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

Northland Capmk upgraded shares of Semrush (NASDAQ:SEMR) to a strong-buy rating in a research report sent to investors on Tuesday,Zacks.com reports.

Several other equities research analysts have also recently weighed in on SEMR. Morgan Stanley upgraded shares of Semrush from an “equal weight” rating to an “overweight” rating and boosted their price target for the stock from $17.00 to $20.00 in a research report on Monday. KeyCorp upped 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, October 2nd. Northland Securities initiated coverage on shares of Semrush in a report on Tuesday. They issued an “outperform” rating and a $18.00 price target for the company. JPMorgan Chase & Co. upped their price objective on Semrush from $16.00 to $17.00 and gave the company an “overweight” rating in a research report on Wednesday, October 2nd. Finally, The Goldman Sachs Group lifted their target price on Semrush from $14.00 to $16.00 and gave the stock a “neutral” rating in a report on Monday, October 7th. Two equities research analysts have rated the stock with a hold rating, six have assigned a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $17.13.

Semrush Price Performance

NASDAQ:SEMR opened at $13.32 on Tuesday. The company has a market cap of $1.95 billion, a price-to-earnings ratio of 166.52 and a beta of 1.62. Semrush has a 1 year low of $9.64 and a 1 year high of $16.42. The stock’s 50 day simple moving average is $13.13 and its two-hundred day simple moving average is $13.57.

Insider Transactions at Semrush

In other Semrush news, CMO Andrew Warden sold 8,462 shares of the company’s stock in a transaction dated Tuesday, January 7th. The shares were sold at an average price of $11.71, for a total value of $99,090.02. Following the transaction, the chief marketing officer now directly owns 276,656 shares in the company, valued at $3,239,641.76. This represents a 2.97 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CFO Brian Mulroy sold 3,015 shares of the business’s stock in a transaction that occurred on Monday, January 13th. The shares were sold at an average price of $12.40, for a total value of $37,386.00. Following the completion of the sale, the chief financial officer now owns 430,196 shares of the company’s stock, valued at $5,334,430.40. The trade was a 0.70 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders have sold 263,711 shares of company stock worth $3,332,605. 57.83% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Semrush

A number of hedge funds and other institutional investors have recently made changes to their positions in the company. JPMorgan Chase & Co. raised its holdings in shares of Semrush by 0.8% in the third quarter. JPMorgan Chase & Co. now owns 386,991 shares of the company’s stock valued at $6,080,000 after acquiring an additional 3,244 shares in the last quarter. The Manufacturers Life Insurance Company raised its holdings in shares of Semrush by 28.4% in the 2nd quarter. The Manufacturers Life Insurance Company now owns 16,777 shares of the company’s stock valued at $225,000 after purchasing an additional 3,706 shares in the last quarter. Point72 Asset Management L.P. purchased a new stake in shares of Semrush in the 2nd quarter worth approximately $123,000. DRW Securities LLC purchased a new stake in shares of Semrush in the 3rd quarter worth approximately $157,000. Finally, Virtu Financial LLC bought a new position in shares of Semrush during the third quarter valued at approximately $158,000. Institutional investors 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.