Buy Rating Affirmed for Similarweb Amid Mixed Q3 Results and Strategic Upmarket Focus
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Analyst Scott Berg of Needham reaffirmed a Buy rating on Similarweb with a $14.00 price target, citing mixed Q3 results and strategic upmarket focus. Despite revenue and cRPO growth slightly below expectations, the company showed improved profitability and strong customer metrics. Similarweb's upmarket strategy and sales adjustments have led to margin improvements, with potential for double-digit operating margins by FY 2026. Barclays also maintained a Buy rating with a $12.00 price target.
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