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

Key Points

• Shares of Similarweb Ltd. (NYSE:SMWB) have received an average rating of "Moderate Buy" from ten research firms, with one hold and nine buy ratings.
• The average 1-year target price for Similarweb's stock among analysts is $14.8750, indicating potential upside from its current trading price of around $9.89.
• Recently, institutional investors have shown significant interest, with Tidal Investments increasing its stake by 66.4% and Engineers Gate Manager LP boosting its holdings by 375.8% in the second quarter.

Shares of Similarweb Ltd. (NYSE:SMWB - Get Free Report) have been assigned an average rating of "Moderate Buy" from the ten research firms that are currently covering the company, Marketbeat Ratings reports. One analyst has rated the stock with a hold rating and nine have given a buy rating to the company. The average 1-year target price among analysts that have issued a report on the stock in the last year is $14.8750.

A number of research firms have commented on SMWB. Zacks Research raised shares of Similarweb from a "strong sell" rating to a "hold" rating in a report on Thursday, August 14th. Oppenheimer raised their price target on Similarweb from $13.00 to $14.00 and gave the stock an "outperform" rating in a research report on Monday, August 18th. Citigroup dropped their price objective on Similarweb from $13.00 to $11.00 and set a "buy" rating for the company in a report on Friday, August 1st. Finally, Barclays reissued an "overweight" rating on shares of Similarweb in a research note on Wednesday, August 13th.

Similarweb Trading Down 0.2%

Shares of NYSE SMWB opened at $9.89 on Thursday. Similarweb has a 1 year low of $6.36 and a 1 year high of $17.64. The firm's 50-day moving average is $8.78 and its 200-day moving average is $8.22. The firm has a market capitalization of $838.94 million, a PE ratio of -28.24 and a beta of 1.13.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently bought and sold shares of the company. Tidal Investments LLC increased its stake in Similarweb by 66.4% in the second quarter. Tidal Investments LLC now owns 61,574 shares of the company's stock valued at $483,000 after purchasing an additional 24,568 shares in the last quarter. Man Group plc acquired a new position in shares of Similarweb in the 2nd quarter valued at $209,000. Engineers Gate Manager LP grew its holdings in shares of Similarweb by 375.8% in the 2nd quarter. Engineers Gate Manager LP now owns 102,311 shares of the company's stock valued at $802,000 after buying an additional 80,808 shares during the period. PDT Partners LLC increased its position in shares of Similarweb by 3.9% in the 2nd quarter. PDT Partners LLC now owns 98,388 shares of the company's stock valued at $771,000 after buying an additional 3,717 shares in the last quarter. Finally, California State Teachers Retirement System raised its stake in Similarweb by 29.7% during the 2nd quarter. California State Teachers Retirement System now owns 49,654 shares of the company's stock worth $389,000 after buying an additional 11,356 shares during the period. Institutional investors own 57.59% of the company's stock.

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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