Semrush (NASDAQ:SEMR) Shares Gap Up - Should You Buy?

Semrush Holdings, Inc. (NASDAQ:SEMR - Get Free Report)'s stock price gapped up before the market opened on Monday . The stock had previously closed at $11.50, but opened at $11.88. Semrush shares last traded at $12.55, with a volume of 103,014 shares.

Analysts Set New Price Targets

Several equities analysts have recently weighed in on SEMR shares. Morgan Stanley raised shares of Semrush from an "equal weight" rating to an "overweight" rating and raised their price target for the stock from $17.00 to $20.00 in a research note on Monday. JPMorgan Chase & Co. boosted their price target on shares of Semrush from $16.00 to $17.00 and gave the stock an "overweight" rating in a research report on Wednesday, October 2nd. Needham & Company LLC restated a "buy" rating and set a $18.00 price objective on shares of Semrush in a research note on Monday, November 11th. The Goldman Sachs Group lifted their target price 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 raised their price target on Semrush from $19.00 to $21.00 and gave the company an "overweight" rating in a research note on Wednesday, October 2nd. Two equities research analysts have rated the stock with a hold rating and five have given a buy rating to the company. According to data from MarketBeat.com, Semrush has a consensus rating of "Moderate Buy" and a consensus target price of $17.00.

Semrush Stock Performance

The business has a fifty day moving average of $13.14 and a two-hundred day moving average of $13.57. The firm has a market capitalization of $1.85 billion, a price-to-earnings ratio of 157.27 and a beta of 1.62.

Insider Buying and Selling at Semrush

In other news, Director Dmitry Melnikov sold 42,226 shares of the company's stock in a transaction that occurred on Friday, December 13th. The stock was sold at an average price of $13.50, for a total value of $570,051.00. Following the transaction, the director now owns 9,099,091 shares of the company's stock, valued at approximately $122,837,728.50. This represents a 0.46 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, President Eugenie Levin sold 6,943 shares of Semrush stock in a transaction that occurred on Tuesday, January 7th. The stock was sold at an average price of $11.74, for a total value of $81,510.82. Following the sale, the president now directly owns 580,549 shares of the company's stock, valued at approximately $6,815,645.26. The trade was a 1.18 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 260,696 shares of company stock worth $3,295,219 over the last ninety days. Insiders own 57.83% of the company's stock.

Institutional Inflows and Outflows

Large investors have recently added to or reduced their stakes in the company. JPMorgan Chase & Co. grew its stake in shares of Semrush by 0.8% in the third quarter. JPMorgan Chase & Co. now owns 386,991 shares of the company's stock valued at $6,080,000 after acquiring an additional 3,244 shares in the last quarter. The Manufacturers Life Insurance Company grew its position in shares of Semrush by 28.4% during the 2nd quarter. The Manufacturers Life Insurance Company now owns 16,777 shares of the company's stock worth $225,000 after purchasing an additional 3,706 shares in the last quarter. Point72 Asset Management L.P. bought a new position in shares of Semrush during the second quarter worth approximately $123,000. DRW Securities LLC acquired a new stake in shares of Semrush in the third quarter valued at approximately $157,000. Finally, Virtu Financial LLC bought a new stake in shares of Semrush in 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.