William Blair analyst Arjun Bhatia has maintained their bullish stance on SMWB stock, giving a Buy rating on February 25.
Arjun Bhatia has given his Buy rating due to a combination of factors that highlight Similarweb’s strong position and potential for growth. The company’s management has expressed a positive outlook, driven by robust demand and strategic investments aimed at long-term growth. These investments are expected to enhance Similarweb’s capabilities, particularly in the enterprise sector and through partnerships, while also capitalizing on emerging opportunities in GenAI applications.
Furthermore, the company’s shares are currently trading at a significant discount compared to its peers, which presents an attractive risk/reward scenario. Despite a recent sell-off, Bhatia believes that the market reaction is excessive, and as the company executes its plans to increase its sales force and improve margins, there is potential for accelerated growth in 2025. This outlook underpins the Buy rating, with expectations of favorable performance as the company meets its growth and profitability targets.
According to TipRanks, Bhatia is a 4-star analyst with an average return of 6.9% and a 50.46% success rate. Bhatia covers the Technology sector, focusing on stocks such as Salesforce, Similarweb, and Zeta Global Holdings Corp.
In another report released on February 25, Barclays also maintained a Buy rating on the stock with a $15.00 price target.