Semrush’s (SEMR) Buy Rating Reaffirmed at Needham & Company LLC

Semrush (NASDAQ:SEMR)‘s stock had its “buy” rating restated by analysts at Needham & Company LLC in a note issued to investors on Wednesday, Benzinga reports. They presently have a $18.00 target price on the stock. Needham & Company LLC’s target price indicates a potential upside of 18.11% from the company’s previous close.

Separately, KeyCorp raised 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. Three investment analysts have rated the stock with a hold rating and three have given a buy rating to the company’s stock. According to MarketBeat, Semrush has an average rating of “Moderate Buy” and an average price target of $14.67.

Semrush Price Performance

Semrush stock opened at $15.24 on Wednesday. The firm has a market capitalization of $2.23 billion, a price-to-earnings ratio of 169.33 and a beta of 1.57. The company’s 50 day simple moving average is $14.04 and its 200 day simple moving average is $13.82. Semrush has a fifty-two week low of $7.36 and a fifty-two week high of $16.42.

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

Insider Buying and Selling at Semrush

In other news, Director Dmitry Melnikov sold 64,140 shares of the company’s stock in a transaction that occurred on Wednesday, September 18th. The stock was 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. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. In other Semrush news, Director Dmitry Melnikov sold 64,140 shares of the business’s stock in a transaction dated Wednesday, September 18th. The shares were sold at an average price of $14.59, for a total value of $935,802.60. Following the completion of the sale, the director now owns 9,227,898 shares of the company’s stock, valued at approximately $134,635,031.82. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Oleg Shchegolev sold 9,451 shares of Semrush stock in a transaction on Friday, July 5th. The shares were sold at an average price of $13.59, for a total value of $128,439.09. Following the completion of the transaction, the chief executive officer now directly owns 4,387,787 shares of the company’s stock, valued at $59,630,025.33. The disclosure for this sale can be found here. Insiders have sold a total of 167,689 shares of company stock valued at $2,343,097 in the last three months. 57.83% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Semrush

A number of institutional investors have recently added to or reduced their stakes in the stock. Point72 Asset Management L.P. acquired a new position in shares of Semrush during the second quarter worth $123,000. Summit Global Investments acquired a new stake in Semrush during the 2nd quarter worth approximately $156,000. Versor Investments LP bought a new stake in shares of Semrush in the second quarter worth $174,000. The Manufacturers Life Insurance Company raised its position in shares of Semrush by 28.4% during the second quarter. The Manufacturers Life Insurance Company now owns 16,777 shares of the company’s stock worth $225,000 after acquiring an additional 3,706 shares during the last quarter. Finally, Los Angeles Capital Management LLC bought a new stake in Semrush in the second quarter valued at approximately $258,000. 32.86% of the stock is currently owned by institutional investors and hedge funds.

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.