Semrush (NASDAQ:SEMR) Sets New 12-Month High – What’s Next?

Shares of Semrush Holdings, Inc. (NASDAQ:SEMR) hit a new 52-week high during mid-day trading on Wednesday . The stock traded as high as $18.74 and last traded at $18.06, with a volume of 539730 shares changing hands. The stock had previously closed at $18.37.

Analysts Set New Price Targets

A number of analysts have weighed in on SEMR shares. Jefferies Financial Group increased their price objective on Semrush from $17.00 to $21.00 and gave the stock a “buy” rating in a research report on Monday, February 3rd. Needham & Company LLC reissued a “buy” rating and issued a $18.00 price objective on shares of Semrush in a research note on Wednesday, January 15th. Northland Securities initiated coverage on shares of Semrush in a report on Tuesday, January 14th. They issued an “outperform” rating and a $18.00 target price on the stock. Northland Capmk upgraded shares of Semrush to a “strong-buy” rating in a research report on Tuesday, January 14th. Finally, Morgan Stanley upgraded Semrush from an “equal weight” rating to an “overweight” rating and boosted their target price for the stock from $17.00 to $20.00 in a research report on Monday, January 13th. Two research analysts have rated the stock with a hold rating, six have issued a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, Semrush presently has a consensus rating of “Moderate Buy” and an average target price of $17.88.

Semrush Stock Performance

The firm has a market cap of $2.65 billion, a price-to-earnings ratio of 225.77 and a beta of 1.69. The business has a fifty day moving average of $14.34 and a two-hundred day moving average of $13.98.

Insider Activity

In other news, Director Dmitry Melnikov sold 42,226 shares of the stock in a transaction that occurred on Friday, December 13th. The shares were sold at an average price of $13.50, for a total value of $570,051.00. Following the sale, the director now directly owns 9,099,091 shares in the company, valued at $122,837,728.50. This represents a 0.46 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, President Eugenie Levin sold 43,200 shares of Semrush stock in a transaction that occurred on Friday, January 17th. The stock was sold at an average price of $15.39, for a total value of $664,848.00. Following the transaction, the president now owns 537,349 shares of the company’s stock, valued at $8,269,801.11. This represents a 7.44 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 351,090 shares of company stock worth $4,736,123 over the last 90 days. 57.83% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Semrush

A number of hedge funds and other institutional investors have recently modified their holdings of the company. US Bancorp DE raised its holdings in Semrush by 2,127.2% in the 4th quarter. US Bancorp DE now owns 3,608 shares of the company’s stock valued at $43,000 after acquiring an additional 3,446 shares during the last quarter. KLP Kapitalforvaltning AS acquired a new position in Semrush in the fourth quarter valued at $71,000. Arizona State Retirement System purchased a new position in Semrush during the fourth quarter worth about $128,000. Stoneridge Investment Partners LLC acquired a new stake in Semrush in the 4th quarter worth about $135,000. Finally, DRW Securities LLC purchased a new stake in Semrush in the 3rd quarter valued at about $157,000. 32.86% of the stock is currently owned by hedge funds and other 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.