Semrush’s (SEMR) Buy Rating Reiterated at Needham & Company LLC

Needham & Company LLC reaffirmed their buy rating on shares of Semrush (NASDAQ:SEMR) in a research report report published on Wednesday, Benzinga reports. They currently have a $18.00 price objective on the stock.

Separately, KeyCorp increased their price target on shares of Semrush from $19.00 to $21.00 and gave the stock an overweight rating in a research report on Wednesday. Three investment analysts have rated the stock with a hold rating and four have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has a consensus rating of Moderate Buy and an average target price of $15.00.

Semrush Price Performance

NASDAQ SEMR opened at $14.43 on Wednesday. The stock has a market capitalization of $2.10 billion, a price-to-earnings ratio of 160.33 and a beta of 1.58. Semrush has a 1-year low of $7.36 and a 1-year high of $16.42. The business’s fifty day moving average price is $14.04 and its 200-day moving average price is $13.83.

Semrush (NASDAQ:SEMR) last announced 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). Semrush had a return on equity of 6.61% and a net margin of 4.39%. The firm had revenue of $90.95 million during the quarter, compared to analysts’ expectations of $89.70 million. Equities research analysts anticipate that Semrush will post 0.08 EPS for the current year.

Insiders Place Their Bets

In other Semrush news, Director Mark Vranesh sold 7,500 shares of the company’s stock in a transaction that occurred on Tuesday, October 1st. The shares were sold at an average price of $15.51, for a total value of $116,325.00. Following the completion of the transaction, the director now directly owns 113,731 shares in the company, valued at $1,763,967.81. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. In other news, Director Mark Vranesh sold 7,500 shares of the business’s stock in a transaction dated Tuesday, October 1st. The stock was sold at an average price of $15.51, for a total value of $116,325.00. Following the transaction, the director now directly owns 113,731 shares in the company, valued at $1,763,967.81. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Dmitry Melnikov sold 64,140 shares of the stock in a transaction dated Wednesday, September 18th. The stock was sold at an average price of $14.59, for a total value of $935,802.60. Following the sale, the director now owns 9,227,898 shares of the company’s stock, valued at $134,635,031.82. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 151,191 shares of company stock worth $2,132,420. Company insiders own 57.83% of the company’s stock.

Hedge Funds Weigh In On Semrush

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