Semrush (NASDAQ:SEMR) Now Covered by Analysts at Northland Securities

Stock analysts at Northland Securities initiated coverage on shares of Semrush (NASDAQ:SEMR) in a note issued to investors on Tuesday,Benzinga reports. The firm set an “outperform” rating and a $18.00 price target on the stock. Northland Securities’ target price would indicate a potential upside of 43.08% from the company’s previous close.

Other analysts also recently issued research reports about the stock. The Goldman Sachs Group increased their target price on shares of Semrush from $14.00 to $16.00 and gave the company a “neutral” rating in a report on Monday, October 7th. KeyCorp lifted their target price on shares of 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. upped their target price on Semrush from $16.00 to $17.00 and gave the company an “overweight” rating in a report on Wednesday, October 2nd. Needham & Company LLC reissued a “buy” rating and issued a $18.00 price objective on shares of Semrush in a research report on Monday, November 11th. Finally, Morgan Stanley raised Semrush from an “equal weight” rating to an “overweight” rating and raised their target price for the company from $17.00 to $20.00 in a research report on Monday. Two equities research analysts have rated the stock with a hold rating and six have assigned a buy rating to the stock. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $17.13.

Semrush Trading Up 9.4 %

NASDAQ SEMR opened at $12.58 on Tuesday. The business has a fifty day simple moving average of $13.13 and a 200 day simple moving average of $13.57. Semrush has a 12 month low of $9.64 and a 12 month high of $16.42. The firm has a market capitalization of $1.85 billion, a P/E ratio of 157.27 and a beta of 1.62.

Insider Transactions at Semrush

In other news, COO Vitalii Obishchenko sold 5,293 shares of Semrush stock in a transaction on Tuesday, January 7th. The stock was sold at an average price of $11.73, for a total value of $62,086.89. Following the completion of the transaction, the chief operating officer now directly owns 838,659 shares in the company, valued at approximately $9,837,470.07. The trade was a 0.63 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CFO Brian Mulroy sold 3,015 shares of the business’s stock in a transaction on Monday, January 13th. The shares were sold at an average price of $12.40, for a total value of $37,386.00. Following the sale, the chief financial officer now owns 430,196 shares in the company, valued at approximately $5,334,430.40. The trade was a 0.70 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders sold 263,711 shares of company stock worth $3,332,605. 57.83% of the stock is owned by company insiders.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Bank of New York Mellon Corp lifted its stake in Semrush by 28.6% during the second quarter. Bank of New York Mellon Corp now owns 104,761 shares of the company’s stock worth $1,403,000 after purchasing an additional 23,313 shares during the last quarter. Rhumbline Advisers lifted its position in Semrush by 29.7% in the 2nd quarter. Rhumbline Advisers now owns 48,912 shares of the company’s stock worth $655,000 after buying an additional 11,202 shares during the last quarter. Acadian Asset Management LLC grew its position in Semrush by 330.9% during the second quarter. Acadian Asset Management LLC now owns 37,461 shares of the company’s stock valued at $499,000 after acquiring an additional 28,768 shares during the last quarter. Federated Hermes Inc. raised its stake in shares of Semrush by 385.0% during the second quarter. Federated Hermes Inc. now owns 297,311 shares of the company’s stock worth $3,981,000 after acquiring an additional 236,010 shares in the last quarter. Finally, Dimensional Fund Advisors LP lifted its holdings in shares of Semrush by 69.5% in the 2nd quarter. Dimensional Fund Advisors LP now owns 532,702 shares of the company’s stock worth $7,132,000 after acquiring an additional 218,488 shares during the last quarter. 32.86% of the stock is currently owned by hedge funds and other institutional investors.

Semrush Company Profile

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.