Needham & Company LLC Reaffirms Buy Rating for Semrush (NASDAQ:SEMR)

Needham & Company LLC reissued their buy rating on shares of Semrush (NASDAQ:SEMR) in a research note issued to investors on Monday morning,Benzinga reports. Needham & Company LLC currently has a $18.00 target price on the stock.

Several other equities analysts have also commented on SEMR. JPMorgan Chase & Co. raised 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. The Goldman Sachs Group lifted their price target 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, KeyCorp lifted their price target on shares of Semrush from $19.00 to $21.00 and gave the company an “overweight” rating in a report on Wednesday, October 2nd. Two analysts have rated the stock with a hold rating and four have issued a buy rating to the company’s stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $16.50.

Semrush Stock Up 5.9 %

SEMR stock opened at $14.04 on Monday. Semrush has a 12 month low of $8.41 and a 12 month high of $16.42. The firm has a market cap of $2.06 billion, a P/E ratio of 175.50 and a beta of 1.62. The company’s 50-day moving average price is $13.79 and its two-hundred day moving average price is $14.01.

Insiders Place Their Bets

In other Semrush news, CFO Brian Mulroy sold 4,207 shares of the business’s stock in a transaction that occurred on Friday, October 11th. The shares were sold at an average price of $13.12, for a total transaction of $55,195.84. Following the sale, the chief financial officer now directly owns 433,211 shares of the company’s stock, valued at $5,683,728.32. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. In other news, CFO Brian Mulroy sold 4,207 shares of the business’s stock in a transaction that occurred on Friday, October 11th. The shares were sold at an average price of $13.12, for a total value of $55,195.84. Following the transaction, the chief financial officer now owns 433,211 shares in the company, valued at approximately $5,683,728.32. The trade was a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, President Eugenie Levin sold 3,788 shares of the business’s stock in a transaction on Wednesday, October 2nd. The shares were sold at an average price of $14.12, for a total transaction of $53,486.56. Following the transaction, the president now owns 601,892 shares in the company, valued at $8,498,715.04. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 172,789 shares of company stock valued at $2,441,412 in the last ninety days. 57.83% of the stock is currently owned by insiders.

Institutional Trading of Semrush

A number of hedge funds and other institutional investors have recently bought and sold shares of the business. The Manufacturers Life Insurance Company increased its stake in Semrush by 28.4% during the 2nd quarter. The Manufacturers Life Insurance Company now owns 16,777 shares of the company’s stock valued at $225,000 after purchasing an additional 3,706 shares in the last quarter. Point72 Asset Management L.P. bought a new stake in Semrush during the 2nd quarter valued at $123,000. Olympiad Research LP bought a new stake in Semrush during the 3rd quarter valued at $159,000. Algert Global LLC increased its stake in Semrush by 13.8% during the 2nd quarter. Algert Global LLC now owns 84,931 shares of the company’s stock valued at $1,137,000 after purchasing an additional 10,282 shares in the last quarter. Finally, SkyView Investment Advisors LLC increased its stake in Semrush by 5.1% during the 2nd quarter. SkyView Investment Advisors LLC now owns 216,282 shares of the company’s stock valued at $2,896,000 after purchasing an additional 10,455 shares in the last quarter. Institutional investors 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.