Similarweb (NYSE:SMWB) Price Target Cut to $13.00 by Analysts at The Goldman Sachs Group

Similarweb (NYSE:SMWB) had its target price reduced by analysts at The Goldman Sachs Group from $15.00 to $13.00 in a report issued on Friday,Benzinga reports. The firm currently has a “buy” rating on the stock. The Goldman Sachs Group’s price target points to a potential upside of 54.76% from the company’s current price.

Several other analysts have also commented on the stock. Needham & Company LLC restated a “buy” rating and issued a $14.00 price objective on shares of Similarweb in a report on Thursday, February 13th. William Blair reissued an “outperform” rating on shares of Similarweb in a research note on Thursday, December 19th. JMP Securities restated a “market outperform” rating and set a $17.00 price target on shares of Similarweb in a report on Thursday, February 13th. Northland Securities upped their price target on shares of Similarweb from $17.00 to $20.00 and gave the stock an “outperform” rating in a research note on Friday, January 24th. Finally, Citigroup lifted their target price on shares of Similarweb from $14.00 to $22.00 and gave the stock a “buy” rating in a report on Tuesday, February 11th. Nine analysts have rated the stock with a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat, Similarweb has a consensus rating of “Buy” and a consensus target price of $16.13.

Similarweb Price Performance

NYSE SMWB traded down $0.19 on Friday, reaching $8.40. 63,405 shares of the company’s stock traded hands, compared to its average volume of 370,494. The stock has a market cap of $694.00 million, a PE ratio of -60.50 and a beta of 1.08. Similarweb has a 12 month low of $5.71 and a 12 month high of $17.64. The stock has a 50-day simple moving average of $12.02 and a 200 day simple moving average of $11.48.

Similarweb (NYSE:SMWB) last released 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 4.58% and a negative return on equity of 47.62%. As a group, analysts anticipate that Similarweb will post -0.24 EPS for the current year.

Institutional Trading of Similarweb

Institutional investors and hedge funds have recently modified their holdings of the company. Meitav Investment House Ltd. raised its holdings in Similarweb by 17.0% during the fourth quarter. Meitav Investment House Ltd. now owns 12,846 shares of the company’s stock valued at $182,000 after acquiring an additional 1,870 shares during the period. Public Employees Retirement System of Ohio raised its stake in Similarweb by 25.3% during the 4th quarter. Public Employees Retirement System of Ohio now owns 9,900 shares of the company’s stock valued at $140,000 after purchasing an additional 2,000 shares during the period. Global Retirement Partners LLC purchased a new position in Similarweb in the 4th quarter worth approximately $29,000. New York State Common Retirement Fund bought a new position in Similarweb in the 4th quarter worth approximately $39,000. Finally, XTX Topco Ltd grew its holdings in Similarweb by 9.0% during the 3rd quarter. XTX Topco Ltd now owns 53,980 shares of the company’s stock valued at $477,000 after buying 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.