Semrush (NASDAQ:SEMR) Stock Rating Upgraded by Morgan Stanley

Morgan Stanley upgraded shares of Semrush (NASDAQ:SEMR - Free Report) from an equal weight rating to an overweight rating in a report released on Monday morning, Marketbeat Ratings reports. They currently have $20.00 target price on the stock, up from their prior target price of $17.00.

A number of other analysts have also recently weighed in on the stock. Needham & Company LLC reaffirmed a "buy" rating and set a $18.00 target price on shares of Semrush in a research note on Monday, November 11th. JPMorgan Chase & Co. upped 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. KeyCorp lifted their price objective 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 price target on shares of Semrush from $14.00 to $16.00 and gave the stock a "neutral" rating in a report on Monday, October 7th. Two analysts have rated the stock with a hold rating and five have given a buy rating to the company's stock. According to data from MarketBeat, the company presently has an average rating of "Moderate Buy" and an average target price of $17.00.

Semrush Price Performance

SEMR stock traded up $1.08 during midday trading on Monday, reaching $12.58. The company had a trading volume of 674,202 shares, compared to its average volume of 563,743. The company has a market capitalization of $1.85 billion, a price-to-earnings ratio of 157.27 and a beta of 1.62. Semrush has a 1-year low of $9.64 and a 1-year high of $16.42. The stock has a 50 day moving average price of $13.13 and a 200-day moving average price of $13.57.

Insider Activity

In other news, Director Dmitry Melnikov sold 44,592 shares of the company's stock in a transaction on Wednesday, December 18th. The shares were sold at an average price of $12.76, for a total value of $568,993.92. Following the completion of the sale, the director now owns 8,978,501 shares in the company, valued at $114,565,672.76. This represents a 0.49 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, CMO Andrew Warden sold 8,462 shares of the business's stock in a transaction on Tuesday, January 7th. The stock was sold at an average price of $11.71, for a total value of $99,090.02. Following the completion of the transaction, the chief marketing officer now directly owns 276,656 shares in the company, valued at approximately $3,239,641.76. This represents a 2.97 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 263,711 shares of company stock worth $3,332,605 over the last quarter. 57.83% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

A number of institutional investors have recently made changes to their positions in SEMR. JPMorgan Chase & Co. raised its stake in Semrush by 0.8% in the 3rd 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 during the period. Principal Financial Group Inc. purchased a new stake in shares of Semrush during the 3rd quarter valued at approximately $454,000. Virtu Financial LLC bought a new position in Semrush in the 3rd quarter worth approximately $158,000. Barclays PLC grew its stake in Semrush by 115.2% in the 3rd quarter. Barclays PLC now owns 102,407 shares of the company's stock valued at $1,609,000 after buying an additional 54,830 shares in the last quarter. Finally, Geode Capital Management LLC boosted its holdings in shares of Semrush by 4.8% in the third quarter. Geode Capital Management LLC now owns 788,290 shares of the company's stock worth $12,387,000 after acquiring an additional 36,173 shares during the period. 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.