JPMorgan Chase & Co. Raises Semrush (NASDAQ:SEMR) Price Target to $17.00

Semrush (NASDAQ:SEMR) had its price objective boosted by research analysts at JPMorgan Chase & Co. from $16.00 to $17.00 in a report released on Wednesday, Benzinga reports. The firm currently has an “overweight” rating on the stock. JPMorgan Chase & Co.‘s price objective would indicate a potential upside of 20.82% from the company’s current price.

SEMR has been the topic of several other research reports. KeyCorp boosted their price target on Semrush from $19.00 to $21.00 and gave the stock an “overweight” rating in a research note on Wednesday. Needham & Company LLC reaffirmed a “buy” rating and set a $18.00 target price on shares of Semrush in a research note on Wednesday. Three analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $15.00.

Semrush Price Performance

Shares of SEMR traded down $1.17 during mid-day trading on Wednesday, reaching $14.07. The company’s stock had a trading volume of 242,811 shares, compared to its average volume of 523,524. The stock has a market cap of $2.04 billion, a PE ratio of 156.33 and a beta of 1.58. Semrush has a 12-month low of $7.36 and a 12-month high of $16.42. The company’s 50 day moving average is $14.04 and its 200 day moving average is $13.82.

Semrush (NASDAQ:SEMR) last issued its earnings results on Monday, August 5th. The company reported $0.01 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.03 by ($0.02). The company had revenue of $90.95 million during the quarter, compared to analysts’ expectations of $89.70 million. Semrush had a net margin of 4.39% and a return on equity of 6.61%. As a group, sell-side analysts anticipate that Semrush will post 0.08 EPS for the current fiscal year.

Insider Buying and Selling

In related news, CMO Andrew Warden sold 4,154 shares of the firm’s stock in a transaction dated Friday, July 5th. The stock was sold at an average price of $13.69, for a total value of $56,868.26. Following the sale, the chief marketing officer now directly owns 261,317 shares of the company’s stock, valued at $3,577,429.73. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. In other Semrush news, Director Dmitry Melnikov sold 1,896 shares of the business’s stock in a transaction dated Friday, July 5th. The shares were sold at an average price of $13.63, for a total value of $25,842.48. Following the transaction, the director now directly owns 2,982,291 shares in the company, valued at $40,648,626.33. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, CMO Andrew Warden sold 4,154 shares of the business’s stock in a transaction that occurred on Friday, July 5th. The shares were sold at an average price of $13.69, for a total transaction of $56,868.26. Following the completion of the sale, the chief marketing officer now directly owns 261,317 shares in the company, valued at approximately $3,577,429.73. The disclosure for this sale can be found here. In the last 90 days, insiders sold 167,689 shares of company stock valued at $2,343,097. Company insiders own 57.83% of the company’s stock.

Institutional Trading of Semrush

Several institutional investors and hedge funds have recently bought and sold shares of SEMR. Cat Rock Capital Management LP boosted its position in Semrush by 4.4% during the 4th quarter. Cat Rock Capital Management LP now owns 8,596,358 shares of the company’s stock valued at $117,426,000 after buying an additional 358,386 shares during the period. G2 Investment Partners Management LLC purchased a new stake in shares of Semrush during the 4th quarter valued at about $10,597,000. Dimensional Fund Advisors LP boosted its stake in shares of Semrush by 69.5% in the 2nd quarter. Dimensional Fund Advisors LP now owns 532,702 shares of the company’s stock worth $7,132,000 after buying an additional 218,488 shares during the last quarter. Federated Hermes Inc. boosted its stake in shares of Semrush by 385.0% during the 2nd quarter. Federated Hermes Inc. now owns 297,311 shares of the company’s stock worth $3,981,000 after acquiring an additional 236,010 shares during the last quarter. Finally, Millennium Management LLC grew its stake in shares of Semrush by 126.5% during the 2nd quarter. Millennium Management LLC now owns 294,374 shares of the company’s stock valued at $3,942,000 after acquiring an additional 164,395 shares during the period. 32.86% of the stock is currently owned by hedge funds and other 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.