Analyst Scott Berg from Needham reiterated a Buy rating on Similarweb and keeping the price target at $14.00.
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Scott Berg’s rating is based on the promising potential of Similarweb’s large language model (LLM) data opportunity. The company is poised to capitalize on this opportunity, which management believes could evolve into a significant revenue stream, potentially reaching $1 billion. This optimism is supported by the current engagement with three major tech companies, although the revenue may initially be uneven as it undergoes validation.
Additionally, Scott Berg notes improvements in Similarweb’s go-to-market (GTM) strategies, which are expected to enhance new sales in the fourth quarter and continue into fiscal year 2026. The company is also experiencing early success with changes in its retention programs, which could lead to improved revenue retention. These factors collectively contribute to the positive outlook and the Buy rating for Similarweb’s stock.
In another report released on November 13, Barclays also maintained a Buy rating on the stock with a $12.00 price target.