Semrush (NASDAQ:SEMR) Coverage Initiated at Northland Securities

Investment analysts at Northland Securities assumed coverage on shares of Semrush (NASDAQ:SEMR) in a research note issued to investors on Tuesday, MarketBeat reports. The firm set an “outperform” rating and a $18.00 price target on the stock. Northland Securities’ price objective suggests a potential upside of 21.95% from the stock’s current price.

Other equities analysts also recently issued research reports about the company. JPMorgan Chase & Co. upped their target price on Semrush from $16.00 to $17.00 and gave the company an “overweight” rating in a research report on Wednesday, October 2nd. KeyCorp upped their price objective on Semrush from $19.00 to $21.00 and gave the company an “overweight” rating in a report on Wednesday, October 2nd. Needham & Company LLC reiterated a “buy” rating and set a $18.00 price objective on shares of Semrush in a research report on Monday, November 11th. The Goldman Sachs Group upped their price target on shares of Semrush from $14.00 to $16.00 and gave the company a “neutral” rating in a research note on Monday, October 7th. Finally, Morgan Stanley raised shares of Semrush from an “equal weight” rating to an “overweight” rating and raised their price target for the stock from $17.00 to $20.00 in a research report on Monday. Two equities research analysts have rated the stock with a hold rating, six have issued a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $17.13.

Semrush Stock Performance

Shares of SEMR stock opened at $14.76 on Tuesday. The company has a market capitalization of $2.17 billion, a price-to-earnings ratio of 184.52 and a beta of 1.62. Semrush has a 52 week low of $9.64 and a 52 week high of $16.42. The company has a 50-day simple moving average of $13.13 and a 200 day simple moving average of $13.57.

Insiders Place Their Bets

In related news, CFO Brian Mulroy sold 3,015 shares of the stock in a transaction that occurred on Monday, January 13th. The shares were sold at an average price of $12.40, for a total transaction of $37,386.00. Following the sale, the chief financial officer now owns 430,196 shares in the company, valued at approximately $5,334,430.40. This trade represents a 0.70 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CMO Andrew Warden sold 8,462 shares of Semrush stock in a transaction that occurred on 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 directly owns 276,656 shares in the company, valued at $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 have sold 263,711 shares of company stock worth $3,332,605 over the last ninety days. Corporate insiders own 57.83% of the company’s stock.

Institutional Trading of Semrush

Institutional investors and hedge funds have recently modified their holdings of the business. FMR LLC grew its position in Semrush by 19.4% in the third quarter. FMR LLC now owns 2,876,365 shares of the company’s stock valued at $45,188,000 after acquiring an additional 467,517 shares during the last quarter. Renaissance Technologies LLC bought a new stake in shares of Semrush during the 2nd quarter valued at approximately $3,732,000. Federated Hermes Inc. grew its holdings in shares of Semrush by 385.0% during the 2nd quarter. Federated Hermes Inc. now owns 297,311 shares of the company’s stock valued at $3,981,000 after purchasing an additional 236,010 shares during the last quarter. Cubist Systematic Strategies LLC bought a new stake in shares of Semrush during the 2nd quarter valued at approximately $3,006,000. Finally, Dimensional Fund Advisors LP lifted its stake in Semrush by 69.5% in the 2nd quarter. Dimensional Fund Advisors LP now owns 532,702 shares of the company’s stock valued at $7,132,000 after purchasing an additional 218,488 shares during the last quarter. 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.