Semrush (NASDAQ:SEMR) Stock Rating Reaffirmed by Needham & Company LLC

Semrush (NASDAQ:SEMR)‘s stock had its “buy” rating restated by investment analysts at Needham & Company LLC in a report issued on Wednesday, Benzinga reports. They currently have a $18.00 price target on the stock. Needham & Company LLC’s price objective would indicate a potential upside of 18.11% from the stock’s current price.

Separately, KeyCorp increased 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. Three equities research analysts have rated the stock with a hold rating and three have given a buy rating to the company. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $14.67.

Semrush Stock Performance

SEMR stock opened at $15.24 on Wednesday. The company has a market capitalization of $2.23 billion, a P/E ratio of 169.33 and a beta of 1.57. Semrush has a 52-week low of $7.36 and a 52-week high of $16.42. The business has a 50-day simple moving average of $14.04 and a two-hundred day simple moving average of $13.82.

Semrush (NASDAQ:SEMR) last released its earnings results on Monday, August 5th. The company reported $0.01 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.03 by ($0.02). The business had revenue of $90.95 million during the quarter, compared to the consensus estimate 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 forecast that Semrush will post 0.08 earnings per share for the current fiscal year.

Insider Activity at Semrush

In other news, Director Dmitry Melnikov sold 64,140 shares of the stock in a transaction dated Wednesday, September 18th. The shares were sold at an average price of $14.59, for a total value of $935,802.60. Following the sale, the director now directly owns 9,227,898 shares of the company’s stock, valued at $134,635,031.82. The sale was disclosed in a legal filing with the SEC, which is available at this link. In other Semrush news, Director Dmitry Melnikov sold 64,140 shares of Semrush stock in a transaction dated Wednesday, September 18th. The stock was sold at an average price of $14.59, for a total transaction of $935,802.60. Following the completion of the sale, the director now owns 9,227,898 shares of the company’s stock, valued at $134,635,031.82. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, COO Vitalii Obishchenko sold 4,740 shares of the stock in a transaction that occurred on Friday, July 5th. The shares were sold at an average price of $13.63, for a total transaction of $64,606.20. Following the transaction, the chief operating officer now owns 903,923 shares in the company, valued at $12,320,470.49. The disclosure for this sale can be found here. In the last three months, insiders have sold 167,689 shares of company stock worth $2,343,097. 57.83% of the stock is owned by company insiders.

Hedge Funds Weigh In On Semrush

Several hedge funds have recently made changes to their positions in SEMR. Point72 Asset Management L.P. purchased a new position in shares of Semrush in the 2nd quarter valued at approximately $123,000. Summit Global Investments bought a new position in shares of Semrush in the second quarter worth approximately $156,000. Versor Investments LP bought a new position in shares of Semrush during the second quarter valued at $174,000. The Manufacturers Life Insurance Company boosted its holdings in shares of Semrush by 28.4% during the 2nd quarter. The Manufacturers Life Insurance Company now owns 16,777 shares of the company’s stock valued at $225,000 after acquiring an additional 3,706 shares during the last quarter. Finally, Los Angeles Capital Management LLC bought a new position in shares of Semrush during the 2nd quarter valued at $258,000. 32.86% of the stock is owned by hedge funds and other institutional investors.

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.