Similarweb price target raised to $23 from $13 at Jefferies

Jefferies analyst Surinder Thind raised the firm’s price target on Similarweb (SMWB) to $23 from $13 and keeps a Buy rating on the shares as part of a Q4 earnings preview. The firm increased our 2025 revenue estimates for Similarweb as it expects demand to steadily rise as the year progresses, among both small business and enterprise customers. Demand from artificial intelligence companies is an incremental near-term tailwind, while 2025 consensus expectations of mid-teens revenue growth looks conservative, the analyst tells investors in a research note.