Semrush (NASDAQ:SEMR) Given "Buy" Rating at Needham & Company LLC

Semrush (NASDAQ:SEMR - Get Free Report)'s stock had its "buy" rating reaffirmed by analysts at Needham & Company LLC in a research note issued on Wednesday,Benzinga reports. They presently have a $18.00 price target on the stock. Needham & Company LLC's target price would indicate a potential upside of 21.95% from the company's previous close.

Several other equities analysts have also recently issued reports on SEMR. Morgan Stanley upgraded shares of Semrush from an "equal weight" rating to an "overweight" rating and upped their price target for the company from $17.00 to $20.00 in a research report on Monday. JPMorgan Chase & Co. lifted their price target on Semrush from $16.00 to $17.00 and gave the company an "overweight" rating in a research report on Wednesday, October 2nd. Northland Securities initiated coverage on Semrush in a research report on Tuesday. They issued an "outperform" rating and a $18.00 price objective on the stock. KeyCorp upped their target price on Semrush from $19.00 to $21.00 and gave the stock an "overweight" rating in a research note on Wednesday, October 2nd. Finally, The Goldman Sachs Group raised their target price on shares of Semrush from $14.00 to $16.00 and gave the company a "neutral" rating in a research note on Monday, October 7th. Two investment analysts have rated the stock with a hold rating, six have assigned a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and a consensus price target of $17.13.

Semrush Price Performance

SEMR traded up $1.43 during trading on Wednesday, hitting $14.76. The stock had a trading volume of 951,259 shares, compared to its average volume of 627,262. The firm has a market cap of $2.17 billion, a price-to-earnings ratio of 184.52 and a beta of 1.62. Semrush has a one year low of $9.64 and a one year high of $16.42. The company has a 50 day moving average price of $13.13 and a 200-day moving average price of $13.57.

Insider Buying and Selling at Semrush

In other news, CEO Oleg Shchegolev sold 6,859 shares of the stock in a transaction on Tuesday, January 7th. The stock was sold at an average price of $11.71, for a total transaction of $80,318.89. Following the sale, the chief executive officer now directly owns 7,301,214 shares of the company's stock, valued at approximately $85,497,215.94. This represents a 0.09 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Director Dmitry Melnikov sold 42,226 shares of the company's stock in a transaction dated Friday, December 13th. The shares were sold at an average price of $13.50, for a total value of $570,051.00. Following the completion of the sale, the director now owns 9,099,091 shares in the company, valued at $122,837,728.50. This trade represents a 0.46 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 263,711 shares of company stock valued at $3,332,605 in the last three months. 57.83% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Semrush

Institutional investors and hedge funds have recently made changes to their positions in the stock. JPMorgan Chase & Co. raised its holdings in Semrush by 0.8% during the third quarter. JPMorgan Chase & Co. now owns 386,991 shares of the company's stock worth $6,080,000 after buying an additional 3,244 shares during the last quarter. The Manufacturers Life Insurance Company raised its holdings in shares of Semrush by 28.4% in the 2nd quarter. The Manufacturers Life Insurance Company now owns 16,777 shares of the company's stock worth $225,000 after acquiring an additional 3,706 shares during the last quarter. Point72 Asset Management L.P. bought a new position in Semrush in the 2nd quarter valued at about $123,000. DRW Securities LLC bought a new stake in Semrush during the 3rd quarter worth approximately $157,000. Finally, Virtu Financial LLC purchased a new position in shares of Semrush during the third quarter valued at approximately $158,000. 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.