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

Needham & Company LLC reiterated their buy rating on shares of Semrush (NASDAQ:SEMR) in a research report sent to investors on Tuesday morning, Benzinga reports. They currently have a $18.00 target price on the stock.

Several other equities analysts have also recently weighed in on SEMR. KeyCorp increased their price objective on shares of Semrush from $19.00 to $21.00 and gave the stock an “overweight” rating in a research note on Wednesday, October 2nd. The Goldman Sachs Group lifted their price target on shares of Semrush from $14.00 to $16.00 and gave the stock a “neutral” rating in a research note on Monday, October 7th. Finally, 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 report on Wednesday, October 2nd. Three equities research analysts have rated the stock with a hold rating and four have assigned a buy rating to the stock. Based on data from MarketBeat, Semrush currently has an average rating of “Moderate Buy” and a consensus target price of $15.57.

Semrush Price Performance

Shares of SEMR opened at $13.11 on Tuesday. The firm’s 50 day simple moving average is $13.82 and its 200 day simple moving average is $13.90. Semrush has a 1-year low of $7.36 and a 1-year high of $16.42. The company has a market capitalization of $1.92 billion, a P/E ratio of 131.10 and a beta of 1.58.

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

Insider Activity at Semrush

In related news, Director Dmitry Melnikov sold 8,666 shares of the 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 of the company’s stock, valued at $131,214,020. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. In other Semrush news, COO Vitalii Obishchenko sold 55,000 shares of the company’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 $11,401,035.89. This represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, Director Dmitry Melnikov sold 8,666 shares of Semrush stock in a transaction that occurred on Friday, August 16th. The stock was sold at an average price of $14.00, for a total value of $121,324.00. Following the completion of the transaction, the director now owns 9,372,430 shares of the company’s stock, valued at approximately $131,214,020. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 171,200 shares of company stock valued at $2,420,533 in the last three months. 57.83% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently bought and sold shares of the company. Point72 Asset Management L.P. bought a new stake in Semrush during the second quarter worth approximately $123,000. Summit Global Investments acquired a new stake in Semrush during the second quarter valued at $156,000. Olympiad Research LP bought a new stake in Semrush in the third quarter worth approximately $159,000. Versor Investments LP acquired a new position in shares of Semrush during the 2nd quarter valued at about $174,000. Finally, The Manufacturers Life Insurance Company raised its position in shares of 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. 32.86% of the stock is 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.