Similarweb (SMWB) Stock Rockets 40% After Bloomberg Data Partnership—Wall Street Pretends It Saw This Coming

Another day, another 'strategic synergy' sending a mid-cap stock into the stratosphere. Similarweb's web analytics platform just became Bloomberg Terminal's new toy—and traders are piling in like it's 2021.

The deal terms? Buried in the fine print, naturally. But when a financial data giant like Bloomberg adopts your tech, even the most cynical quant has to hit 'buy.' At least until the lock-up period expires.

Funny how these 'transformative partnerships' always seem to materialize right after earnings season. SMWB holders, enjoy the ride—just remember who's holding the stop-loss button.

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With this addition, users will see web traffic information with a seven-day lag and five-year history for roughly 3,000 companies on Bloomberg. This data can be compared with other company statistics, such as foot traffic, allowing for a better breakdown of a company’s performance in the digital age.

Similarweb Co-Founder and CEO Or Offer said, “In today’s digital-first economy, a company’s online footprint often reveals shifts in performance long before traditional indicators.” With the information Similarweb provides, Offer stated that Bloomberg Terminal users will get “a powerful edge—enabling them to spot emerging trends, benchmark competitive activity and make even more confident decisions.”

Similarweb Stock Movement Today

SMWB investors appear pleased with the Bloomberg deal, as the company’s shares have rallied 4.89% in pre-market trading following a 2.02% increase yesterday. However, the stock was still down 46.65% year-to-date, but only 1.95% over the last 12 months.

Is Similarweb Stock a Buy, Sell, or Hold?

Turning to Wall Street, the analysts’ consensus rating for Similarweb is Strong Buy, based on six Buy ratings over the past three months. With that comes an average SMWB stock price target of $12.40, representing a potential 64.02% upside for the shares.