- I am bullish on Similarweb stock as I believe the company will see sustained multi-year tailwinds from the demand for web-traffic and data analysis.
- Similarweb operates a platform that allows companies to discover and analyze website traffic insights, such as keywords, traffic volume, engagement metrics, etc.
- The company’s stock is down more than 50% YTD and long-term investors might appreciate the share price weakness as a buying opportunity.
- I calculate a base-case target price of $21.24/share—indicating almost 200% upside. I initiate with a Buy recommendation.
For further details see:
Similarweb: Bullish On Accelerating Demand For Web-Traffic Analysis