Needham & Company LLC Boosts Semrush (NASDAQ:SEMR) Price Target to $18.00

Semrush (NASDAQ:SEMR - Free Report) had its target price increased by Needham & Company LLC from $15.00 to $18.00 in a report published on Wednesday morning, Benzinga reports. Needham & Company LLC currently has a buy rating on the stock.

Other equities research analysts also recently issued research reports about the company. Piper Sandler dropped their target price on Semrush from $14.00 to $12.00 and set a neutral rating for the company in a research report on Wednesday, March 6th. Jefferies Financial Group upgraded shares of Semrush from a hold rating to a buy rating and increased their price objective for the company from $9.00 to $15.00 in a report on Wednesday, February 7th. KeyCorp initiated coverage on shares of Semrush in a report on Thursday, March 21st. They set an overweight rating and a $17.00 target price for the company. Finally, The Goldman Sachs Group increased their price target on Semrush from $10.00 to $12.00 and gave the company a neutral rating in a research note on Tuesday, January 23rd. Three research analysts have rated the stock with a hold rating and three have issued a buy rating to the company. According to MarketBeat.com, the stock currently has an average rating of Moderate Buy and a consensus price target of $14.00.

Semrush Stock Up 5.0 %

NASDAQ:SEMR traded up $0.73 during trading hours on Wednesday, reaching $15.38. The company had a trading volume of 1,733,670 shares, compared to its average volume of 566,498. The stock has a 50-day moving average of $12.30 and a two-hundred day moving average of $11.62. Semrush has a one year low of $7.21 and a one year high of $15.48. The firm has a market capitalization of $2.22 billion, a PE ratio of 1,466.47 and a beta of 1.57.

Semrush (NASDAQ:SEMR - Get Free Report) last issued its quarterly earnings results on Monday, March 4th. The company reported $0.05 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.01 by $0.04. Semrush had a net margin of 0.31% and a return on equity of 0.46%. The business had revenue of $83.39 million for the quarter, compared to the consensus estimate of $83.19 million. As a group, sell-side analysts expect that Semrush will post 0.12 earnings per share for the current year.

Insider Buying and Selling at Semrush

In other Semrush news, CMO Andrew Warden sold 9,355 shares of the firm's stock in a transaction on Tuesday, April 2nd. The stock was sold at an average price of $13.15, for a total transaction of $123,018.25. Following the transaction, the chief marketing officer now owns 265,471 shares in the company, valued at approximately $3,490,943.65. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. In related news, CEO Oleg Shchegolev sold 19,225 shares of Semrush stock in a transaction that occurred on Tuesday, April 2nd. The shares were sold at an average price of $13.21, for a total transaction of $253,962.25. Following the sale, the chief executive officer now directly owns 4,397,238 shares of the company's stock, valued at approximately $58,087,513.98. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CMO Andrew Warden sold 9,355 shares of the company's stock in a transaction on Tuesday, April 2nd. The stock was sold at an average price of $13.15, for a total transaction of $123,018.25. Following the transaction, the chief marketing officer now owns 265,471 shares of the company's stock, valued at $3,490,943.65. The disclosure for this sale can be found here. Insiders sold a total of 148,697 shares of company stock worth $1,933,767 over the last quarter. 57.83% of the stock is currently owned by insiders.

Institutional Trading of Semrush

Institutional investors have recently modified their holdings of the business. Quadrature Capital Ltd acquired a new stake in Semrush during the fourth quarter worth approximately $289,000. G2 Investment Partners Management LLC acquired a new position in shares of Semrush during the 4th quarter valued at $10,597,000. Cat Rock Capital Management LP boosted its position in shares of Semrush by 4.4% during the 4th quarter. Cat Rock Capital Management LP now owns 8,596,358 shares of the company's stock worth $117,426,000 after purchasing an additional 358,386 shares in the last quarter. Trexquant Investment LP acquired a new stake in Semrush in the fourth quarter valued at approximately $351,000. Finally, Jump Financial LLC raised its stake in shares of Semrush by 161.3% in the fourth quarter. Jump Financial LLC now owns 74,230 shares of the company's stock worth $1,014,000 after purchasing an additional 45,820 shares during the last quarter. 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.