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William Blair Reiterates a Buy Rating on Similarweb (SMWB)

William Blair analyst Arjun Bhatia reiterated a Buy rating on Similarweb (SMWBResearch Report) on June 9. The company’s shares closed last Friday at $8.28, close to its 52-week low of $7.60.

According to TipRanks.com, Bhatia is ranked 0 out of 5 stars with an average return of -26.5% and a 9.3% success rate. Bhatia covers the Technology sector, focusing on stocks such as Zeta Global Holdings Corp, Qualtrics International, and DoubleVerify Holdings.

Similarweb has an analyst consensus of Strong Buy, with a price target consensus of $19.33, a 138.6% upside from current levels. In a report issued on May 31, J.P. Morgan also initiated coverage with a Buy rating on the stock with a $21.00 price target.

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Based on Similarweb’s latest earnings release for the quarter ending December 31, the company reported a quarterly revenue of $40.15 million and GAAP net loss of $23.81 million. In comparison, last year the company earned revenue of $29.41 million and had a GAAP net loss of $12.11 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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