Similarweb price target raised to $17 from $16 at JMP Securities

JMP Securities raised the firm’s price target on Similarweb (SMWB) to $17 from $16 and keeps an Outperform rating on the shares. The company reported better-than-expected revenue and profitability in Q3, and guidance was generally in line on revenue but slightly lower on operating profit as Similarweb plans to accelerate its go-to-market expansion, the analyst tells investors in a research note. The firm continues to like Similarweb, as it offers a compelling set of digital data products that help businesses drive brand value and stay current in dynamic markets, and Similarweb offers a one-of-a-kind dataset for large language models to train on.