Similarweb Ltd (SMWB) Management Meetings Convey Bullish Tone on Growth - William Blair

William Blair analyst Bhavan Suri reiterated an Outperform rating on Similarweb Ltd (NYSE: SMWB) the company hosted a series of in-person investment meetings with Similarweb CEO Or Offer and CFO Jason Schwartz.

The analyst stated "we sensed a bullish tone from management and came away from the meetings with increased confidence in the business. After a strong year of growth acceleration in 2021 (47% revenue growth, up from 32% in 2020), we believe the company is well positioned to execute in 2022 as its offering is resonating well in the market, it is moving upmarket, and sales efficiency is improving. Further, Similarweb’s planned investments this year are setting the company up for durable, long-term growth, which should enable it to hit its 2024 target of $450 million-$500 million ARR (40%-45% CAGR from here)."

For an analyst ratings summary and ratings history on Similarweb Ltd click here. For more ratings news on Similarweb Ltd click here.

Shares of Similarweb Ltd closed at $13.50 yesterday.

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