Semrush (NASDAQ:SEMR) Price Target Increased to $21.00 by Analysts at KeyCorp

Semrush (NASDAQ:SEMR) had its price objective hoisted by investment analysts at KeyCorp from $19.00 to $21.00 in a research report issued to clients and investors on Wednesday, Benzinga reports. The firm currently has an “overweight” rating on the stock. KeyCorp’s target price suggests a potential upside of 37.80% from the stock’s previous close.

Separately, Needham & Company LLC reaffirmed a “buy” rating and set a $18.00 price target on shares of Semrush in a research note on Wednesday, August 7th. Three research analysts have rated the stock with a hold rating and three have issued a buy rating to the company’s stock. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $14.67.

Semrush Stock Performance

Shares of NASDAQ:SEMR opened at $15.24 on Wednesday. The company has a market capitalization of $2.23 billion, a PE ratio of 169.33 and a beta of 1.57. The stock has a fifty day moving average of $14.04 and a 200-day moving average of $13.82. Semrush has a one year low of $7.36 and a one year high of $16.42.

Semrush (NASDAQ:SEMR) last issued its earnings results on Monday, August 5th. The company reported $0.01 EPS for the quarter, missing the consensus estimate of $0.03 by ($0.02). The business had revenue of $90.95 million during the quarter, compared to analyst estimates of $89.70 million. Semrush had a return on equity of 6.61% and a net margin of 4.39%. As a group, research analysts forecast that Semrush will post 0.08 EPS for the current fiscal year.

Insider Buying and Selling at Semrush

In related news, CMO Andrew Warden sold 4,154 shares of the company’s stock in a transaction dated Friday, July 5th. The stock was sold at an average price of $13.69, for a total value of $56,868.26. Following the completion of the sale, the chief marketing officer now owns 261,317 shares in the company, valued at $3,577,429.73. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. In other Semrush news, Director Dmitry Melnikov sold 1,896 shares of Semrush stock in a transaction that occurred on Friday, July 5th. The shares were sold at an average price of $13.63, for a total value of $25,842.48. Following the transaction, the director now owns 2,982,291 shares of the company’s stock, valued at $40,648,626.33. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CMO Andrew Warden sold 4,154 shares of the company’s stock in a transaction on Friday, July 5th. The stock was sold at an average price of $13.69, for a total transaction of $56,868.26. Following the completion of the transaction, the chief marketing officer now directly owns 261,317 shares of the company’s stock, valued at $3,577,429.73. The disclosure for this sale can be found here. In the last 90 days, insiders sold 167,689 shares of company stock worth $2,343,097. Insiders own 57.83% of the company’s stock.

Institutional Investors Weigh In On Semrush

Hedge funds and other institutional investors have recently bought and sold shares of the company. Point72 Asset Management L.P. bought a new stake in shares of Semrush in the second quarter worth $123,000. Summit Global Investments bought a new stake in Semrush during the second quarter worth about $156,000. Versor Investments LP acquired a new position in Semrush during the second quarter valued at approximately $174,000. 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 purchasing an additional 3,706 shares in the last quarter. Finally, Los Angeles Capital Management LLC bought a new stake in shares of Semrush during the 2nd quarter worth approximately $258,000. Institutional investors and hedge funds 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.