Northland Capmk Upgrades Semrush (NASDAQ:SEMR) to “Strong-Buy”

Semrush (NASDAQ:SEMR) was upgraded by equities research analysts at Northland Capmk to a “strong-buy” rating in a research report issued to clients and investors on Tuesday,Zacks.com reports.

Several other equities analysts have also commented on SEMR. Morgan Stanley upgraded shares of Semrush from an “equal weight” rating to an “overweight” rating and increased their price target for the company from $17.00 to $20.00 in a research note on Monday. KeyCorp increased their target price on shares of Semrush from $19.00 to $21.00 and gave the company an “overweight” rating in a research report on Wednesday, October 2nd. The Goldman Sachs Group upped their price objective on shares of Semrush from $14.00 to $16.00 and gave the company a “neutral” rating in a research note on Monday, October 7th. Needham & Company LLC reiterated a “buy” rating and set a $18.00 target price on shares of Semrush in a research report on Monday, November 11th. Finally, Northland Securities started coverage on Semrush in a report on Tuesday. They issued an “outperform” rating and a $18.00 target price for the company. Two analysts have rated the stock with a hold rating, six have assigned a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $17.13.

Semrush Stock Performance

SEMR opened at $13.32 on Tuesday. Semrush has a one year low of $9.64 and a one year high of $16.42. The company has a market cap of $1.95 billion, a P/E ratio of 166.52 and a beta of 1.62. The business’s 50-day simple moving average is $13.13 and its 200-day simple moving average is $13.57.

Insider Buying and Selling

In other Semrush news, CFO Brian Mulroy sold 3,015 shares of the stock in a transaction that occurred on Monday, January 13th. The stock was sold at an average price of $12.40, for a total transaction of $37,386.00. Following the completion of the sale, the chief financial officer now directly owns 430,196 shares of the company’s stock, valued at approximately $5,334,430.40. This trade represents a 0.70 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, COO Vitalii Obishchenko sold 5,293 shares of the business’s stock in a transaction that occurred on Tuesday, January 7th. The shares were sold at an average price of $11.73, for a total value of $62,086.89. Following the completion of the transaction, the chief operating officer now directly owns 838,659 shares in the company, valued at approximately $9,837,470.07. The trade was a 0.63 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 263,711 shares of company stock valued at $3,332,605 over the last quarter. 57.83% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Semrush

Large investors have recently bought and sold shares of the company. Point72 Asset Management L.P. acquired a new position in shares of Semrush during the second quarter worth about $123,000. DRW Securities LLC purchased a new stake in Semrush in the 3rd quarter valued at approximately $157,000. Virtu Financial LLC acquired a new position in Semrush during the 3rd quarter worth approximately $158,000. Olympiad Research LP acquired a new position in Semrush during the 3rd quarter worth approximately $159,000. Finally, The Manufacturers Life Insurance Company raised its stake in shares of Semrush by 28.4% during the 2nd quarter. The Manufacturers Life Insurance Company now owns 16,777 shares of the company’s stock worth $225,000 after buying an additional 3,706 shares in the last quarter. Hedge funds and other 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.