Semrush (NASDAQ:SEMR) Given New $18.00 Price Target at Needham & Company LLC

Semrush (NASDAQ:SEMR) had its price objective increased by equities research analysts at Needham & Company LLC from $15.00 to $18.00 in a report released on Wednesday, Benzinga reports. The brokerage presently has a “buy” rating on the stock. Needham & Company LLC’s target price points to a potential upside of 22.87% from the company’s current price.

Several other research analysts have also recently weighed in on SEMR. The Goldman Sachs Group upped their price target on shares of Semrush from $10.00 to $12.00 and gave the stock a “neutral” rating in a report on Tuesday, January 23rd. Jefferies Financial Group upgraded shares of Semrush from a “hold” rating to a “buy” rating and upped their target price for the stock from $9.00 to $15.00 in a research report on Wednesday, February 7th. KeyCorp assumed coverage on shares of Semrush in a research report on Thursday, March 21st. They issued an “overweight” rating and a $17.00 target price for the company. Finally, Piper Sandler cut their target price on shares of Semrush from $14.00 to $12.00 and set a “neutral” rating for the company in a research report on Wednesday, March 6th. Three equities research analysts have rated the stock with a hold rating and three have given a buy rating to the company. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $14.00.

Semrush Trading Up 11.2 %

NASDAQ:SEMR opened at $14.65 on Wednesday. The stock has a market capitalization of $2.12 billion, a PE ratio of 1,466.47 and a beta of 1.57. The firm’s 50 day moving average is $12.30 and its 200 day moving average is $11.62. Semrush has a 12 month low of $7.21 and a 12 month high of $14.80.

Semrush (NASDAQ:SEMR) last issued its earnings results on Monday, March 4th. The company reported $0.05 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.01 by $0.04. Semrush had a net margin of 0.31% and a return on equity of 0.46%. The business had revenue of $83.39 million for the quarter, compared to analysts’ expectations of $83.19 million. Research analysts predict that Semrush will post 0.12 earnings per share for the current year.

Insider Buying and Selling at Semrush

In other Semrush news, COO Vitalii Obishchenko sold 15,114 shares of the company’s stock in a transaction dated Tuesday, April 2nd. The shares were sold at an average price of $13.20, for a total transaction of $199,504.80. Following the completion of the sale, the chief operating officer now directly owns 908,663 shares in the company, valued at $11,994,351.60. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. In other news, COO Vitalii Obishchenko sold 15,114 shares of the company’s stock in a transaction dated Tuesday, April 2nd. The shares were sold at an average price of $13.20, for a total transaction of $199,504.80. Following the completion of the transaction, the chief operating officer now directly owns 908,663 shares of the company’s stock, valued at $11,994,351.60. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, CMO Andrew Warden sold 9,355 shares of the company’s stock in a transaction dated Tuesday, April 2nd. The shares were sold at an average price of $13.15, for a total transaction of $123,018.25. Following the transaction, the chief marketing officer now directly owns 265,471 shares of the company’s stock, valued at $3,490,943.65. The disclosure for this sale can be found here. Insiders sold a total of 148,697 shares of company stock worth $1,933,767 over the last three months. Company insiders own 57.83% of the company’s stock.

Hedge Funds Weigh In On Semrush

A number of institutional investors have recently bought and sold shares of the stock. Wealthsource Partners LLC raised its stake in Semrush by 1.6% in the third quarter. Wealthsource Partners LLC now owns 76,772 shares of the company’s stock worth $653,000 after buying an additional 1,182 shares in the last quarter. Harbor Capital Advisors Inc. increased its stake in shares of Semrush by 33.4% during the fourth quarter. Harbor Capital Advisors Inc. now owns 5,503 shares of the company’s stock valued at $75,000 after purchasing an additional 1,378 shares in the last quarter. Russell Investments Group Ltd. grew its holdings in shares of Semrush by 20.9% during the fourth quarter. Russell Investments Group Ltd. now owns 9,036 shares of the company’s stock valued at $123,000 after buying an additional 1,563 shares during the last quarter. Barclays PLC grew its holdings in shares of Semrush by 7.5% during the third quarter. Barclays PLC now owns 55,756 shares of the company’s stock valued at $474,000 after buying an additional 3,914 shares during the last quarter. Finally, Swiss National Bank grew its holdings in shares of Semrush by 8.1% during the fourth quarter. Swiss National Bank now owns 70,400 shares of the company’s stock valued at $962,000 after buying an additional 5,300 shares during the last quarter. 32.86% of the stock is owned by institutional investors.

Semrush Company Profile

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.