Semrush’s (SEMR) “Buy” Rating Reiterated at Needham & Company LLC

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

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

Semrush Trading Down 0.7 %

Shares of SEMR stock opened at $13.90 on Monday. Semrush has a 12 month low of $9.03 and a 12 month high of $16.42. The company has a market cap of $2.03 billion, a P/E ratio of 173.71 and a beta of 1.62. The firm has a fifty day moving average price of $13.82 and a 200 day moving average price of $14.02.

Insider Transactions at Semrush

In other Semrush news, Director Dmitry Melnikov sold 8,666 shares of the company’s stock in a transaction that occurred on Friday, August 16th. The stock was sold at an average price of $14.00, for a total transaction of $121,324.00. Following the completion of the sale, the director now directly owns 9,372,430 shares of the company’s stock, valued at $131,214,020. This represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. In related news, President Eugenie Levin sold 3,788 shares of the company’s stock in a transaction 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 transaction, the president now owns 601,892 shares of the company’s stock, valued at $8,498,715.04. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, Director Dmitry Melnikov sold 8,666 shares of the business’s stock in a transaction on Friday, August 16th. The stock was sold at an average price of $14.00, for a total transaction of $121,324.00. Following the sale, the director now owns 9,372,430 shares in the company, valued at $131,214,020. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders sold 172,789 shares of company stock worth $2,441,412. Company insiders own 57.83% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of SEMR. The Manufacturers Life Insurance Company grew its holdings in Semrush by 28.4% in the second 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 during the period. The Manufacturers Life Insurance Company grew its stake in shares of Semrush by 30.2% during the 3rd quarter. The Manufacturers Life Insurance Company now owns 21,845 shares of the company’s stock valued at $343,000 after buying an additional 5,068 shares during the period. Point72 Asset Management L.P. acquired a new stake in shares of Semrush during the 2nd quarter worth $123,000. DRW Securities LLC purchased a new position in shares of Semrush in the 3rd quarter worth $157,000. Finally, Olympiad Research LP purchased a new stake in Semrush during the third quarter valued at about $159,000. 32.86% of the stock is currently owned by institutional investors and hedge funds.

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.