Semrush (NASDAQ:SEMR) Earns Buy Rating from Needham & Company LLC

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

Separately, KeyCorp increased their target price on Semrush from $19.00 to $21.00 and gave the stock an overweight rating in a research report on Wednesday. Three equities research analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. According to MarketBeat, Semrush presently has an average rating of Moderate Buy and an average price target of $15.00.

Semrush Stock Up 1.6 %

Shares of Semrush stock opened at $14.43 on Wednesday. The company has a market cap of $2.10 billion, a PE ratio of 160.33 and a beta of 1.58. The business has a 50 day moving average of $14.04 and a 200 day moving average of $13.83. Semrush has a 52 week low of $7.36 and a 52 week high of $16.42.

Semrush (NASDAQ:SEMR) last announced its earnings results on Monday, August 5th. The company reported $0.01 earnings per share for the quarter, missing analysts’ consensus estimates of $0.03 by ($0.02). Semrush had a net margin of 4.39% and a return on equity of 6.61%. The company had revenue of $90.95 million for the quarter, compared to the consensus estimate of $89.70 million. On average, research analysts anticipate that Semrush will post 0.08 earnings per share for the current year.

Insiders Place Their Bets

In other news, CFO Brian Mulroy sold 4,207 shares of the business’s stock in a transaction that occurred on Thursday, July 11th. The stock was sold at an average price of $13.67, for a total value of $57,509.69. Following the sale, the chief financial officer now directly owns 437,418 shares of the company’s stock, valued at $5,979,504.06. The trade was a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. In other Semrush news, CFO Brian Mulroy sold 4,207 shares of Semrush stock in a transaction on Thursday, July 11th. The stock was sold at an average price of $13.67, for a total transaction of $57,509.69. Following the completion of the transaction, the chief financial officer now owns 437,418 shares in the company, valued at approximately $5,979,504.06. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Dmitry Melnikov sold 10,011 shares of the business’s stock in a transaction on Thursday, August 29th. The stock was sold at an average price of $14.02, for a total value of $140,354.22. Following the completion of the sale, the director now directly owns 9,362,419 shares in the company, valued at $131,261,114.38. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 151,191 shares of company stock worth $2,132,420. 57.83% of the stock is currently owned by company insiders.

Institutional Trading of Semrush

Institutional investors and hedge funds have recently bought and sold shares of the company. Point72 Asset Management L.P. purchased a new stake in shares of Semrush during the second quarter valued at approximately $123,000. Summit Global Investments bought a new stake in shares of Semrush in the 2nd quarter worth $156,000. Versor Investments LP purchased a new position in shares of Semrush in the second quarter worth $174,000. The Manufacturers Life Insurance Company lifted its holdings in shares of Semrush by 28.4% during the second 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. Finally, Los Angeles Capital Management LLC purchased a new stake in shares of Semrush during the second quarter valued at $258,000. 32.86% of the stock is currently owned by 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.