Semrush (NASDAQ:SEMR) Receives Buy Rating from Needham & Company LLC

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

Separately, 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. Three investment analysts have rated the stock with a hold rating and four have given a buy rating to the company’s stock. According to MarketBeat.com, the stock currently has a consensus rating of Moderate Buy and an average price target of $15.00.

Semrush Stock Performance

Shares of Semrush stock opened at $14.43 on Wednesday. The stock’s fifty day moving average is $14.03 and its 200 day moving average is $13.85. Semrush has a one year low of $7.36 and a one year high of $16.42. The stock has a market cap of $2.11 billion, a P/E ratio of 160.33 and a beta of 1.58.

Semrush (NASDAQ:SEMR) last posted its quarterly earnings data on Monday, August 5th. The company reported $0.01 earnings per share for the quarter, missing analysts’ consensus estimates of $0.03 by ($0.02). The company had revenue of $90.95 million for the quarter, compared to analysts’ expectations of $89.70 million. Semrush had a net margin of 4.39% and a return on equity of 6.61%. Analysts predict that Semrush will post 0.08 EPS for the current year.

Insider Activity

In related news, Director Dmitry Melnikov sold 64,140 shares of the company’s stock in a transaction on Wednesday, September 18th. The shares were sold at an average price of $14.59, for a total transaction of $935,802.60. Following the completion of the transaction, the director now owns 9,227,898 shares in the company, valued at approximately $134,635,031.82. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other Semrush news, CFO Brian Mulroy sold 4,207 shares of Semrush stock in a transaction that occurred on Thursday, July 11th. The stock was sold at an average price of $13.67, for a total value of $57,509.69. Following the sale, the chief financial officer now owns 437,418 shares of the company’s stock, valued at $5,979,504.06. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, Director Dmitry Melnikov sold 64,140 shares of the stock in a transaction that occurred on Wednesday, September 18th. The shares were sold at an average price of $14.59, for a total value of $935,802.60. Following the transaction, the director now owns 9,227,898 shares of the company’s stock, valued at $134,635,031.82. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 151,191 shares of company stock worth $2,132,420 over the last quarter. Insiders own 57.83% of the company’s stock.

Institutional Investors Weigh In On Semrush

Several large investors have recently bought and sold shares of the business. Point72 Asset Management L.P. purchased a new position in shares of Semrush in the 2nd quarter worth $123,000. Summit Global Investments purchased a new position in Semrush in the second quarter worth about $156,000. Versor Investments LP bought a new stake in Semrush during the second quarter worth approximately $174,000. The Manufacturers Life Insurance Company raised its position in Semrush by 28.4% during 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. Finally, Los Angeles Capital Management LLC bought a new stake in shares of Semrush in the 2nd quarter valued at approximately $258,000. 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.