Needham & Company LLC Has Lowered Expectations for Semrush (NASDAQ:SEMR) Stock Price

Key Points

• Needham & Company LLC has lowered the price target for Semrush (NASDAQ:SEMR) from $18.00 to $12.00 while maintaining a "buy" rating, indicating a potential upside of 63.49% from the company's previous close.
• Other analysts, including Morgan Stanley and KeyCorp, have also reduced their price targets to $13.00 and $12.00, respectively, reflecting a cautious outlook on the stock.
• Shares of Semrush saw a decline of $1.87 during trading, bringing the stock price down to $7.34, which is significantly lower than its 12-month high of $18.74.

Semrush (NASDAQ:SEMR - Get Free Report) had its price objective decreased by investment analysts at Needham & Company LLC from $18.00 to $12.00 in a research report issued to clients and investors on Tuesday,Benzinga reports. The firm currently has a "buy" rating on the stock. Needham & Company LLC's target price suggests a potential upside of 60.26% from the company's previous close.

SEMR has been the subject of a number of other reports. KeyCorp set a $12.00 price target on shares of Semrush and gave the company an "overweight" rating in a report on Tuesday. Morgan Stanley reduced their target price on Semrush from $19.00 to $13.00 and set an "overweight" rating for the company in a report on Wednesday, April 16th. Two equities research analysts have rated the stock with a hold rating, five have assigned a buy rating and one has given a strong buy rating to the company's stock. According to data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and an average target price of $14.00.

Semrush Price Performance

Shares of NASDAQ SEMR traded down $0.11 during mid-day trading on Tuesday, reaching $7.49. 857,113 shares of the company traded hands, compared to its average volume of 815,924. The firm has a market cap of $1.11 billion, a PE ratio of 93.32 and a beta of 1.65. Semrush has a fifty-two week low of $7.10 and a fifty-two week high of $18.74. The stock has a fifty day simple moving average of $9.23 and a 200-day simple moving average of $11.03.

Insider Transactions at Semrush

In other Semrush news, insider David W. Mason sold 7,500 shares of the business's stock in a transaction dated 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 sale, the insider owned 261,702 shares of the company's stock, valued at $2,624,871.06. The trade was a 2.79% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CFO Brian Mulroy sold 20,000 shares of the stock in a transaction dated Friday, June 6th. The shares were 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 in the company, valued at approximately $9,464,025.55. This represents a 2.16% decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders sold 2,561,250 shares of company stock valued at $25,650,643. Insiders own 55.61% of the company's stock.

Institutional Trading of Semrush

A number of institutional investors and hedge funds have recently modified their holdings of SEMR. Comerica Bank boosted its holdings in Semrush by 14.6% in the 4th quarter. Comerica Bank now owns 6,304 shares of the company's stock valued at $75,000 after purchasing an additional 801 shares during the period. D. E. Shaw & Co. Inc. lifted its stake in shares of Semrush by 3.4% in the fourth quarter. D. E. Shaw & Co. Inc. now owns 25,128 shares of the company's stock valued at $299,000 after buying an additional 830 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its position in Semrush by 4.6% during the fourth quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 20,772 shares of the company's stock worth $247,000 after buying an additional 912 shares in the last quarter. Amundi increased its stake in Semrush by 29.3% during the first 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 period. Finally, Martingale Asset Management L P raised its holdings in Semrush by 2.4% in the 1st quarter. Martingale Asset Management L P now owns 54,352 shares of the company's stock valued at $507,000 after acquiring an additional 1,268 shares in the last quarter. 32.86% of the stock is currently owned by institutional investors and hedge funds.

Semrush Company Profile

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.