Barclays notes that Similarweb (SMWB) has increased the price of its Web Intelligence Business plan by 17%, while increasing its Sales Intelligence Business plan by 14% and lowering its Web Intelligence Team plan by about 7%. Similarweb also increased pricing on monthly data credits, which are used as currency to extract data from the platform, notes the analyst. Given that 49% of Similarweb annual recurring revenue is on multi-year contracts and existing customers will only see the impact at renewal, the firm expects this price increase to have “a gradual impact over time,” says the analyst, who keeps an Overweight rating and $15 price target on the shares.
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