Semrush (NASDAQ:SEMR) Rating Increased to Strong-Buy at Northland Capmk

Semrush (NASDAQ:SEMR) was upgraded by equities researchers at Northland Capmk to a “strong-buy” rating in a research note issued to investors on Tuesday,Zacks.com reports.

Several other research firms have also weighed in on SEMR. KeyCorp boosted their target price on shares of Semrush from $19.00 to $21.00 and gave the company an “overweight” rating in a report on Wednesday, October 2nd. Northland Securities began coverage on Semrush in a research report on Tuesday. They issued an “outperform” rating and a $18.00 price objective for the company. JPMorgan Chase & Co. lifted their target price on Semrush from $16.00 to $17.00 and gave the company an “overweight” rating in a research report on Wednesday, October 2nd. Needham & Company LLC reiterated a “buy” rating and set a $18.00 price target on shares of Semrush in a report on Monday, November 11th. Finally, The Goldman Sachs Group boosted their price objective on shares of Semrush from $14.00 to $16.00 and gave the company a “neutral” rating in a report on Monday, October 7th. Two research analysts have rated the stock with a hold rating, six have given a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, Semrush has an average rating of “Moderate Buy” and an average target price of $17.13.

Semrush Stock Up 5.2 %

NASDAQ SEMR opened at $13.32 on Tuesday. Semrush has a 52 week low of $9.64 and a 52 week high of $16.42. The business’s fifty day simple moving average is $13.13 and its 200-day simple moving average is $13.57. The firm has a market cap of $1.95 billion, a PE ratio of 166.52 and a beta of 1.62.

Insider Activity at Semrush

In related news, Director Dmitry Melnikov sold 42,226 shares of the company’s stock in a transaction that occurred on Friday, December 13th. The shares were sold at an average price of $13.50, for a total transaction of $570,051.00. Following the sale, the director now directly owns 9,099,091 shares of the company’s stock, valued at $122,837,728.50. This represents a 0.46 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CMO Andrew Warden sold 8,462 shares of the firm’s stock in a transaction that occurred on Tuesday, January 7th. The shares were sold at an average price of $11.71, for a total transaction of $99,090.02. Following the completion of the transaction, the chief marketing officer now directly owns 276,656 shares of the company’s stock, valued at $3,239,641.76. This represents a 2.97 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 263,711 shares of company stock worth $3,332,605 in the last three months. 57.83% of the stock is owned by company insiders.

Institutional Trading of Semrush

A number of large investors have recently modified their holdings of SEMR. Bank of New York Mellon Corp grew its stake in Semrush by 28.6% during the 2nd quarter. Bank of New York Mellon Corp now owns 104,761 shares of the company’s stock worth $1,403,000 after purchasing an additional 23,313 shares in the last quarter. Rhumbline Advisers boosted its stake in shares of Semrush by 29.7% in the 2nd quarter. Rhumbline Advisers now owns 48,912 shares of the company’s stock valued at $655,000 after buying an additional 11,202 shares during the period. Acadian Asset Management LLC grew its position in shares of Semrush by 330.9% during the second quarter. Acadian Asset Management LLC now owns 37,461 shares of the company’s stock worth $499,000 after buying an additional 28,768 shares in the last quarter. Federated Hermes Inc. increased its stake in shares of Semrush by 385.0% during the second quarter. Federated Hermes Inc. now owns 297,311 shares of the company’s stock worth $3,981,000 after buying an additional 236,010 shares during the period. Finally, Dimensional Fund Advisors LP raised its holdings in Semrush by 69.5% in the second 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. Hedge funds and other institutional investors own 32.86% of the company’s stock.

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.