Semrush (NASDAQ:SEMR) Given New $9.00 Price Target at The Goldman Sachs Group

Key Points

• The Goldman Sachs Group has cut its price target for Semrush from $12.00 to $9.00, now maintaining a "neutral" rating on the stock, which implies a potential upside of 20.58% from the current price.
• Other analysts, including Morgan Stanley and KeyCorp, also set price targets at $9.00 and $12.00 respectively, while Semrush has a consensus rating of "Moderate Buy" and an average price target of $14.00.
• Insider trading activity includes significant share sales by CTO Oleg Shchegolev and CFO Brian Mulroy, indicating possible shifts in management confidence, with the stocks sold valued at over $25 million combined.

Semrush (NASDAQ:SEMR - Get Free Report) had its price target lowered by stock analysts at The Goldman Sachs Group from $12.00 to $9.00 in a research report issued to clients and investors on Wednesday,Benzinga reports. The brokerage presently has a "neutral" rating on the stock. The Goldman Sachs Group's target price suggests a potential upside of 26.67% from the stock's current price.

SEMR has been the topic of a number of other research reports. Needham & Company LLC lowered their target price on Semrush from $18.00 to $12.00 and set a "buy" rating on the stock in a report on Tuesday, August 5th. KeyCorp set a $12.00 target price on Semrush and gave the company an "overweight" rating in a report on Tuesday, August 5th. Finally, Morgan Stanley set a $9.00 target price on Semrush and gave the company an "equal weight" rating in a report on Tuesday. Two 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 company's stock. According to MarketBeat, the stock has a consensus rating of "Moderate Buy" and a consensus price target of $14.00.

Semrush Trading Down 5.0%

SEMR traded down $0.38 during midday trading on Wednesday, reaching $7.11. The company's stock had a trading volume of 1,353,870 shares, compared to its average volume of 824,938. The stock has a market cap of $1.05 billion, a P/E ratio of 88.82 and a beta of 1.65. The company has a fifty day simple moving average of $9.13 and a 200 day simple moving average of $10.87. Semrush has a twelve month low of $7.08 and a twelve month high of $18.74.

Insider Buying and Selling

In other Semrush news, Director Anna Baird sold 20,000 shares of the firm's stock in a transaction that occurred on Tuesday, June 3rd. The stock was sold at an average price of $10.00, for a total value of $200,000.00. Following the completion of the sale, the director owned 26,556 shares in the company, valued at approximately $265,560. This trade represents a 42.96% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CTO Oleg Shchegolev sold 2,500,000 shares of the firm's stock in a transaction that occurred on Tuesday, May 20th. The stock was sold at an average price of $10.01, for a total value of $25,025,000.00. Following the transaction, the chief technology officer owned 26,739,320 shares of the company's stock, valued at $267,660,593.20. This trade represents a 8.55% decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders have sold 2,561,250 shares of company stock worth $25,650,643. 55.61% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Semrush

Several hedge funds and other institutional investors have recently modified their holdings of the stock. Signaturefd LLC bought a new position in Semrush in the 1st quarter valued at $42,000. Amundi grew its stake in shares of Semrush by 29.3% during the first quarter. Amundi now owns 4,890 shares of the company's stock worth $44,000 after purchasing an additional 1,108 shares during the period. Quarry LP grew its stake 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 purchasing an additional 3,589 shares during the period. KLP Kapitalforvaltning AS acquired a new position in Semrush in the fourth quarter valued at about $71,000. Finally, Comerica Bank grew its stake in Semrush by 14.6% in the fourth quarter. Comerica Bank now owns 6,304 shares of the company's stock valued at $75,000 after acquiring an additional 801 shares during the period. Institutional investors own 32.86% of the company's stock.

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.