Similarweb (NYSE:SMWB) Stock Price Expected to Rise, Citigroup Analyst Says

Similarweb (NYSE:SMWB) had its price target increased by stock analysts at Citigroup from $14.00 to $22.00 in a note issued to investors on Tuesday,Benzinga reports. The firm presently has a “buy” rating on the stock. Citigroup’s price target points to a potential upside of 85.19% from the company’s current price.

Other research analysts have also recently issued research reports about the company. The Goldman Sachs Group began coverage on Similarweb in a research report on Wednesday, December 11th. They issued a “buy” rating and a $16.00 target price on the stock. JMP Securities reissued a “market outperform” rating and issued a $17.00 price objective on shares of Similarweb in a research note on Wednesday, December 11th. Jefferies Financial Group boosted their target price on shares of Similarweb from $13.00 to $23.00 and gave the stock a “buy” rating in a research note on Monday, February 3rd. William Blair reiterated an “outperform” rating on shares of Similarweb in a research note on Thursday, December 19th. Finally, Needham & Company LLC restated a “buy” rating and set a $14.00 price objective on shares of Similarweb in a research report on Thursday, January 16th. Nine investment analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of “Buy” and a consensus price target of $16.50.

Similarweb Stock Performance

NYSE:SMWB opened at $11.88 on Tuesday. Similarweb has a fifty-two week low of $5.71 and a fifty-two week high of $17.64. The company has a market cap of $961.32 million, a price-to-earnings ratio of -108.00 and a beta of 0.99. The stock has a fifty day moving average price of $14.92 and a 200-day moving average price of $11.21.

Similarweb (NYSE:SMWB) last issued its earnings results on Tuesday, February 11th. The company reported ($0.07) EPS for the quarter, missing the consensus estimate of $0.03 by ($0.10). Similarweb had a negative net margin of 3.92% and a negative return on equity of 44.83%. Research analysts predict that Similarweb will post -0.05 EPS for the current fiscal year.

Institutional Investors Weigh In On Similarweb

Large investors have recently modified their holdings of the company. Jennison Associates LLC acquired a new position in shares of Similarweb in the 4th quarter valued at about $26,059,000. Victory Capital Management Inc. acquired a new stake in Similarweb in the fourth quarter valued at approximately $6,090,000. P.A.W. Capital Corp bought a new stake in shares of Similarweb during the third quarter valued at approximately $3,536,000. Telemark Asset Management LLC acquired a new position in shares of Similarweb during the fourth quarter worth approximately $4,251,000. Finally, Scalar Gauge Management LLC grew its position in Similarweb by 45.5% in the 3rd quarter. Scalar Gauge Management LLC now owns 863,923 shares of the company’s stock valued at $7,637,000 after purchasing an additional 270,000 shares during the period. 57.59% of the stock is currently owned by institutional investors and hedge funds.

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.