Similarweb (NYSE:SMWB) Sets New 1-Year High – Should You Buy?

Similarweb Ltd. (NYSE:SMWB)’s stock price hit a new 52-week high 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.

Wall Street Analyst Weigh In

A number of equities analysts recently issued reports on SMWB shares. Citigroup upped their price target on shares of Similarweb from $10.00 to $14.00 and gave the stock a “buy” rating in a research note on Thursday, November 14th. JMP Securities reissued a “market outperform” rating and set a $17.00 price target on shares of Similarweb in a research report on Wednesday, December 11th. Needham & Company LLC restated a “buy” rating and issued a $14.00 price target on shares of Similarweb in a research note on Thursday, January 16th. The Goldman Sachs Group started coverage on Similarweb in a research report on Wednesday, December 11th. They issued a “buy” rating and a $16.00 target price for the company. Finally, William Blair reaffirmed an “outperform” rating on shares of Similarweb in a report on Thursday, December 19th. Nine investment 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 presently has an average rating of “Buy” and a consensus price target of $13.88.

Similarweb Trading Down 0.8 %

The stock has a market cap of $1.34 billion, a P/E ratio of -150.32 and a beta of 0.97. The company’s 50 day moving average price is $14.14 and its two-hundred day moving average price is $10.55.

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

Institutional Inflows and Outflows

Hedge funds have recently made changes to their positions in the stock. Connor Clark & Lunn Investment Management Ltd. lifted its holdings in Similarweb by 112.7% during 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 purchasing an additional 238,428 shares in the last quarter. State Street Corp lifted its stake in shares of Similarweb by 32.5% during the 3rd quarter. State Street Corp now owns 187,919 shares of the company’s stock valued at $1,661,000 after buying an additional 46,102 shares in the last quarter. Inspire Investing LLC bought a new position in Similarweb in the 3rd quarter worth $886,000. JPMorgan Chase & Co. increased its stake 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 buying an additional 102,192 shares in the last quarter. Finally, Atom Investors LP lifted its position in shares of Similarweb by 41.1% in the third quarter. Atom Investors LP now owns 143,942 shares of the company’s stock valued at $1,272,000 after acquiring an additional 41,935 shares in the last quarter. 57.59% of the stock is currently 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.