Similarweb (NYSE:SMWB) Earns Market Outperform Rating from JMP Securities

Similarweb (NYSE:SMWB)‘s stock had its “market outperform” rating restated by analysts at JMP Securities in a research note issued on Thursday,Benzinga reports. They currently have a $17.00 price target on the stock. JMP Securities’ price objective indicates a potential upside of 54.33% from the company’s current price.

Several other analysts have also recently weighed in on SMWB. Citigroup increased their price target on shares of Similarweb from $14.00 to $22.00 and gave the company a “buy” rating in a research note on Tuesday. Jefferies Financial Group increased their target price on shares of Similarweb from $13.00 to $23.00 and gave the stock a “buy” rating in a report on Monday, February 3rd. The Goldman Sachs Group initiated coverage on shares of Similarweb in a research note on Wednesday, December 11th. They set a “buy” rating and a $16.00 target price on the stock. Needham & Company LLC reissued a “buy” rating and set a $14.00 price objective on shares of Similarweb in a report on Thursday. Finally, William Blair reissued an “outperform” rating on shares of Similarweb in a report on Thursday, December 19th. Nine equities research analysts have rated the stock with a buy rating and one has given a strong buy rating to the company. According to MarketBeat, Similarweb has a consensus rating of “Buy” and an average price target of $16.50.

Similarweb Price Performance

Similarweb stock traded down $0.86 during midday trading on Thursday, reaching $11.02. The company had a trading volume of 257,684 shares, compared to its average volume of 847,148. The firm’s fifty day simple moving average is $14.92 and its 200-day simple moving average is $11.21. Similarweb has a 12-month low of $5.71 and a 12-month high of $17.64. The company has a market capitalization of $891.33 million, a P/E ratio of -100.53 and a beta of 0.99.

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

Hedge Funds Weigh In On Similarweb

Large investors have recently bought and sold shares of the stock. Connor Clark & Lunn Investment Management Ltd. boosted its holdings in Similarweb by 112.7% in the third quarter. Connor Clark & Lunn Investment Management Ltd. now owns 449,896 shares of the company’s stock valued at $3,977,000 after acquiring an additional 238,428 shares during the last quarter. State Street Corp lifted its position in Similarweb by 32.5% during the 3rd quarter. State Street Corp now owns 187,919 shares of the company’s stock worth $1,661,000 after acquiring an additional 46,102 shares in the last quarter. Y.D. More Investments Ltd boosted its holdings in Similarweb by 6.3% in the 4th quarter. Y.D. More Investments Ltd now owns 1,449,634 shares of the company’s stock worth $20,541,000 after acquiring an additional 86,500 shares during the period. JPMorgan Chase & Co. grew its position in Similarweb by 147.4% in the third quarter. JPMorgan Chase & Co. now owns 171,539 shares of the company’s stock valued at $1,516,000 after acquiring an additional 102,192 shares in the last quarter. Finally, Jennison Associates LLC purchased a new stake in shares of Similarweb during the fourth quarter valued at approximately $26,059,000. Hedge funds and other institutional investors own 57.59% of the company’s stock.

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.