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

Shares of Similarweb Ltd. (NYSE:SMWB - Get Free Report) have received an average rating of "Buy" from the ten ratings firms that are presently covering the firm, Marketbeat reports. Nine investment analysts have rated the stock with a buy rating and one has issued a strong buy rating on the company. The average 12 month price objective among brokerages that have issued a report on the stock in the last year is $15.75.

SMWB has been the subject of a number of analyst reports. The Goldman Sachs Group cut their target price on Similarweb from $13.00 to $10.00 and set a "buy" rating for the company in a research note on Thursday, April 17th. Barclays cut their price objective on Similarweb from $15.00 to $10.00 and set an "overweight" rating on the stock in a research report on Thursday, May 15th.

Similarweb Trading Down 0.9%

SMWB stock traded down $0.08 during midday trading on Wednesday, hitting $8.67. 114,680 shares of the company's stock were exchanged, compared to its average volume of 621,160. Similarweb has a 1-year low of $5.71 and a 1-year high of $17.64. The business has a 50-day simple moving average of $7.98 and a two-hundred day simple moving average of $9.61. The stock has a market capitalization of $716.32 million, a PE ratio of -39.48 and a beta of 1.10.

Similarweb (NYSE:SMWB - Get Free Report) last released its earnings results on Tuesday, May 13th. The company reported ($0.11) EPS for the quarter, missing the consensus estimate of ($0.02) by ($0.09). Similarweb had a negative return on equity of 71.14% and a negative net margin of 6.97%. The company had revenue of $67.09 million for the quarter, compared to analyst estimates of $66.37 million. As a group, research analysts expect that Similarweb will post -0.24 EPS for the current fiscal year.

Institutional Investors Weigh In On Similarweb

Several hedge funds and other institutional investors have recently added to or reduced their stakes in SMWB. Schonfeld Strategic Advisors LLC purchased a new position in shares of Similarweb during the 4th quarter valued at $22,536,000. Migdal Insurance & Financial Holdings Ltd. raised its position in shares of Similarweb by 61.3% during the first quarter. Migdal Insurance & Financial Holdings Ltd. now owns 2,762,557 shares of the company's stock valued at $22,846,000 after buying an additional 1,050,000 shares during the last quarter. Wellington Management Group LLP acquired a new position in shares of Similarweb during the first quarter valued at about $7,355,000. T. Rowe Price Investment Management Inc. raised its position in shares of Similarweb by 109.1% during the first quarter. T. Rowe Price Investment Management Inc. now owns 1,410,826 shares of the company's stock valued at $11,668,000 after buying an additional 736,004 shares during the last quarter. Finally, American Century Companies Inc. acquired a new position in shares of Similarweb during the first quarter valued at about $6,015,000. 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.