Semrush (NASDAQ:SEMR) Rating Increased to Strong-Buy at Northland Capmk

Northland Capmk upgraded shares of Semrush (NASDAQ:SEMR) to a strong-buy rating in a research note published on Tuesday,Zacks.com reports.

A number of other brokerages also recently weighed in on SEMR. Morgan Stanley upgraded shares of Semrush from an “equal weight” rating to an “overweight” rating and increased their price objective for the company from $17.00 to $20.00 in a research report on Monday. Northland Securities began coverage on Semrush in a report on Tuesday. They set an “outperform” rating and a $18.00 price target on the stock. The Goldman Sachs Group lifted their price objective on Semrush from $14.00 to $16.00 and gave the stock a “neutral” rating in a report on Monday, October 7th. JPMorgan Chase & Co. increased their target price on Semrush from $16.00 to $17.00 and gave the company an “overweight” rating in a report on Wednesday, October 2nd. Finally, KeyCorp upped their price target on shares of Semrush from $19.00 to $21.00 and gave the company an “overweight” rating in a research report on Wednesday, October 2nd. Two investment analysts have rated the stock with a hold rating, six have issued a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $17.13.

Semrush Stock Performance

SEMR opened at $13.32 on Tuesday. The company’s 50-day simple moving average is $13.13 and its two-hundred day simple moving average is $13.57. The stock has a market capitalization of $1.95 billion, a P/E ratio of 166.52 and a beta of 1.62. Semrush has a 52-week low of $9.64 and a 52-week high of $16.42.

Insider Buying and Selling at Semrush

In related news, Director Dmitry Melnikov sold 42,226 shares of the company’s stock in a transaction on Friday, December 13th. The shares were sold at an average price of $13.50, for a total value of $570,051.00. Following the completion of the transaction, the director now owns 9,099,091 shares of the company’s stock, valued at approximately $122,837,728.50. This represents a 0.46 % decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, COO Vitalii Obishchenko sold 5,293 shares of the stock in a transaction on Tuesday, January 7th. The stock was sold at an average price of $11.73, for a total value of $62,086.89. Following the completion of the sale, the chief operating officer now owns 838,659 shares of the company’s stock, valued at $9,837,470.07. The trade was a 0.63 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 263,711 shares of company stock valued at $3,332,605. Company insiders own 57.83% of the company’s stock.

Hedge Funds Weigh In On Semrush

Large investors have recently made changes to their positions in the business. Bank of New York Mellon Corp raised its stake in Semrush by 28.6% during the 2nd quarter. Bank of New York Mellon Corp now owns 104,761 shares of the company’s stock valued at $1,403,000 after purchasing an additional 23,313 shares during the period. Rhumbline Advisers grew its holdings in Semrush by 29.7% during the 2nd quarter. Rhumbline Advisers now owns 48,912 shares of the company’s stock valued at $655,000 after buying an additional 11,202 shares in the last quarter. Acadian Asset Management LLC raised its position in shares of Semrush by 330.9% during the second quarter. Acadian Asset Management LLC now owns 37,461 shares of the company’s stock valued at $499,000 after buying an additional 28,768 shares during the last quarter. Federated Hermes Inc. raised its position in shares of Semrush by 385.0% during the second quarter. Federated Hermes Inc. now owns 297,311 shares of the company’s stock valued at $3,981,000 after buying an additional 236,010 shares during the last quarter. Finally, Dimensional Fund Advisors LP lifted its holdings in shares of Semrush by 69.5% in the second quarter. Dimensional Fund Advisors LP now owns 532,702 shares of the company’s stock worth $7,132,000 after buying an additional 218,488 shares in the last quarter. 32.86% of the stock is currently owned by hedge funds and other institutional investors.

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.