Similarweb (SMWB) Receives a Buy from J.P. Morgan

In a report released on November 16, Noah R. Herman from J.P. Morgan maintained a Buy rating on Similarweb (SMWBResearch Report), with a price target of $16.00. The company’s shares opened today at $4.85.

According to TipRanks, R. Herman is an analyst with an average return of -10.6% and a 33.33% success rate. R. Herman covers the Technology sector, focusing on stocks such as ON24, Similarweb, and EverCommerce.

The word on The Street in general, suggests a Strong Buy analyst consensus rating for Similarweb with a $12.20 average price target, representing a 151.55% upside. In a report released on November 18, Citigroup also maintained a Buy rating on the stock with a $10.00 price target.

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Based on Similarweb’s latest earnings release for the quarter ending June 30, the company reported a quarterly revenue of $47.59 million and a GAAP net loss of $22.06 million. In comparison, last year the company earned a revenue of $32.51 million and had a GAAP net loss of $15.72 million

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Similarweb Ltd provides a platform for digital intelligence, delivering a view of the digital world that empowers its customers to be competitive in markets.

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