Needham & Company LLC Reiterates “Buy” Rating for Semrush (NASDAQ:SEMR)

Needham & Company LLC restated their buy rating on shares of Semrush (NASDAQ:SEMR) in a research note released on Tuesday morning, Benzinga reports. They currently have a $18.00 price objective on the stock.

A number of other research firms have also recently issued reports on SEMR. JPMorgan Chase & Co. boosted their price objective on Semrush from $16.00 to $17.00 and gave the company an “overweight” rating in a research report on Wednesday, October 2nd. The Goldman Sachs Group increased their price objective on Semrush from $14.00 to $16.00 and gave the company a “neutral” rating in a research report on Monday, October 7th. Finally, KeyCorp lifted their price objective on Semrush from $19.00 to $21.00 and gave the stock an “overweight” rating in a research report on Wednesday, October 2nd. Three investment analysts have rated the stock with a hold rating and four have given a buy rating to the company. Based on data from MarketBeat.com, Semrush currently has an average rating of “Moderate Buy” and a consensus price target of $15.57.

Semrush Stock Performance

Shares of NASDAQ SEMR opened at $13.14 on Tuesday. The firm has a market cap of $1.92 billion, a P/E ratio of 131.40 and a beta of 1.58. Semrush has a 1 year low of $7.38 and a 1 year high of $16.42. The firm’s 50 day moving average price is $13.81 and its 200 day moving average price is $13.91.

Semrush (NASDAQ:SEMR) last posted its quarterly 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). 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, equities analysts predict that Semrush will post 0.08 EPS for the current year.

Insider Activity at Semrush

In other news, COO Vitalii Obishchenko sold 55,000 shares of the stock in a transaction that occurred on Wednesday, September 11th. The stock was sold at an average price of $13.43, for a total transaction of $738,650.00. Following the transaction, the chief operating officer now owns 848,923 shares in the company, valued at approximately $11,401,035.89. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. In other Semrush news, COO Vitalii Obishchenko sold 55,000 shares of the firm’s stock in a transaction on Wednesday, September 11th. The stock was sold at an average price of $13.43, for a total value of $738,650.00. Following the sale, the chief operating officer now owns 848,923 shares of the company’s stock, valued at approximately $11,401,035.89. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, President Eugenie Levin sold 3,788 shares of the stock in a transaction that occurred on Wednesday, October 2nd. The stock was sold at an average price of $14.12, for a total value of $53,486.56. Following the transaction, the president now owns 601,892 shares in the company, valued at $8,498,715.04. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders have sold 171,200 shares of company stock worth $2,420,533. 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 SEMR. Silvercrest Asset Management Group LLC bought a new stake in Semrush during the 1st quarter valued at $2,705,000. Jacobs Levy Equity Management Inc. purchased a new stake in shares of Semrush in the first quarter worth $543,000. SkyView Investment Advisors LLC grew its holdings in shares of Semrush by 8.9% during the first quarter. SkyView Investment Advisors LLC now owns 205,827 shares of the company’s stock valued at $2,729,000 after buying an additional 16,738 shares during the last quarter. SG Americas Securities LLC purchased a new position in shares of Semrush in the second quarter worth $654,000. Finally, Summit Global Investments purchased a new stake in shares of Semrush during the 2nd quarter valued at about $156,000. 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.