Similarweb Ltd. (NYSE:SMWB) Given Consensus Rating of "Buy" by Analysts

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 a consensus rating of "Buy" from the nine analysts that are covering the firm, MarketBeat reports. Eight research analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the company. The average 1 year price objective among brokerages that have covered the stock in the last year is $15.00.

SMWB has been the topic of a number of recent analyst reports. Barclays reiterated an "overweight" rating on shares of Similarweb in a research report on Wednesday. Citigroup reduced their price objective on Similarweb from $13.00 to $11.00 and set a "buy" rating for the company in a research note on Friday, August 1st.

Institutional Trading of Similarweb

Hedge funds and other institutional investors have recently modified their holdings of the business. Herald Investment Management Ltd acquired a new stake in shares of Similarweb during the 1st quarter worth about $2,478,000. BNP Paribas Financial Markets purchased a new position in Similarweb during the 4th quarter valued at about $1,254,000. Bank of America Corp DE boosted its holdings in Similarweb by 145.0% during the 4th quarter. Bank of America Corp DE now owns 276,935 shares of the company's stock valued at $3,924,000 after acquiring an additional 163,919 shares during the period. Marshall Wace LLP boosted its holdings in Similarweb by 22.8% during the 4th quarter. Marshall Wace LLP now owns 358,736 shares of the company's stock valued at $5,083,000 after acquiring an additional 66,514 shares during the period. Finally, Renaissance Technologies LLC boosted its holdings in Similarweb by 17.2% during the 4th quarter. Renaissance Technologies LLC now owns 380,873 shares of the company's stock valued at $5,397,000 after acquiring an additional 55,873 shares during the period. 57.59% of the stock is owned by institutional investors and hedge funds.

Similarweb Stock Up 1.1%

Shares of NYSE SMWB opened at $8.48 on Friday. Similarweb has a 52-week low of $6.36 and a 52-week high of $17.64. The company has a market cap of $719.70 million, a PE ratio of -24.23 and a beta of 1.11. The firm's 50-day moving average price is $8.14 and its 200-day moving average price is $8.73.

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.

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