Semrush (NASDAQ:SEMR) Given a $12.00 Price Target at KeyCorp

Key Points

• KeyCorp has revised its target price for Semrush's stock from $16.00 to $12.00, still maintaining an "overweight" rating, indicating a potential upside of 30.14% from its previous close.
• Morgan Stanley has also lowered its price target for Semrush from $19.00 to $13.00, with both it and KeyCorp rating the stock as "overweight."
• Insider trading activity has seen significant sales, including a 5,000 share sale by Director Mark Vranesh and a 2.5 million share sale by CTO Oleg Shchegolev in recent months.

Semrush (NASDAQ:SEMR - Get Free Report) has been given a $12.00 price objective by analysts at KeyCorp in a research note issued on Tuesday, Marketbeat Ratings reports. The brokerage presently has an "overweight" rating on the stock. KeyCorp's target price indicates a potential upside of 60.51% from the stock's previous close.

Separately, Morgan Stanley dropped their price objective on Semrush from $19.00 to $13.00 and set an "overweight" rating for the company in a research note on Wednesday, April 16th. Two analysts have rated the stock with a hold rating, five have given a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and an average target price of $14.00.

Semrush Price Performance

Shares of SEMR stock traded down $0.12 during midday trading on Tuesday, reaching $7.48. 1,618,252 shares of the company traded hands, compared to its average volume of 821,386. The firm's 50 day simple moving average is $9.18 and its two-hundred day simple moving average is $10.97. The firm has a market cap of $1.11 billion, a PE ratio of 93.46 and a beta of 1.65. Semrush has a 1-year low of $7.10 and a 1-year high of $18.74.

Insider Buying and Selling at Semrush

In related news, CMO Andrew Warden sold 7,344 shares of the company's stock in a transaction that occurred on Monday, May 12th. The stock was sold at an average price of $10.81, for a total value of $79,388.64. Following the sale, the chief marketing officer owned 393,655 shares of the company's stock, valued at approximately $4,255,410.55. This represents a 1.83% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CFO Brian Mulroy sold 20,000 shares of the firm's stock in a transaction on Friday, June 6th. The stock was sold at an average price of $10.43, for a total value of $208,600.00. Following the transaction, the chief financial officer directly owned 907,385 shares of the company's stock, valued at $9,464,025.55. The trade was a 2.16% decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 2,561,250 shares of company stock worth $25,650,643. 55.61% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

Institutional investors have recently added to or reduced their stakes in the company. Quarry LP grew its holdings in shares of Semrush by 504.8% during the fourth quarter. Quarry LP now owns 4,300 shares of the company's stock worth $51,000 after buying an additional 3,589 shares in the last quarter. Signaturefd LLC purchased a new stake in Semrush in the 1st quarter worth approximately $42,000. Amundi raised its holdings in Semrush by 29.3% in the 1st quarter. Amundi now owns 4,890 shares of the company's stock valued at $44,000 after acquiring an additional 1,108 shares during the last quarter. KLP Kapitalforvaltning AS acquired a new position in Semrush in the 4th quarter valued at $71,000. Finally, Comerica Bank lifted its stake in shares of Semrush by 14.6% during the 4th quarter. Comerica Bank now owns 6,304 shares of the company's stock worth $75,000 after purchasing an additional 801 shares during the period. Institutional investors and hedge funds 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.