Semrush (NASDAQ:SEMR) Reaches New 52-Week High – Time to Buy?

Semrush Holdings, Inc. (NASDAQ:SEMR)’s share price reached a new 52-week high during mid-day trading on Thursday . The stock traded as high as $18.01 and last traded at $18.19, with a volume of 123648 shares. The stock had previously closed at $17.42.

Wall Street Analyst Weigh In

A number of equities analysts recently commented on the stock. Northland Capmk raised shares of Semrush to a “strong-buy” rating in a research note on Tuesday, January 14th. Needham & Company LLC restated a “buy” rating and set a $18.00 target price on shares of Semrush in a research report on Wednesday, January 15th. Northland Securities began coverage on Semrush in a report on Tuesday, January 14th. They issued an “outperform” rating and a $18.00 price target on the stock. Jefferies Financial Group boosted their price objective on Semrush from $17.00 to $21.00 and gave the company a “buy” rating in a report on Monday, February 3rd. Finally, Morgan Stanley upgraded Semrush from an “equal weight” rating to an “overweight” rating and increased their target price for the stock from $17.00 to $20.00 in a research note on Monday, January 13th. Two analysts have rated the stock with a hold rating, six have issued a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $17.88.

Semrush Stock Performance

The company has a fifty day simple moving average of $14.16 and a two-hundred day simple moving average of $13.94. The firm has a market capitalization of $2.64 billion, a PE ratio of 224.00 and a beta of 1.69.

Semrush (NASDAQ:SEMR) last released its quarterly earnings data on Thursday, November 7th. The company reported $0.01 earnings per share for the quarter, missing analysts’ consensus estimates of $0.07 by ($0.06). Semrush had a return on equity of 4.93% and a net margin of 3.29%. The business had revenue of $97.41 million during the quarter, compared to analysts’ expectations of $96.49 million. During the same period last year, the company earned $0.03 earnings per share. On average, equities analysts anticipate that Semrush Holdings, Inc. will post 0.08 earnings per share for the current fiscal year.

Insider Activity

In other news, COO Vitalii Obishchenko sold 5,293 shares of the business’s stock in a transaction on Tuesday, January 7th. The stock was sold at an average price of $11.73, for a total value of $62,086.89. Following the completion of the transaction, the chief operating officer now directly owns 838,659 shares of the company’s stock, valued at approximately $9,837,470.07. The trade was a 0.63 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, Director Dmitry Melnikov sold 42,226 shares of the firm’s stock in a transaction dated Friday, December 13th. The shares were sold at an average price of $13.50, for a total value of $570,051.00. Following the sale, the director now directly owns 9,099,091 shares in the company, valued at approximately $122,837,728.50. The trade was a 0.46 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 351,090 shares of company stock worth $4,736,123. 57.83% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

Several large investors have recently modified their holdings of the company. Allspring Global Investments Holdings LLC purchased a new position in Semrush in the fourth quarter worth $6,869,000. FMR LLC boosted its position in shares of Semrush by 19.4% in the 3rd quarter. FMR LLC now owns 2,876,365 shares of the company’s stock worth $45,188,000 after purchasing an additional 467,517 shares in the last quarter. Wellington Management Group LLP boosted its position in shares of Semrush by 12.4% in the 3rd quarter. Wellington Management Group LLP now owns 1,529,624 shares of the company’s stock worth $24,030,000 after purchasing an additional 168,400 shares in the last quarter. Millennium Management LLC grew its stake in Semrush by 126.5% during the 2nd quarter. Millennium Management LLC now owns 294,374 shares of the company’s stock worth $3,942,000 after buying an additional 164,395 shares during the last quarter. Finally, Los Angeles Capital Management LLC increased its position in Semrush by 312.8% during the 4th quarter. Los Angeles Capital Management LLC now owns 201,317 shares of the company’s stock valued at $2,392,000 after buying an additional 152,548 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.