Semrush (NASDAQ:SEMR) Shares Gap Up – Should You Buy?

Semrush Holdings, Inc. (NASDAQ:SEMR) gapped up prior to trading on Monday . The stock had previously closed at $11.50, but opened at $11.88. Semrush shares last traded at $12.55, with a volume of 103,014 shares trading hands.

Analysts Set New Price Targets

A number of equities analysts have recently issued reports on the stock. Morgan Stanley upgraded shares of Semrush from an “equal weight” rating to an “overweight” rating and raised their target price for the stock from $17.00 to $20.00 in a research report on Monday. KeyCorp raised their price objective on shares of Semrush from $19.00 to $21.00 and gave the stock an “overweight” rating in a research report on Wednesday, October 2nd. Northland Capmk raised shares of Semrush to a “strong-buy” rating in a report on Tuesday. The Goldman Sachs Group upped their price target on Semrush from $14.00 to $16.00 and gave the stock a “neutral” rating in a research note on Monday, October 7th. Finally, Needham & Company LLC reaffirmed a “buy” rating and set a $18.00 price target on shares of Semrush in a report on Wednesday. Two equities research analysts have rated the stock with a hold rating, six have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $17.13.

Semrush Stock Up 5.2 %

The stock has a fifty day moving average of $13.13 and a two-hundred day moving average of $13.57. The stock has a market cap of $1.95 billion, a price-to-earnings ratio of 166.52 and a beta of 1.62.

Insiders Place Their Bets

In related news, 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 completion of the sale, the director now owns 9,099,091 shares in the company, valued at $122,837,728.50. This trade represents a 0.46 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CMO Andrew Warden sold 8,462 shares of the company’s stock in a transaction dated Tuesday, January 7th. The stock was sold at an average price of $11.71, for a total transaction of $99,090.02. Following the transaction, the chief marketing officer now owns 276,656 shares in the company, valued at $3,239,641.76. The trade was a 2.97 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 263,711 shares of company stock worth $3,332,605. Corporate insiders own 57.83% of the company’s stock.

Hedge Funds Weigh In On Semrush

Several hedge funds have recently bought and sold shares of the company. Verition Fund Management LLC boosted its position in Semrush by 278.9% during the third quarter. Verition Fund Management LLC now owns 134,531 shares of the company’s stock worth $2,113,000 after purchasing an additional 99,021 shares in the last quarter. Barclays PLC raised 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 worth $1,609,000 after buying an additional 54,830 shares during the last quarter. VELA Investment Management LLC purchased a new stake in shares of Semrush in the 3rd quarter worth about $701,000. Renaissance Technologies LLC acquired a new stake in Semrush in the 2nd quarter valued at about $3,732,000. Finally, Cubist Systematic Strategies LLC purchased a new position in Semrush during the 2nd quarter valued at about $3,006,000. 32.86% of the stock is 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.