Analysts Set Similarweb Ltd. (NYSE:SMWB) Price Target at $15.00

Key Points

• Similarweb Ltd. (NYSE:SMWB) has received a consensus rating of "Buy" from nine analysts, with eight giving it a buy rating and one providing a strong buy rating.
• The average price target for Similarweb shares over the next year is $15.00, although Citigroup recently lowered its price objective to $11.00.
• Institutional investors hold 57.59% of Similarweb stock, with notable increases in holdings from firms like Bank of America and Renaissance Technologies.

Similarweb Ltd. (NYSE:SMWB - Get Free Report) has earned an average recommendation of "Buy" from the eleven analysts that are currently covering the stock, Marketbeat Ratings reports. One equities research analyst has rated the stock with a hold recommendation, nine have given a buy recommendation and one has issued a strong buy recommendation on the company. The average twelve-month price objective among analysts that have issued ratings on the stock in the last year is $14.8750.

A number of analysts have recently commented on the company. Barclays reissued an "overweight" rating on shares of Similarweb in a research report on Wednesday, August 13th. Zacks Research upgraded shares of Similarweb from a "strong sell" rating to a "hold" rating in a report on Thursday, August 14th. Oppenheimer boosted their price objective on shares of Similarweb from $13.00 to $14.00 and gave the stock an "outperform" rating in a report on Monday. Finally, Citigroup decreased their price objective on shares of Similarweb from $13.00 to $11.00 and set a "buy" rating for the company in a report on Friday, August 1st.

Similarweb Stock Performance

Shares of SMWB traded up $0.0650 during mid-day trading on Friday, reaching $8.7150. The company had a trading volume of 602,873 shares, compared to its average volume of 497,838. The firm has a 50-day moving average price of $8.18 and a 200 day moving average price of $8.56. Similarweb has a 52 week low of $6.36 and a 52 week high of $17.64. The company has a market capitalization of $739.64 million, a price-to-earnings ratio of -24.90 and a beta of 1.11.

Hedge Funds Weigh In On Similarweb

Hedge funds have recently added to or reduced their stakes in the company. Heck Capital Advisors LLC purchased a new position in Similarweb in the 4th quarter worth approximately $115,000. Fullcircle Wealth LLC purchased a new stake in Similarweb during the 1st quarter valued at $117,000. MQS Management LLC purchased a new stake in Similarweb during the 2nd quarter valued at $125,000. Fox Run Management L.L.C. purchased a new stake in Similarweb during the 2nd quarter valued at $129,000. Finally, ANTIPODES PARTNERS Ltd raised its stake in Similarweb by 8.3% during the 2nd quarter. ANTIPODES PARTNERS Ltd now owns 17,510 shares of the company's stock valued at $137,000 after buying an additional 1,344 shares during the last quarter. 57.59% of the stock is currently owned by hedge funds and other 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.