Similarweb price target raised to $15 from $10 at Barclays

Barclays analyst Ryan MacWilliams raised the firm’s price target on Similarweb (SMWB) to $15 from $10 and keeps an Overweight rating on the shares following quarterly results. The firm cites the largest top-line beat since Q2 2022 along with another 8-figure customer. Barclays thinks investors should take more notice of the Similarweb story at about 2.5-times 2026 EV/sales. The firm believes the company’s product innovation, recent GTM initiatives, and customer interest in leveraging Similarweb’s differentiated dataset for generative AI use cases is driving its recent growth reacceleration.