Needham & Company LLC Reiterates Buy Rating for Semrush (NASDAQ:SEMR)

Needham & Company LLC reissued their buy rating on shares of Semrush (NASDAQ:SEMR) in a report released on Monday,Benzinga reports. The firm currently has a $18.00 target price on the stock.

SEMR has been the subject of several other research reports. KeyCorp raised their price target on Semrush from $19.00 to $21.00 and gave the stock an “overweight” rating in a research report on Wednesday, October 2nd. The Goldman Sachs Group boosted their price objective on shares of Semrush from $14.00 to $16.00 and gave the company a “neutral” rating in a research report on Monday, October 7th. Finally, JPMorgan Chase & Co. increased their price objective on shares of Semrush from $16.00 to $17.00 and gave the company an “overweight” rating in a report on Wednesday, October 2nd. Two research analysts have rated the stock with a hold rating and four have issued a buy rating to the company. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $16.50.

Semrush Stock Down 4.5 %

NASDAQ SEMR opened at $13.27 on Monday. The firm has a 50 day moving average of $13.82 and a two-hundred day moving average of $14.02. Semrush has a 52 week low of $9.12 and a 52 week high of $16.42. The stock has a market capitalization of $1.94 billion, a PE ratio of 173.75 and a beta of 1.62.

Insider Buying and Selling at Semrush

In other news, Director Dmitry Melnikov sold 10,011 shares of the company’s stock in a transaction dated Thursday, August 29th. The shares were sold at an average price of $14.02, for a total value of $140,354.22. Following the sale, the director now directly owns 9,362,419 shares of the company’s stock, valued at $131,261,114.38. This represents a 0.11 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CMO Andrew Warden sold 3,953 shares of the business’s stock in a transaction on Wednesday, October 2nd. The shares were sold at an average price of $14.73, for a total transaction of $58,227.69. Following the sale, the chief marketing officer now owns 257,364 shares of the company’s stock, valued at approximately $3,790,971.72. This represents a 1.51 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 164,123 shares of company stock worth $2,320,088 over the last ninety days. 57.83% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Semrush

Several hedge funds and other institutional investors have recently bought and sold shares of SEMR. FMR LLC increased its position in shares of Semrush by 19.4% during the third quarter. FMR LLC now owns 2,876,365 shares of the company’s stock worth $45,188,000 after acquiring an additional 467,517 shares during the period. Renaissance Technologies LLC acquired a new position in shares of Semrush during the 2nd quarter valued at about $3,732,000. Federated Hermes Inc. lifted 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 acquiring an additional 236,010 shares in the last quarter. Cubist Systematic Strategies LLC acquired a new position in shares of Semrush in the second quarter worth about $3,006,000. Finally, Dimensional Fund Advisors LP raised its stake in Semrush by 69.5% during the second quarter. Dimensional Fund Advisors LP now owns 532,702 shares of the company’s stock valued at $7,132,000 after buying an additional 218,488 shares in the last quarter. Institutional investors and hedge funds own 32.86% of the company’s stock.

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.