Similarweb price target raised to $12 from $10 at Barclays

Barclays raised the firm’s price target on Similarweb (SMWB) to $12 from $10 and keeps an Overweight rating on the shares after the company reported Q2 results that the firm sees reflecting benefits from its new sales reps, expansion of its larger customer base and “a growing opportunity to be a key data provider for customer’s looking to improve their Gen AI applications.” The firm’s higher target reflects increased confidence in medium-term growth opportunities and improving profitability, the analyst added.