net margin of 4.58% and a negative return on equity of 47.62%. As a group, sell-side analysts expect that Similarweb will post -0.24 EPS for the current fiscal year.

Institutional Investors Weigh In On Similarweb

Hedge funds have recently added to or reduced their stakes in the business. Global Retirement Partners LLC acquired a new position in shares of Similarweb during the fourth quarter worth $29,000. New York State Common Retirement Fund acquired a new position in shares of Similarweb during the fourth quarter worth $39,000. Heck Capital Advisors LLC acquired a new position in Similarweb during the 4th quarter worth about $115,000. KLP Kapitalforvaltning AS acquired a new position in Similarweb during the 4th quarter worth about $115,000. Finally, Fullcircle Wealth LLC acquired a new position in Similarweb during the 1st quarter worth about $117,000. 57.59% of the stock is currently owned by institutional investors and hedge funds.

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.