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

Needham & Company LLC reaffirmed their buy rating on shares of Semrush (NASDAQ:SEMR - Free Report) in a research note released on Tuesday, Benzinga reports. Needham & Company LLC currently has a $18.00 price objective on the stock.

A number of other brokerages have also weighed in on SEMR. 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. JPMorgan Chase & Co. lifted their price objective on Semrush from $16.00 to $17.00 and gave the stock an "overweight" rating in a research report on Wednesday, October 2nd. Finally, The Goldman Sachs Group lifted their price objective on Semrush from $14.00 to $16.00 and gave the stock a "neutral" rating in a research report on Monday, October 7th. Three research analysts have rated the stock with a hold rating and four have assigned a buy rating to the company's stock. According to data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and an average price target of $15.57.

Semrush Stock Performance

SEMR traded up $0.22 on Tuesday, hitting $13.15. 259,569 shares of the company were exchanged, compared to its average volume of 506,127. The firm has a fifty day simple moving average of $13.84 and a two-hundred day simple moving average of $13.90. Semrush has a 12 month low of $7.36 and a 12 month high of $16.42. The stock has a market capitalization of $1.93 billion, a PE ratio of 131.10 and a beta of 1.58.

Semrush (NASDAQ:SEMR - Get Free Report) last posted its quarterly 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 company had revenue of $90.95 million for the quarter, compared to the consensus estimate of $89.70 million. On average, equities analysts expect that Semrush will post 0.08 earnings per share for the current year.

Insider Activity

In other news, Director Mark Vranesh sold 7,500 shares of the firm's stock in a transaction that occurred on 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 in the company, valued at $1,763,967.81. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. In other Semrush news, Director Mark Vranesh sold 7,500 shares of Semrush stock in a transaction on Tuesday, October 1st. The stock was 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 owns 113,731 shares in the company, valued at approximately $1,763,967.81. 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, CFO Brian Mulroy sold 4,207 shares of Semrush stock in a transaction on Friday, October 11th. The shares were sold at an average price of $13.12, for a total value of $55,195.84. Following the transaction, the chief financial officer now owns 433,211 shares of the company's stock, valued at $5,683,728.32. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 172,867 shares of company stock worth $2,442,987 in the last quarter. 57.83% of the stock is owned by company insiders.

Institutional Inflows and Outflows

A number of large investors have recently added to or reduced their stakes in the stock. The Manufacturers Life Insurance Company raised its stake in 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 buying an additional 3,706 shares during the last quarter. Point72 Asset Management L.P. bought a new stake in shares of Semrush in the 2nd quarter worth $123,000. Algert Global LLC increased its holdings in shares of Semrush by 13.8% in the 2nd quarter. Algert Global LLC now owns 84,931 shares of the company's stock worth $1,137,000 after purchasing an additional 10,282 shares in the last quarter. SkyView Investment Advisors LLC increased its holdings in shares of Semrush by 5.1% in the 2nd quarter. SkyView Investment Advisors LLC now owns 216,282 shares of the company's stock worth $2,896,000 after purchasing an additional 10,455 shares in the last quarter. Finally, Rhumbline Advisers increased its holdings in shares of Semrush by 29.7% in the 2nd quarter. Rhumbline Advisers now owns 48,912 shares of the company's stock worth $655,000 after purchasing an additional 11,202 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.