Needham & Company LLC Reiterates Buy Rating for Similarweb (NYSE:SMWB)

Similarweb (NYSE:SMWB)‘s stock had its “buy” rating reiterated by equities researchers at Needham & Company LLC in a note issued to investors on Thursday,Benzinga reports. They currently have a $14.00 price target on the stock. Needham & Company LLC’s target price points to a potential downside of 10.21% from the stock’s current price.

A number of other research analysts have also recently commented on the company. Northland Securities raised their target price on Similarweb from $15.00 to $17.00 and gave the company an “outperform” rating in a research note on Tuesday, November 26th. JMP Securities reiterated a “market outperform” rating and issued a $17.00 price objective on shares of Similarweb in a report on Wednesday, December 11th. William Blair restated an “outperform” rating on shares of Similarweb in a report on Thursday, December 19th. Citigroup upped their target price on shares of Similarweb from $10.00 to $14.00 and gave the stock a “buy” rating in a research report on Thursday, November 14th. Finally, The Goldman Sachs Group assumed coverage on shares of Similarweb in a research report on Wednesday, December 11th. They set a “buy” rating and a $16.00 price target for the company. Nine research analysts have rated the stock with a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, Similarweb has a consensus rating of “Buy” and an average target price of $13.50.

Similarweb Price Performance

SMWB stock opened at $15.59 on Thursday. The firm has a 50-day moving average of $13.40 and a 200 day moving average of $10.02. The company has a market cap of $1.26 billion, a P/E ratio of -141.75 and a beta of 0.97. Similarweb has a 1 year low of $5.30 and a 1 year high of $16.33.

Institutional Trading of Similarweb

Institutional investors and hedge funds have recently bought and sold shares of the company. International Assets Investment Management LLC bought a new position in shares of Similarweb in the fourth quarter worth approximately $154,000. JPMorgan Chase & Co. raised its holdings in Similarweb by 147.4% in the 3rd quarter. JPMorgan Chase & Co. now owns 171,539 shares of the company’s stock worth $1,516,000 after acquiring an additional 102,192 shares during the last quarter. Barclays PLC lifted its position in Similarweb by 201.0% in the 3rd quarter. Barclays PLC now owns 15,414 shares of the company’s stock valued at $136,000 after acquiring an additional 10,293 shares in the last quarter. Public Employees Retirement System of Ohio purchased a new stake in Similarweb during the 3rd quarter valued at $70,000. Finally, XTX Topco Ltd increased its holdings in shares of Similarweb by 9.0% in the 3rd quarter. XTX Topco Ltd now owns 53,980 shares of the company’s stock worth $477,000 after purchasing an additional 4,453 shares in the last quarter. 57.59% of the stock is currently owned by institutional investors.

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.