Goldman Sachs Initiates Similarweb Coverage, Product Upgrades Inspire Bullish Take

Goldman Sachs analyst Adam Hotchkiss initiated coverage on Similarweb Ltd SMWB with a Buy rating and a price target of $16.Similarweb’s historical growth and profitability challenges have generally driven a growth-relative discount for the company’s shares to similar growth software companies, Hotchkiss noted. But recent go-to-market initiatives (i.e., Similarweb 3.0) are likely to drive sustainable mid-to-high teens growth with improving margins. This likely will lead to share price outperformance over the ...