Similarweb Shares Plunge 5.15% After Goldman Sachs Cuts Price Target

Similarweb (SMWB) shares plummeted by 5.15%, reaching their lowest level since August 2024, with an intraday decline of 5.72%.

One of the primary factors influencing the recent decline in Similarweb's stock price is the recent action by The Goldman Sachs Group. The investment bank reduced its price target for Similarweb shares from $15.00 to $13.00, while maintaining a "buy" rating. This adjustment in the price target likely impacted investor sentiment, contributing to the fluctuations in the stock price.