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

Semrush (NASDAQ:SEMR)‘s stock had its “buy” rating reiterated by equities research analysts at Needham & Company LLC in a research note issued to investors on Wednesday,Benzinga reports. They presently have a $18.00 price target on the stock. Needham & Company LLC’s price target points to a potential upside of 35.14% from the stock’s current price.

SEMR has been the subject of several other reports. Northland Securities started coverage on Semrush in a research note on Tuesday. They set an “outperform” rating and a $18.00 target price for the company. The Goldman Sachs Group upped 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. JPMorgan Chase & Co. lifted their target price on shares of Semrush from $16.00 to $17.00 and gave the stock an “overweight” rating in a report on Wednesday, October 2nd. Morgan Stanley upgraded Semrush from an “equal weight” rating to an “overweight” rating and boosted their price objective for the stock from $17.00 to $20.00 in a report on Monday. Finally, Northland Capmk upgraded Semrush to a “strong-buy” rating in a research note on Tuesday. Two 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 data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $17.13.

Semrush Stock Performance

Semrush stock opened at $13.32 on Wednesday. The stock has a 50-day simple moving average of $13.13 and a 200 day simple moving average of $13.57. The stock has a market capitalization of $1.95 billion, a P/E ratio of 166.52 and a beta of 1.62. Semrush has a 52 week low of $9.64 and a 52 week high of $16.42.

Insider Activity at Semrush

In other news, CFO Brian Mulroy sold 3,015 shares of the business’s 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 completion of the transaction, the chief financial officer now directly owns 430,196 shares in the company, valued at approximately $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 can be accessed through this hyperlink. Also, Director Dmitry Melnikov sold 42,226 shares of Semrush stock in a transaction that occurred on Friday, December 13th. The shares were sold at an average price of $13.50, for a total transaction of $570,051.00. Following the completion of the transaction, the director now directly owns 9,099,091 shares in the company, valued at $122,837,728.50. This trade represents a 0.46 % decrease in their ownership of the stock. 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 quarter. 57.83% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Semrush

Several hedge funds and other institutional investors have recently made changes to their positions in SEMR. JPMorgan Chase & Co. lifted its stake in 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. The Manufacturers Life Insurance Company increased its holdings in shares of Semrush by 28.4% during the second quarter. The Manufacturers Life Insurance Company now owns 16,777 shares of the company’s stock worth $225,000 after buying an additional 3,706 shares in the last quarter. Point72 Asset Management L.P. bought a new position in shares of Semrush in the 2nd quarter valued at $123,000. DRW Securities LLC acquired a new stake in shares of Semrush during the 3rd quarter valued at $157,000. Finally, Virtu Financial LLC bought a new stake in Semrush during the 3rd quarter worth $158,000. 32.86% of the stock is owned by institutional investors.

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.