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

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

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

Semrush Trading Up 10.7 %

Shares of SEMR stock opened at $14.76 on Tuesday. The firm has a market capitalization of $2.17 billion, a P/E ratio of 184.52 and a beta of 1.62. Semrush has a 1 year low of $9.64 and a 1 year high of $16.42. The firm’s fifty day simple moving average is $13.13 and its 200 day simple moving average is $13.57.

Insider Buying and Selling

In related news, Director Dmitry Melnikov sold 42,226 shares of Semrush stock in a transaction dated Friday, December 13th. The shares were sold at an average price of $13.50, for a total transaction of $570,051.00. Following the completion of the transaction, the director now directly owns 9,099,091 shares of the company’s stock, valued at $122,837,728.50. This trade represents a 0.46 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CMO Andrew Warden sold 8,462 shares of the business’s stock in a transaction dated Tuesday, January 7th. The shares were sold at an average price of $11.71, for a total transaction of $99,090.02. Following the completion of the transaction, the chief marketing officer now owns 276,656 shares in the company, valued at approximately $3,239,641.76. This trade represents a 2.97 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 263,711 shares of company stock worth $3,332,605 in the last 90 days. 57.83% of the stock is owned by company insiders.

Institutional Inflows and Outflows

A number of hedge funds have recently bought and sold shares of the company. JPMorgan Chase & Co. lifted its stake in shares of Semrush by 0.8% in the 3rd quarter. JPMorgan Chase & Co. now owns 386,991 shares of the company’s stock valued at $6,080,000 after purchasing an additional 3,244 shares during the period. The Manufacturers Life Insurance Company lifted its holdings 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 acquiring an additional 3,706 shares in the last quarter. Point72 Asset Management L.P. bought a new position in shares of Semrush during the 2nd quarter valued at about $123,000. DRW Securities LLC acquired a new position in shares of Semrush in the third quarter valued at approximately $157,000. Finally, Virtu Financial LLC bought a new stake in shares of Semrush during the third quarter worth $158,000. 32.86% of the stock is currently owned by 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.