Needham Upgrades Similarweb to Buy from Hold
Fintel reports that on September 16, 2026, Needham upgraded their outlook for Similarweb (NYSE:SMWB) from Hold to Buy.
This rating action follows a prior action by Needham on February 19, 2026, when the firm downgraded the company from Buy to Hold. On September 15, 2026, the day before the upgrade, Similarweb's stock closed at $8.47. This pre-action close of $8.47 compares to a one-week baseline close of $8.38 on September 8, 2026, representing a price change of +1.07%. Over a one-month period, the stock registered a price change of -4.72% from a baseline close of $8.89 on August 14, 2026.
As of September 15, 2026, the current consensus target mean for the stock is $12.07, with a median target of $11.73. This mean target represents an implied change of +42.50% from the pre-action close. The prior consensus target mean was $12.07 as of August 28, 2026, showing a consensus target revision of 0.00%.
In the recommendation period of September 1, 2026, the aggregate analyst sentiment for Similarweb consisted of 4 strong buy, 5 buy, 5 hold, 0 sell, and 0 strong sell recommendations. Out of the 14 total recommendations, 64.3% were positive, 35.7% were hold, and 0.0% were negative. In the prior period of August 1, 2026, the aggregate recommendations totaled 14, consisting of 4 strong buy, 4 buy, 6 hold, 0 sell, and 0 strong sell recommendations, which represented 57.1% positive, 42.9% hold, and 0.0% negative ratings.
Similarweb reported its second quarter 2026 financial results on August 12, 2026. The company posted an actual EPS of 0.06, compared to the estimated EPS of 0.0321, representing an EPS surprise of +86.92%. Actual revenue for the quarter was $77,200,000.00, compared to the estimated revenue of $77,025,942.00. In an EX-99.1 filing submitted on August 12, 2026, the company announced it was raising full-year guidance on strong AI demand and more than $60M in new contracts, reporting revenue and Non-GAAP operating profit above the guidance range, its first ever quarter of positive GAAP operating profit, and an overall NRR increase to 100%. The company also submitted a Form 6-K filing on August 12, 2026.
Similarweb Ltd., based in Israel, operates within the analytics and digital intelligence sector, providing advanced web analytics services that allow businesses to gauge web traffic and other digital metrics.
Recent analyst actions
| Date | Analyst | Prior | Latest recommendation | Action |
|---|---|---|---|---|
| September 16, 2026 | Needham | Hold | Buy | upgrade |
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This story originally appeared on Fintel.