Semrush (NASDAQ:SEMR) Shares Gap Down – Should You Sell?

Semrush Holdings, Inc. (NASDAQ:SEMR) shares gapped down before the market opened on Friday . The stock had previously closed at $14.28, but opened at $13.00. Semrush shares last traded at $12.17, with a volume of 83,059 shares.

Analysts Set New Price Targets

SEMR has been the subject of a number of research reports. The Goldman Sachs Group upped their target price on shares of Semrush from $14.00 to $16.00 and gave the stock a “neutral” rating in a report on Monday, October 7th. Needham & Company LLC reiterated a “buy” rating and issued a $18.00 price objective on shares of Semrush in a report on Tuesday, October 29th. KeyCorp boosted their target price on Semrush from $19.00 to $21.00 and gave the stock an “overweight” rating in a report on Wednesday, October 2nd. Finally, 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. Two research analysts have rated the stock with a hold rating and four have issued a buy rating to the company. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $16.50.

Semrush Stock Down 13.4 %

The firm has a 50-day moving average of $13.79 and a two-hundred day moving average of $13.96. The company has a market capitalization of $1.81 billion, a PE ratio of 120.80 and a beta of 1.62.

Semrush (NASDAQ:SEMR) last released its quarterly earnings results on Monday, August 5th. The company reported $0.01 earnings per share for the quarter, missing analysts’ consensus estimates of $0.03 by ($0.02). The business had revenue of $90.95 million for the quarter, compared to analysts’ expectations of $89.70 million. Semrush had a return on equity of 6.61% and a net margin of 4.39%. On average, equities research analysts expect that Semrush Holdings, Inc. will post 0.08 EPS for the current year.

Insiders Place Their Bets

In other news, CFO Brian Mulroy sold 4,207 shares of the company’s stock in a transaction that occurred on Friday, October 11th. The shares were sold at an average price of $13.12, for a total value of $55,195.84. Following the transaction, the chief financial officer now directly owns 433,211 shares in the company, valued at approximately $5,683,728.32. This represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. In other Semrush news, CFO Brian Mulroy sold 4,207 shares of Semrush stock in a transaction dated Friday, October 11th. The stock was sold at an average price of $13.12, for a total value of $55,195.84. Following the completion of the transaction, the chief financial officer now directly owns 433,211 shares of the company’s stock, valued at $5,683,728.32. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, CEO Oleg Shchegolev sold 8,964 shares of the business’s stock in a transaction dated Wednesday, October 2nd. The stock was sold at an average price of $14.14, for a total transaction of $126,750.96. Following the sale, the chief executive officer now owns 4,378,823 shares in the company, valued at $61,916,557.22. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 172,789 shares of company stock valued at $2,441,412 over the last 90 days. 57.83% of the stock is owned by company insiders.

Hedge Funds Weigh In On Semrush

Several hedge funds and other institutional investors have recently added to or reduced their stakes in SEMR. Point72 Asset Management L.P. purchased a new position in Semrush in the second quarter valued at $123,000. Summit Global Investments acquired a new stake in Semrush in the 2nd quarter valued at about $156,000. Olympiad Research LP purchased a new position in shares of Semrush in the 3rd quarter valued at about $159,000. Versor Investments LP acquired a new position in shares of Semrush during the second quarter worth about $174,000. Finally, The Manufacturers Life Insurance Company increased its stake in shares of Semrush by 28.4% during the second 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. 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.