Barclays analyst Ryan MacWilliams raised the firm’s price target on Similarweb (SMWB) to $15 from $10 and keeps an Overweight rating on the shares following quarterly results. The firm cites the largest top-line beat since Q2 2022 along with another 8-figure customer. Barclays thinks investors should take more notice of the Similarweb story at about 2.5-times 2026 EV/sales. The firm believes the company’s product innovation, recent GTM initiatives, and customer interest in leveraging Similarweb’s differentiated dataset for generative AI use cases is driving its recent growth reacceleration.
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Read More on SMWB:
- Similarweb reports Q3 EPS 5c, consensus 5c
- Similarweb sees Q4 revenue $64.7M- $65.7M, consensus $65.0M
- Similarweb raises FY24 revenue view to $249M-$250M from $246M-$248M
- Similarweb Achieves Strong Growth and Expands Customer Base
- SMWB Earnings this Week: How Will it Perform?
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