Morgan Stanley Has Lowered Expectations for Semrush (NASDAQ:SEMR) Stock Price

Semrush (NASDAQ:SEMR - Get Free Report) had its target price lowered by equities research analysts at Morgan Stanley from $19.00 to $13.00 in a research report issued to clients and investors on Wednesday,Benzinga reports. The brokerage currently has an "overweight" rating on the stock. Morgan Stanley's target price suggests a potential upside of 45.74% from the stock's previous close.

Other analysts have also recently issued research reports about the stock. Northland Securities assumed coverage on shares of Semrush in a research report on Tuesday, January 14th. They set an "outperform" rating and a $18.00 price target on the stock. Northland Capmk upgraded Semrush to a "strong-buy" rating in a report on Tuesday, January 14th. The Goldman Sachs Group decreased their price objective on Semrush from $14.00 to $12.00 and set a "neutral" rating for the company in a research note on Friday, March 28th. Jefferies Financial Group boosted their price target on shares of Semrush from $17.00 to $21.00 and gave the stock a "buy" rating in a report on Monday, February 3rd. Finally, Needham & Company LLC reaffirmed a "buy" rating and issued a $18.00 price target on shares of Semrush in a report on Wednesday, January 15th. One investment analyst has rated the stock with a hold rating, six have given a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, Semrush has an average rating of "Buy" and a consensus target price of $17.14.

Semrush Stock Performance

Shares of NASDAQ SEMR traded down $0.05 during trading on Wednesday, reaching $8.92. The stock had a trading volume of 435,634 shares, compared to its average volume of 544,653. The business's 50-day moving average price is $11.21 and its 200-day moving average price is $13.00. Semrush has a fifty-two week low of $7.90 and a fifty-two week high of $18.74. The company has a market cap of $1.31 billion, a P/E ratio of 111.51 and a beta of 1.80.

Insider Buying and Selling

In related news, President Eugenie Levin sold 15,093 shares of the firm's stock in a transaction that occurred on Monday, February 3rd. The stock was sold at an average price of $17.11, for a total value of $258,241.23. Following the completion of the transaction, the president now directly owns 493,456 shares of the company's stock, valued at $8,443,032.16. This trade represents a 2.97 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CEO Oleg Shchegolev sold 32,932 shares of the company's stock in a transaction on Monday, March 3rd. The shares were sold at an average price of $11.19, for a total value of $368,509.08. Following the completion of the sale, the chief executive officer now directly owns 7,268,282 shares in the company, valued at $81,332,075.58. This trade represents a 0.45 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 199,174 shares of company stock valued at $2,431,563 over the last quarter. Company insiders own 57.83% of the company's stock.

Institutional Investors Weigh In On Semrush

Large investors have recently added to or reduced their stakes in the business. Topline Capital Management LLC acquired a new stake in shares of Semrush in the fourth quarter valued at approximately $9,267,000. Millennium Management LLC increased its position in Semrush by 153.8% during the fourth quarter. Millennium Management LLC now owns 1,246,109 shares of the company's stock worth $14,804,000 after buying an additional 755,220 shares in the last quarter. Allspring Global Investments Holdings LLC purchased a new stake in shares of Semrush in the fourth quarter valued at $6,869,000. Arrowstreet Capital Limited Partnership increased its position in Semrush by 122.4% during the 4th quarter. Arrowstreet Capital Limited Partnership now owns 984,544 shares of the company's stock worth $11,696,000 after purchasing an additional 541,899 shares in the last quarter. Finally, First Trust Advisors LP acquired a new position in Semrush in the 4th quarter valued at about $3,715,000. 32.86% of the stock is owned by institutional investors and hedge funds.

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.