Similarweb (SMWB – Research Report), the Technology sector company, was revisited by a Wall Street analyst today. Analyst Scott Berg from Needham maintained a Buy rating on the stock and has a $14.00 price target.
Discover the Best Stocks and Maximize Your Portfolio:
- See what stocks are receiving strong buy ratings from top-rated analysts.
- Filter, analyze, and streamline your search for investment opportunities with TipRanks’ Stock Screener.
Scott Berg has given his Buy rating due to a combination of factors including recent improvements in deal execution and a strategic focus on AI and LLM product development. Despite lower than expected revenue and profitability guidance for 2025, the company has shown encouraging signs of growth acceleration, particularly in January, which boosts confidence in its future performance.
Berg also notes improvements in large customer net revenue retention, indicating that Similarweb’s expansion strategies are gaining traction. The planned investments in AI-driven insights are seen as a positive move, positioning the company to capture emerging demands in the Gen AI space. While profitability expectations may not align with market forecasts, the potential for significant revenue growth in the latter half of 2025 supports the optimistic outlook.
In another report released today, JMP Securities also maintained a Buy rating on the stock with a $17.00 price target.