Semrush (NASDAQ:SEMR) Price Target Raised to $17.00

Semrush (NASDAQ:SEMR) had its price objective increased by JPMorgan Chase & Co. from $16.00 to $17.00 in a report issued on Wednesday, Benzinga reports. The firm currently has an overweight rating on the stock.

Several other brokerages have also recently commented on SEMR. KeyCorp lifted their price objective on shares of Semrush from $19.00 to $21.00 and gave the company an overweight rating in a research note on Wednesday. Needham & Company LLC restated a buy rating and set a $18.00 target price on shares of Semrush in a research report on Wednesday. Three research analysts have rated the stock with a hold rating and four have issued a buy rating to the company’s stock. According to MarketBeat.com, the stock currently has a consensus rating of Moderate Buy and a consensus price target of $15.00.

Semrush Price Performance

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

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

Insider Activity

In related news, Director Mark Vranesh sold 7,500 shares of the company’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 completion of the transaction, the director now owns 113,731 shares of the company’s stock, valued at approximately $1,763,967.81. This represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. In other news, Director Dmitry Melnikov sold 64,140 shares of the business’s stock in a transaction dated Wednesday, September 18th. The shares were 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 trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Director Mark Vranesh sold 7,500 shares of the firm’s stock in a transaction dated Tuesday, October 1st. The shares were sold at an average price of $15.51, for a total transaction 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 disclosure for this sale can be found here. Insiders have sold 151,191 shares of company stock worth $2,132,420 in the last ninety days. Company insiders own 57.83% of the company’s stock.

Institutional Investors Weigh In On Semrush

Large investors have recently bought and sold shares of the company. Cat Rock Capital Management LP raised its stake in Semrush by 4.4% in 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 purchasing an additional 358,386 shares during the last quarter. G2 Investment Partners Management LLC acquired a new position in Semrush during the fourth quarter worth about $10,597,000. Dimensional Fund Advisors LP grew its stake in Semrush by 69.5% during the 2nd quarter. Dimensional Fund Advisors LP now owns 532,702 shares of the company’s stock valued at $7,132,000 after acquiring an additional 218,488 shares in the last quarter. Federated Hermes Inc. raised its holdings in Semrush by 385.0% in the 2nd quarter. Federated Hermes Inc. now owns 297,311 shares of the company’s stock valued at $3,981,000 after acquiring an additional 236,010 shares during the last quarter. Finally, Millennium Management LLC lifted its stake in Semrush by 126.5% in the 2nd quarter. Millennium Management LLC now owns 294,374 shares of the company’s stock worth $3,942,000 after purchasing an additional 164,395 shares in the last quarter. 32.86% of the stock is currently 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.