Semrush (NASDAQ:SEMR) Receives Buy Rating from Needham & Company LLC

Needham & Company LLC restated their buy rating on shares of Semrush (NASDAQ:SEMR) in a research report report published on Monday morning,Benzinga reports. Needham & Company LLC currently has a $18.00 price objective on the stock.

A number of other equities research analysts also recently issued reports on the stock. JPMorgan Chase & Co. boosted their target price on shares of Semrush from $16.00 to $17.00 and gave the company an “overweight” rating in a report on Wednesday, October 2nd. KeyCorp raised their price target on Semrush from $19.00 to $21.00 and gave the stock an “overweight” rating in a report on Wednesday, October 2nd. Finally, The Goldman Sachs Group raised their price objective on shares of Semrush from $14.00 to $16.00 and gave the company a “neutral” rating in a research note on Monday, October 7th. Two equities research analysts have rated the stock with a hold rating and four have assigned a buy rating to the stock. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $16.50.

Semrush Price Performance

Shares of SEMR opened at $13.27 on Monday. Semrush has a 1-year low of $9.12 and a 1-year high of $16.42. The stock has a market cap of $1.94 billion, a PE ratio of 173.75 and a beta of 1.62. The firm has a 50-day simple moving average of $13.82 and a two-hundred day simple moving average of $14.02.

Insider Buying and Selling at Semrush

In other news, CEO Oleg Shchegolev sold 8,964 shares of the firm’s stock in a transaction that occurred on Wednesday, October 2nd. The stock was sold at an average price of $14.14, for a total value of $126,750.96. Following the transaction, the chief executive officer now owns 4,378,823 shares in the company, valued at $61,916,557.22. This trade represents a 0.20 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, CFO Brian Mulroy sold 4,207 shares of the business’s stock in a transaction dated Friday, October 11th. The stock was sold at an average price of $13.12, for a total transaction of $55,195.84. Following the completion of the transaction, the chief financial officer now directly owns 433,211 shares in the company, valued at $5,683,728.32. This trade represents a 0.96 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 164,123 shares of company stock valued at $2,320,088 in the last three months. 57.83% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Semrush

A number of hedge funds and other institutional investors have recently bought and sold shares of the stock. Point72 Asset Management L.P. purchased a new stake in Semrush in the second quarter worth about $123,000. Summit Global Investments purchased a new stake in Semrush in the second quarter worth about $156,000. DRW Securities LLC purchased a new position in shares of Semrush during the 3rd quarter valued at $157,000. Olympiad Research LP purchased a new position in Semrush in the 3rd quarter worth approximately $159,000. Finally, Versor Investments LP bought a new position in shares of Semrush during the 2nd quarter valued at about $174,000. Hedge funds and other institutional investors own 32.86% of the company’s stock.

Semrush Company Profile

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.