Similarweb (NYSE:SMWB) Sets New 12-Month High – Time to Buy?

Similarweb Ltd. (NYSE:SMWB)’s stock price reached a new 52-week high during trading on Thursday . The stock traded as high as $16.88 and last traded at $16.54, with a volume of 634493 shares changing hands. The stock had previously closed at $16.66.

Analysts Set New Price Targets

Several research firms have commented on SMWB. Northland Securities raised 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. Citigroup boosted their price target on Similarweb from $10.00 to $14.00 and gave the stock a “buy” rating in a research note on Thursday, November 14th. William Blair reiterated an “outperform” rating on shares of Similarweb in a research note on Thursday, December 19th. Needham & Company LLC reiterated a “buy” rating and issued a $14.00 price target on shares of Similarweb in a research note on Thursday, January 16th. Finally, The Goldman Sachs Group started coverage on Similarweb in a research note on Wednesday, December 11th. They issued a “buy” rating and a $16.00 price target on the stock. Nine research analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of “Buy” and a consensus target price of $13.88.

Similarweb Stock Down 4.7 %

The company has a 50 day simple moving average of $14.30 and a 200-day simple moving average of $10.66. The stock has a market cap of $1.31 billion, a price-to-earnings ratio of -147.36 and a beta of 0.97.

Similarweb (NYSE:SMWB) last posted its earnings results on Tuesday, November 12th. The company reported ($0.03) EPS for the quarter, missing the consensus estimate of $0.04 by ($0.07). The company had revenue of $64.71 million for the quarter, compared to the consensus estimate of $62.90 million. Similarweb had a negative net margin of 3.92% and a negative return on equity of 44.83%. During the same period last year, the company posted ($0.05) earnings per share. On average, equities research analysts expect that Similarweb Ltd. will post -0.05 EPS for the current fiscal year.

Hedge Funds Weigh In On Similarweb

Several institutional investors have recently made changes to their positions in the stock. Global Retirement Partners LLC bought a new position in shares of Similarweb during the fourth quarter valued at approximately $29,000. Cubist Systematic Strategies LLC grew its holdings in shares of Similarweb by 4.4% during the second quarter. Cubist Systematic Strategies LLC now owns 51,272 shares of the company’s stock valued at $398,000 after purchasing an additional 2,138 shares during the last quarter. New York State Common Retirement Fund bought a new position in Similarweb in the 4th quarter worth approximately $39,000. XTX Topco Ltd grew its holdings in 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 buying an additional 4,453 shares in the last quarter. Finally, Renaissance Technologies LLC grew its holdings in Similarweb by 4.3% in the 2nd quarter. Renaissance Technologies LLC now owns 110,600 shares of the company’s stock worth $859,000 after buying an additional 4,599 shares in the last quarter. 57.59% of the stock is owned by institutional investors.

About Similarweb

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.