KeyCorp Reiterates $12.00 Price Target for Semrush (NASDAQ:SEMR)

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 target price by KeyCorp in a research note issued on Tuesday, Marketbeat Ratings reports. The firm currently has an "overweight" rating on the stock. KeyCorp's target price points to a potential upside of 68.66% from the stock's previous close.

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

Semrush Stock Down 0.1%

Shares of SEMR stock traded down $0.01 during trading hours on Tuesday, reaching $7.12. The company's stock had a trading volume of 1,847,595 shares, compared to its average volume of 831,718. The firm's 50 day simple moving average is $9.07 and its 200-day simple moving average is $10.77. The company has a market capitalization of $1.05 billion, a price-to-earnings ratio of 88.95 and a beta of 1.65. Semrush has a fifty-two week low of $7.01 and a fifty-two week high of $18.74.

Insider Buying and Selling at Semrush

In other news, CFO Brian Mulroy sold 20,000 shares of the business's stock in a transaction that occurred 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 owned 907,385 shares in the company, valued at $9,464,025.55. The trade was a 2.16% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider David W. Mason sold 7,500 shares of the business's stock in a transaction that occurred on Tuesday, June 3rd. The stock was sold at an average price of $10.03, for a total value of $75,225.00. Following the completion of the transaction, the insider owned 261,702 shares in the company, valued at $2,624,871.06. The trade was a 2.79% decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders have sold 2,553,906 shares of company stock worth $25,571,254. 55.61% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Semrush

A number of hedge funds and other institutional investors have recently modified their holdings of SEMR. Nuveen LLC purchased a new position in shares of Semrush in the 1st quarter worth approximately $10,762,000. Topline Capital Management LLC purchased a new position in shares of Semrush in the 4th quarter worth approximately $9,267,000. Millennium Management LLC boosted its stake in shares of Semrush by 153.8% in the 4th quarter. Millennium Management LLC now owns 1,246,109 shares of the company's stock worth $14,804,000 after buying an additional 755,220 shares during the last quarter. ANTIPODES PARTNERS Ltd boosted its stake in shares of Semrush by 898.5% in the 2nd quarter. ANTIPODES PARTNERS Ltd now owns 426,215 shares of the company's stock worth $3,858,000 after buying an additional 383,529 shares during the last quarter. Finally, Goldman Sachs Group Inc. boosted its stake in shares of Semrush by 129.2% in the 1st quarter. Goldman Sachs Group Inc. now owns 674,396 shares of the company's stock worth $6,292,000 after buying an additional 380,165 shares during the last quarter. 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.