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 released on Tuesday morning, Benzinga reports. The brokerage currently has a $18.00 target price on the stock.

A number of other equities analysts also recently weighed in on SEMR. JPMorgan Chase & Co. upped their price target on shares of Semrush from $16.00 to $17.00 and gave the stock an “overweight” rating in a research note on Wednesday, October 2nd. The Goldman Sachs Group boosted their target price on Semrush from $14.00 to $16.00 and gave the company a “neutral” rating in a research note on Monday, October 7th. Finally, KeyCorp raised their price target on Semrush from $19.00 to $21.00 and gave the stock an “overweight” rating in a research note on Wednesday, October 2nd. Three investment analysts have rated the stock with a hold rating and four have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $15.57.

Semrush Price Performance

NASDAQ:SEMR opened at $13.15 on Tuesday. The stock has a market cap of $1.93 billion, a PE ratio of 131.50 and a beta of 1.58. Semrush has a fifty-two week low of $7.36 and a fifty-two week high of $16.42. The stock’s 50-day moving average is $13.84 and its two-hundred day moving average is $13.91.

Semrush (NASDAQ:SEMR) last announced its quarterly earnings data on Monday, August 5th. The company reported $0.01 EPS for the quarter, missing analysts’ consensus estimates of $0.03 by ($0.02). The company had revenue of $90.95 million for the quarter, compared to analysts’ expectations of $89.70 million. Semrush had a net margin of 4.39% and a return on equity of 6.61%. On average, equities research analysts anticipate that Semrush will post 0.08 earnings per share for the current year.

Insider Transactions at Semrush

In related news, COO Vitalii Obishchenko sold 55,000 shares of the firm’s stock in a transaction that occurred on Wednesday, September 11th. The stock was sold at an average price of $13.43, for a total value of $738,650.00. Following the transaction, the chief operating officer now directly owns 848,923 shares of the company’s stock, valued at approximately $11,401,035.89. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. In related news, COO Vitalii Obishchenko sold 55,000 shares of the firm’s stock in a transaction on Wednesday, September 11th. The shares were sold at an average price of $13.43, for a total value of $738,650.00. Following the transaction, the chief operating officer now directly owns 848,923 shares in the company, valued at approximately $11,401,035.89. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, CMO Andrew Warden sold 3,953 shares of the business’s stock in a transaction on Wednesday, October 2nd. The stock was sold at an average price of $14.73, for a total transaction of $58,227.69. Following the transaction, the chief marketing officer now directly owns 257,364 shares of the company’s stock, valued at approximately $3,790,971.72. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 172,867 shares of company stock worth $2,442,987. 57.83% of the stock is owned by corporate insiders.

Institutional Trading of Semrush

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the business. VELA Investment Management LLC bought a new stake in shares of Semrush in the third quarter valued at approximately $701,000. Cubist Systematic Strategies LLC acquired a new position in shares of Semrush during the second quarter valued at about $3,006,000. Point72 Asset Management L.P. bought a new stake in shares of Semrush in the second quarter valued at about $123,000. Algert Global LLC grew its position in Semrush by 13.8% during the second quarter. Algert Global LLC now owns 84,931 shares of the company’s stock worth $1,137,000 after buying an additional 10,282 shares in the last quarter. Finally, SkyView Investment Advisors LLC grew its position in Semrush by 5.1% during the second quarter. SkyView Investment Advisors LLC now owns 216,282 shares of the company’s stock worth $2,896,000 after buying an additional 10,455 shares in the last quarter. 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.