Semrush (NASDAQ:SEMR) Price Target Cut to $9.00 by Analysts 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 cut by analysts at The Goldman Sachs Group from $12.00 to $9.00 in a report issued on Wednesday,Benzinga reports. The firm presently has a "neutral" rating on the stock. The Goldman Sachs Group's price objective would suggest a potential upside of 20.58% from the stock's current price.

Other research analysts also recently issued reports about the company. Morgan Stanley set a $9.00 price objective on Semrush and gave the stock an "equal weight" rating in a research note on Tuesday. KeyCorp set a $12.00 price objective on Semrush and gave the stock an "overweight" rating in a research report on Tuesday. Finally, Needham & Company LLC dropped their price target on Semrush from $18.00 to $12.00 and set a "buy" rating for the company in a report on Tuesday. Two 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 company's stock. According to data from MarketBeat.com, Semrush has a consensus rating of "Moderate Buy" and a consensus price target of $14.00.

Semrush Price Performance

NASDAQ:SEMR traded up $0.16 during mid-day trading on Wednesday, reaching $7.46. The company's stock had a trading volume of 597,787 shares, compared to its average volume of 803,626. The company's fifty day simple moving average is $9.28 and its two-hundred day simple moving average is $11.05. The stock has a market cap of $1.11 billion, a P/E ratio of 93.34 and a beta of 1.65. Semrush has a twelve month low of $7.10 and a twelve month high of $18.74.

Insider Buying and Selling at Semrush

In other Semrush news, CTO Oleg Shchegolev sold 2,500,000 shares of the stock in a transaction that occurred on Tuesday, May 20th. The shares were sold at an average price of $10.01, for a total transaction of $25,025,000.00. Following the completion of the sale, the chief technology officer owned 26,739,320 shares of the company's stock, valued at approximately $267,660,593.20. This represents a 8.55% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CFO Brian Mulroy sold 20,000 shares of the company's 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 sale, the chief financial officer owned 907,385 shares in the company, valued at approximately $9,464,025.55. This represents a 2.16% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 2,561,250 shares of company stock worth $25,650,643. 55.61% of the stock is owned by company insiders.

Institutional Trading of Semrush

Hedge funds and other institutional investors have recently bought and sold shares of the stock. Comerica Bank boosted 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 acquiring an additional 801 shares in the last quarter. D. E. Shaw & Co. Inc. raised 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 worth $299,000 after acquiring an additional 830 shares during the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its stake in Semrush by 4.6% in the fourth quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 20,772 shares of the company's stock valued at $247,000 after purchasing an additional 912 shares in the last quarter. Amundi lifted its stake in Semrush by 29.3% in 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 last quarter. Finally, Martingale Asset Management L P boosted its position in Semrush by 2.4% during the 1st quarter. Martingale Asset Management L P now owns 54,352 shares of the company's stock worth $507,000 after buying an additional 1,268 shares during the period. 32.86% of the stock is owned by institutional investors and hedge funds.

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.

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