Semrush’s (SEMR) “Buy” Rating Reiterated at Needham & Company LLC

Needham & Company LLC reissued their buy rating on shares of Semrush (NASDAQ:SEMR) in a report issued on Wednesday,Benzinga reports. They currently have a $18.00 price objective on the stock.

A number of other equities research analysts have also recently commented on the company. JPMorgan Chase & Co. increased their target price on Semrush from $16.00 to $17.00 and gave the stock an “overweight” rating in a research note on Wednesday, October 2nd. Morgan Stanley upgraded shares of Semrush from an “equal weight” rating to an “overweight” rating and raised their price objective for the company from $17.00 to $20.00 in a research report on Monday, January 13th. KeyCorp lifted their target price on Semrush from $19.00 to $21.00 and gave the company an “overweight” rating in a research note on Wednesday, October 2nd. The Goldman Sachs Group increased their price objective on shares of Semrush from $14.00 to $16.00 and gave the company a “neutral” rating in a report on Monday, October 7th. Finally, Northland Securities started coverage on shares of Semrush in a report on Tuesday. They issued an “outperform” rating and a $18.00 target price on the stock. Two research analysts have rated the stock with a hold rating, six have issued a buy rating and one has given a strong buy rating to the company. According to MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $17.13.

Semrush Stock Up 3.5 %

NASDAQ SEMR opened at $15.67 on Wednesday. Semrush has a twelve month low of $9.64 and a twelve month high of $16.42. The firm has a market capitalization of $2.30 billion, a PE ratio of 195.95 and a beta of 1.62. The stock’s 50 day moving average is $13.22 and its 200 day moving average is $13.60.

Insiders Place Their Bets

In other news, CFO Brian Mulroy sold 3,015 shares of Semrush stock in a transaction that occurred on Monday, January 13th. The shares were sold at an average price of $12.40, for a total value of $37,386.00. Following the transaction, the chief financial officer now owns 430,196 shares of the company’s stock, valued at $5,334,430.40. The trade was a 0.70 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, Director Dmitry Melnikov sold 42,226 shares of the business’s stock in a transaction that occurred on Friday, December 13th. The stock was sold at an average price of $13.50, for a total transaction of $570,051.00. Following the transaction, the director now owns 9,099,091 shares of the company’s stock, valued at approximately $122,837,728.50. This trade represents a 0.46 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 263,711 shares of company stock valued at $3,332,605 over the last 90 days. Insiders own 57.83% of the company’s stock.

Institutional Trading of Semrush

Institutional investors have recently made changes to their positions in the business. SG Americas Securities LLC raised its stake in Semrush by 329.4% in the fourth quarter. SG Americas Securities LLC now owns 56,089 shares of the company’s stock valued at $666,000 after buying an additional 43,027 shares during the last quarter. Dakota Wealth Management purchased a new position in shares of Semrush in the 4th quarter valued at approximately $199,000. JPMorgan Chase & Co. raised its position in shares of Semrush by 0.8% in the 3rd quarter. JPMorgan Chase & Co. now owns 386,991 shares of the company’s stock valued at $6,080,000 after purchasing an additional 3,244 shares during the last quarter. Principal Financial Group Inc. acquired a new stake in Semrush in the 3rd quarter worth approximately $454,000. Finally, Virtu Financial LLC purchased a new stake in Semrush during the 3rd quarter worth approximately $158,000. Institutional investors and hedge funds own 32.86% of the company’s stock.

About Semrush

Semrush Holdings, Inc develops an online visibility management software-as-a-service platform in the United States, the United Kingdom, and internationally. The company enables companies to identify and reach the right audience for their content through the right channels. Its platform enables the company's customers to understand trends and act upon insights to enhance the online visibility, and drive traffic to their websites and social media pages, as well as online listings, distribute targeted content to their customers, and measure the digital marketing campaigns.