Semrush (NASDAQ:SEMR) Reaches New 12-Month High – Here’s Why

Semrush Holdings, Inc. (NASDAQ:SEMR) hit a new 52-week high during trading on Tuesday . The company traded as high as $17.40 and last traded at $17.36, with a volume of 135028 shares trading hands. The stock had previously closed at $16.37.

Wall Street Analyst Weigh In

Several brokerages have weighed in on SEMR. The Goldman Sachs Group upped their target price on Semrush from $14.00 to $16.00 and gave the stock a “neutral” rating in a research report on Monday, October 7th. JPMorgan Chase & Co. raised their price objective on Semrush from $16.00 to $17.00 and gave the company an “overweight” rating in a research note on Wednesday, October 2nd. KeyCorp raised their target price on shares of Semrush from $19.00 to $21.00 and gave the company an “overweight” rating in a research note on Wednesday, October 2nd. Needham & Company LLC reissued a “buy” rating and set a $18.00 price objective on shares of Semrush in a research report on Wednesday, January 15th. Finally, Northland Securities started coverage on shares of Semrush in a report on Tuesday, January 14th. They issued an “outperform” rating and a $18.00 price target for the company. Two research analysts have rated the stock with a hold rating, six have assigned a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $17.13.

Semrush Stock Down 0.9 %

The stock has a fifty day simple moving average of $13.64 and a 200-day simple moving average of $13.76. The company has a market capitalization of $2.55 billion, a P/E ratio of 216.91 and a beta of 1.62.

Semrush (NASDAQ:SEMR) last released its quarterly earnings results on Thursday, November 7th. The company reported $0.01 EPS for the quarter, missing analysts’ consensus estimates of $0.07 by ($0.06). Semrush had a return on equity of 4.93% and a net margin of 3.29%. The business had revenue of $97.41 million for the quarter, compared to the consensus estimate of $96.49 million. During the same quarter last year, the company earned $0.03 earnings per share. Analysts predict that Semrush Holdings, Inc. will post 0.08 earnings per share for the current fiscal year.

Insider Activity

In related news, COO Vitalii Obishchenko sold 5,293 shares of Semrush stock in a transaction dated 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 sale, the chief operating officer now directly owns 838,659 shares in the company, valued at $9,837,470.07. This trade represents 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, Director Dmitry Melnikov sold 42,226 shares of the business’s stock in a transaction dated Friday, December 13th. The stock was sold at an average price of $13.50, for a total value of $570,051.00. Following the sale, the director now directly owns 9,099,091 shares of the company’s stock, valued at $122,837,728.50. This represents a 0.46 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 335,711 shares of company stock valued at $4,466,605 over the last three months. 57.83% of the stock is owned by insiders.

Hedge Funds Weigh In On Semrush

A number of hedge funds and other institutional investors have recently bought and sold shares of the business. Dimensional Fund Advisors LP lifted its stake 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 valued at $7,132,000 after purchasing an additional 218,488 shares during the period. Sei Investments Co. bought a new stake in Semrush in the second quarter valued at about $730,000. Squarepoint Ops LLC lifted its stake in Semrush by 33.0% in the second quarter. Squarepoint Ops LLC now owns 247,488 shares of the company’s stock valued at $3,314,000 after buying an additional 61,456 shares during the period. Millennium Management LLC boosted its holdings in Semrush by 126.5% during the second quarter. Millennium Management LLC now owns 294,374 shares of the company’s stock worth $3,942,000 after buying an additional 164,395 shares during the last quarter. Finally, 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 buying an additional 3,706 shares during the period. 32.86% of the stock is owned by 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.