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 published on Monday,Benzinga reports. Needham & Company LLC currently has a $18.00 price target on the stock.

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

Semrush Trading Down 0.7 %

NASDAQ SEMR opened at $13.90 on Monday. Semrush has a 52 week low of $9.03 and a 52 week high of $16.42. The stock has a market cap of $2.03 billion, a P/E ratio of 173.71 and a beta of 1.62. The company’s fifty day simple moving average is $13.82 and its 200-day simple moving average is $14.02.

Insider Activity at Semrush

In other news, President Eugenie Levin sold 3,788 shares of the company’s stock in a transaction that occurred on Wednesday, October 2nd. The stock was sold at an average price of $14.12, for a total transaction of $53,486.56. Following the completion of the transaction, the president now directly owns 601,892 shares of the company’s stock, valued at approximately $8,498,715.04. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. In other Semrush news, Director Dmitry Melnikov sold 64,140 shares of the firm’s stock in a transaction dated Wednesday, September 18th. The shares were sold at an average price of $14.59, for a total transaction of $935,802.60. Following the transaction, the director now owns 9,227,898 shares of the company’s stock, valued at approximately $134,635,031.82. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, President Eugenie Levin sold 3,788 shares of the company’s stock in a transaction that occurred on Wednesday, October 2nd. The stock was sold at an average price of $14.12, for a total transaction of $53,486.56. Following the completion of the sale, the president now directly owns 601,892 shares of the company’s stock, valued at approximately $8,498,715.04. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 172,789 shares of company stock valued at $2,441,412 in the last quarter. Insiders own 57.83% of the company’s stock.

Hedge Funds Weigh In On Semrush

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Point72 Asset Management L.P. acquired a new stake in shares of Semrush in the second quarter valued at $123,000. Summit Global Investments bought a new stake in shares of Semrush in the 2nd quarter worth approximately $156,000. DRW Securities LLC acquired a new stake in Semrush during the third quarter valued at approximately $157,000. Olympiad Research LP bought a new stake in Semrush during the third quarter worth approximately $159,000. Finally, Versor Investments LP acquired a new position in Semrush in the second quarter worth approximately $174,000. 32.86% of the stock is owned by institutional investors.

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.