Similarweb assumed with a Buy at Jefferies

Jefferies assumed coverage of Similarweb with a Buy rating with a price target of $10, up from $8. Fundamentals have stabilized and with the release of Similarweb 3.0 and a revised more modular pricing strategy the firm expects a reacceleration in revenue growth in 2024, says the analyst, who calls the stock’s valuation “too attractive to ignore.”