Semrush (NASDAQ:SEMR) Earns “Buy” Rating from Needham & Company LLC

Needham & Company LLC restated their buy rating on shares of Semrush (NASDAQ:SEMRFree Report) in a research report report published on Tuesday morning, Benzinga reports. Needham & Company LLC currently has a $15.00 price objective on the stock.

A number of other research analysts have also weighed in on SEMR. Piper Sandler reissued a neutral rating and issued a $14.00 target price (up from $12.00) on shares of Semrush in a research note on Tuesday, January 9th. Jefferies Financial Group raised shares of Semrush from a hold rating to a buy rating and lifted their price target for the company from $9.00 to $15.00 in a research report on Wednesday, February 7th. Finally, The Goldman Sachs Group lifted their price target on shares of Semrush from $10.00 to $12.00 and gave the company a neutral rating in a research report on Tuesday, January 23rd. Three analysts have rated the stock with a hold rating and two have issued a buy rating to the company’s stock. According to MarketBeat, Semrush has a consensus rating of Hold and a consensus price target of $12.80.

Read Our Latest Stock Report on SEMR

Semrush Price Performance

SEMR opened at $11.32 on Tuesday. The company’s 50 day simple moving average is $12.18 and its two-hundred day simple moving average is $10.44. Semrush has a 1-year low of $7.21 and a 1-year high of $14.09. The firm has a market capitalization of $1.62 billion, a price-to-earnings ratio of 1,047.00 and a beta of 1.56.

Insider Activity

In other news, CEO Oleg Shchegolev sold 150,582 shares of Semrush stock in a transaction that occurred on Wednesday, December 13th. The shares were sold at an average price of $11.98, for a total transaction of $1,803,972.36. Following the sale, the chief executive officer now owns 3,226,054 shares of the company’s stock, valued at approximately $38,648,126.92. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. In related news, CEO Oleg Shchegolev sold 150,582 shares of Semrush stock in a transaction that occurred on Wednesday, December 13th. The shares were sold at an average price of $11.98, for a total value of $1,803,972.36. Following the completion of the sale, the chief executive officer now owns 3,226,054 shares in the company, valued at approximately $38,648,126.92. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Mark Vranesh sold 7,500 shares of Semrush stock in a transaction that occurred on Tuesday, January 2nd. The shares were sold at an average price of $13.19, for a total transaction of $98,925.00. Following the completion of the sale, the director now owns 124,207 shares of the company’s stock, valued at approximately $1,638,290.33. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 358,366 shares of company stock valued at $4,341,313. 60.76% of the stock is currently owned by company insiders.

Institutional Trading of Semrush

Several institutional investors have recently added to or reduced their stakes in the stock. Wellington Management Group LLP acquired a new stake in Semrush in the 4th quarter valued at approximately $1,094,000. Goldman Sachs Group Inc. grew its stake in shares of Semrush by 42.2% in the fourth quarter. Goldman Sachs Group Inc. now owns 108,895 shares of the company’s stock worth $1,488,000 after acquiring an additional 32,339 shares in the last quarter. Barclays PLC grew its stake in shares of Semrush by 123.5% in the fourth quarter. Barclays PLC now owns 124,589 shares of the company’s stock worth $1,702,000 after acquiring an additional 68,833 shares in the last quarter. Vanguard Group Inc. grew its stake in shares of Semrush by 2.4% in the fourth quarter. Vanguard Group Inc. now owns 4,118,351 shares of the company’s stock worth $56,257,000 after acquiring an additional 96,789 shares in the last quarter. Finally, Occudo Quantitative Strategies LP grew its stake in shares of Semrush by 81.8% in the fourth quarter. Occudo Quantitative Strategies LP now owns 59,126 shares of the company’s stock worth $808,000 after acquiring an additional 26,607 shares in the last quarter. Institutional investors and hedge funds own 32.86% of the company’s stock.

About Semrush

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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.

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Analyst Recommendations for Semrush (NASDAQ:SEMR)

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