Semrush (NASDAQ:SEMR) Research Coverage Started at Northland Securities

Northland Securities assumed coverage on shares of Semrush (NASDAQ:SEMR) in a report released on Tuesday, Marketbeat Ratings reports. The brokerage issued an outperform rating and a $18.00 price target on the stock.

Other research analysts have also issued reports about the company. Needham & Company LLC reissued a “buy” rating and issued a $18.00 price objective on shares of Semrush in a report on Monday, November 11th. KeyCorp increased their target price on Semrush from $19.00 to $21.00 and gave the company an “overweight” rating in a research report on Wednesday, October 2nd. Morgan Stanley upgraded Semrush from an “equal weight” rating to an “overweight” rating and raised their target price for the company from $17.00 to $20.00 in a research report on Monday. JPMorgan Chase & Co. raised their target price on shares of Semrush from $16.00 to $17.00 and gave the stock an “overweight” rating in a research note on Wednesday, October 2nd. Finally, The Goldman Sachs Group boosted their target price on shares of Semrush from $14.00 to $16.00 and gave the company a “neutral” rating in a report on Monday, October 7th. Two investment 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 company’s stock. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $17.13.

Semrush Price Performance

Semrush stock opened at $15.22 on Tuesday. The business has a fifty day moving average price of $13.15 and a 200-day moving average price of $13.58. The stock has a market capitalization of $2.23 billion, a price-to-earnings ratio of 190.22 and a beta of 1.62. Semrush has a 1-year low of $9.64 and a 1-year high of $16.42.

Insider Buying and Selling at Semrush

In other news, Director Dmitry Melnikov sold 42,226 shares of the firm’s stock in a transaction 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 approximately $122,837,728.50. This trade represents a 0.46 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Oleg Shchegolev sold 6,859 shares of Semrush stock in a transaction dated Tuesday, January 7th. The stock was sold at an average price of $11.71, for a total value of $80,318.89. Following the sale, the chief executive officer now directly owns 7,301,214 shares of the company’s stock, valued at $85,497,215.94. This trade represents a 0.09 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 263,711 shares of company stock valued at $3,332,605 in the last 90 days. Company insiders own 57.83% of the company’s stock.

Institutional Inflows and Outflows

Institutional investors have recently added to or reduced their stakes in the company. Point72 Asset Management L.P. acquired a new position in Semrush in the 2nd quarter valued at $123,000. DRW Securities LLC acquired a new position in shares of Semrush in the third quarter worth $157,000. Virtu Financial LLC purchased a new position in Semrush in the 3rd quarter valued at about $158,000. Olympiad Research LP purchased a new stake in Semrush in the 3rd quarter worth approximately $159,000. Finally, The Manufacturers Life Insurance Company lifted 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 worth $225,000 after buying an additional 3,706 shares during the period. 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.