Brokerages Set Similarweb Ltd. (NYSE:SMWB) Price Target at $15.75

Similarweb Ltd. (NYSE:SMWB - Get Free Report) has received an average recommendation of "Buy" from the ten ratings firms that are covering the stock, MarketBeat reports. Nine investment analysts have rated the stock with a buy recommendation and one has issued a strong buy recommendation on the company. The average 1-year target price among analysts that have covered the stock in the last year is $15.75.

Several brokerages recently issued reports on SMWB. Northland Securities boosted their price objective on Similarweb from $17.00 to $20.00 and gave the company an "outperform" rating in a research report on Friday, January 24th. The Goldman Sachs Group cut their price objective 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. Needham & Company LLC restated a "buy" rating and issued a $14.00 price target on shares of Similarweb in a report on Thursday, February 13th. Citigroup increased their price objective on Similarweb from $14.00 to $22.00 and gave the company a "buy" rating in a report on Tuesday, February 11th. Finally, JMP Securities reiterated a "market outperform" rating and issued a $17.00 price target on shares of Similarweb in a research note on Thursday, February 13th.

Hedge Funds Weigh In On Similarweb

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Migdal Insurance & Financial Holdings Ltd. boosted its holdings in shares of Similarweb by 61.3% during the 1st quarter. Migdal Insurance & Financial Holdings Ltd. now owns 2,762,557 shares of the company's stock valued at $22,846,000 after acquiring an additional 1,050,000 shares in the last quarter. Phoenix Financial Ltd. grew its holdings in shares of Similarweb by 2.5% during the first quarter. Phoenix Financial Ltd. now owns 2,585,985 shares of the company's stock worth $21,386,000 after purchasing an additional 63,978 shares during the last quarter. Menora Mivtachim Holdings LTD. increased its stake in shares of Similarweb by 33.2% in the first quarter. Menora Mivtachim Holdings LTD. now owns 2,246,470 shares of the company's stock valued at $18,578,000 after buying an additional 560,000 shares during the period. Jennison Associates LLC increased its position in Similarweb by 2.9% in the 1st quarter. Jennison Associates LLC now owns 1,892,110 shares of the company's stock valued at $15,648,000 after acquiring an additional 53,055 shares during the period. Finally, Schonfeld Strategic Advisors LLC acquired a new position in shares of Similarweb during the fourth quarter worth $22,536,000. Institutional investors own 57.59% of the company's stock.

Similarweb Stock Down 1.2%

SMWB stock traded down $0.10 during trading on Friday, hitting $8.07. The company had a trading volume of 246,270 shares, compared to its average volume of 402,782. The stock has a market cap of $666.74 million, a price-to-earnings ratio of -57.64 and a beta of 1.13. The firm has a 50-day moving average price of $7.85 and a 200-day moving average price of $11.14. Similarweb has a 12 month low of $5.71 and a 12 month high of $17.64.

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

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.