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

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

SEMR has been the topic of several other research reports. Northland Capmk upgraded shares of Semrush to a “strong-buy” rating in a research note on Tuesday. Northland Securities assumed coverage on Semrush in a research report on Tuesday. They issued an “outperform” rating and a $18.00 price objective on the stock. The Goldman Sachs Group lifted their target price on Semrush from $14.00 to $16.00 and gave the stock a “neutral” rating in a report on Monday, October 7th. Morgan Stanley raised Semrush from an “equal weight” rating to an “overweight” rating and upped their price target for the company from $17.00 to $20.00 in a report on Monday. Finally, KeyCorp increased their price objective on Semrush from $19.00 to $21.00 and gave the company an “overweight” rating in a research report on Wednesday, October 2nd. Two analysts have rated the stock with a hold rating, six have assigned a buy rating and one has given a strong buy rating to the company. According to MarketBeat, Semrush presently has a consensus rating of “Moderate Buy” and a consensus price target of $17.13.

Semrush Price Performance

Shares of NASDAQ:SEMR opened at $14.76 on Wednesday. The company has a market capitalization of $2.17 billion, a PE ratio of 143.75 and a beta of 1.62. The business has a fifty day moving average price of $13.13 and a 200-day moving average price of $13.57. Semrush has a 1-year low of $9.64 and a 1-year high of $16.42.

Insider Buying and Selling at Semrush

In related news, President Eugenie Levin sold 6,943 shares of the business’s stock in a transaction that occurred on Tuesday, January 7th. The shares were sold at an average price of $11.74, for a total transaction of $81,510.82. Following the completion of the sale, the president now directly owns 580,549 shares in the company, valued at approximately $6,815,645.26. The trade was a 1.18 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, Director Dmitry Melnikov sold 42,226 shares of the company’s 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 sale, the director now directly owns 9,099,091 shares of the company’s stock, valued at approximately $122,837,728.50. This represents a 0.46 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 263,711 shares of company stock valued at $3,332,605. 57.83% of the stock is owned by company insiders.

Institutional Investors Weigh In On Semrush

Several hedge funds and other institutional investors have recently modified their holdings of the stock. JPMorgan Chase & Co. lifted its position in Semrush by 0.8% during the third 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 in the last quarter. Principal Financial Group Inc. bought a new position in shares of Semrush in the third quarter worth about $454,000. Virtu Financial LLC purchased a new position in shares of Semrush during the 3rd quarter valued at about $158,000. Barclays PLC grew its stake in shares of Semrush by 115.2% during the 3rd quarter. Barclays PLC now owns 102,407 shares of the company’s stock valued at $1,609,000 after acquiring an additional 54,830 shares during the period. Finally, Geode Capital Management LLC grew its stake in shares of Semrush by 4.8% during the 3rd quarter. Geode Capital Management LLC now owns 788,290 shares of the company’s stock valued at $12,387,000 after acquiring an additional 36,173 shares during the period. 32.86% of the stock is currently owned by hedge funds and other 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.