Market Buzz: Similarweb Ltd (SMWB) Surpasses Analyst Price Target
Shares of Similarweb Ltd (Symbol: SMWB) recently traded at $14.90, exceeding analysts’ average 12-month target price of $14.88. When stocks hit their targets, analysts typically must make a choice: either downgrade their rating or raise their target. The nature of this decision often hinges on the company’s recent performance and market conditions.
Diverse Analyst Targets Provide Insight
There are 8 analysts within the Zacks coverage universe that contribute to the average target for Similarweb Ltd. While the average stands at $14.88, individual targets vary significantly. One analyst has set a lower target at $13.00, while another has set an optimistic target as high as $17.00, leading to a standard deviation of $1.642. This range reflects differing outlooks on the company’s future performance.
Interpretation of Analyst Ratings
Analyzing the average price target is an attempt to capture the collective insights of various experts, rather than relying on the view of a single analyst. With SMWB’s recent rise above the average target price of $14.88, it prompts investors to reconsider their positions. Specifically, they must evaluate whether this price is merely a stepping stone toward a higher goal, or if it has climbed too high, prompting a review of their investments.
| Recent SMWB Analyst Ratings Breakdown | ||||
|---|---|---|---|---|
| » | Current | 1 Month Ago | 2 Month Ago | 3 Month Ago |
| Strong buy ratings: | 8 | 7 | 7 | 8 |
| Buy ratings: | 1 | 1 | 1 | 0 |
| Hold ratings: | 0 | 0 | 0 | 0 |
| Sell ratings: | 0 | 0 | 0 | 0 |
| Strong sell ratings: | 0 | 0 | 0 | 0 |
| Average rating: | 1.11 | 1.13 | 1.13 | 1.0 |
The average rating in the table ranges from 1 (Strong Buy) to 5 (Strong Sell). Data utilized in this analysis comes from Zacks Investment Research, provided via Quandl.com. To explore the latest Zacks research report on SMWB, click here to access it for free.
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The views and opinions expressed herein are solely those of the author and do not necessarily represent the views of Nasdaq, Inc.
