SEMrush (NASDAQ:SEMR) Shares Up 7.1%

Shares of SEMrush Holdings, Inc. (NASDAQ:SEMR) shot up 7.1% during trading on Wednesday . The stock traded as high as $19.59 and last traded at $19.59. 4,430 shares traded hands during trading, a decline of 99% from the average session volume of 419,514 shares. The stock had previously closed at $18.29.

Several research firms have commented on SEMR. The Goldman Sachs Group began coverage on shares of SEMrush in a research note on Monday, April 19th. They set a “neutral” rating and a $18.50 price target on the stock. JPMorgan Chase & Co. began coverage on shares of SEMrush in a research note on Monday, April 19th. They set an “overweight” rating and a $20.00 price target on the stock. Jefferies Financial Group began coverage on shares of SEMrush in a research note on Monday, April 19th. They set a “hold” rating and a $18.00 price target on the stock. KeyCorp began coverage on shares of SEMrush in a research note on Monday, April 19th. They issued an “overweight” rating and a $22.00 target price on the stock. Finally, Stifel Nicolaus began coverage on shares of SEMrush in a research note on Monday, April 19th. They issued a “hold” rating and a $18.00 target price on the stock. Three equities research analysts have rated the stock with a hold rating and three have given a buy rating to the company. The stock currently has a consensus rating of “Buy” and a consensus price target of $20.08.

The company has a 50 day simple moving average of $16.70.

SEMrush (NASDAQ:SEMR) last released its quarterly earnings results on Tuesday, May 11th. The company reported $0.01 earnings per share for the quarter, beating the consensus estimate of ($0.05) by $0.06. The company had revenue of $40.00 million during the quarter, compared to the consensus estimate of $37.55 million. As a group, equities research analysts expect that SEMrush Holdings, Inc. will post -0.09 EPS for the current fiscal year.

In related news, Director Roman Simonov purchased 13,000 shares of the business’s stock in a transaction that occurred on Monday, March 29th. The shares were acquired at an average price of $14.00 per share, for a total transaction of $182,000.00. Following the completion of the acquisition, the director now directly owns 13,000 shares in the company, valued at approximately $182,000. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link.

Several hedge funds have recently made changes to their positions in the company. Fred Alger Management LLC bought a new stake in shares of SEMrush during the 1st quarter valued at $13,116,000. B. Metzler seel. Sohn & Co. Holding AG bought a new stake in shares of SEMrush during the 1st quarter valued at $4,764,000. Ameriprise Financial Inc. bought a new stake in shares of SEMrush during the 1st quarter valued at $4,601,000. Millennium Management LLC bought a new stake in shares of SEMrush during the 1st quarter valued at $4,526,000. Finally, HBK Investments L P bought a new stake in shares of SEMrush during the 1st quarter valued at $4,169,000. Hedge funds and other institutional investors own 6.26% of the company’s stock.

SEMrush Company Profile (NASDAQ:SEMR)

SEMrush Holdings, Inc develops online visibility management software as a service (SaaS) platform. It helps businesses to run search engine optimization, pay-per-click, content, social media, and competitive research campaigns. The company offers insights and solutions to build, manage, and measure campaigns across various marketing channels.

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