Semrush’s (SEMR) Hold Rating Reiterated at Needham & Company LLC

Needham & Company LLC restated their hold rating on shares of Semrush (NASDAQ:SEMR) in a report issued on Wednesday,Benzinga reports.

Several other research analysts also recently weighed in on SEMR. KeyCorp restated a “sector weight” rating on shares of Semrush in a research report on Wednesday. The Goldman Sachs Group lowered their price target on Semrush from $12.00 to $9.00 and set a “neutral” rating on the stock in a research note on Wednesday, August 6th. Finally, Morgan Stanley set a $9.00 price objective on Semrush and gave the company an “equal weight” rating in a report on Tuesday, August 5th. One research analyst has rated the stock with a Strong Buy rating, one has assigned a Buy rating and five have assigned a Hold rating to the company’s stock. Based on data from MarketBeat.com, the stock has an average rating of “Hold” and a consensus price target of $12.00.

Semrush Price Performance

Shares of NASDAQ:SEMR opened at $11.79 on Wednesday. The business’s 50 day moving average price is $7.61 and its 200-day moving average price is $8.49. Semrush has a 1 year low of $6.56 and a 1 year high of $18.74. The firm has a market capitalization of $1.75 billion, a price-to-earnings ratio of 147.33 and a beta of 1.60.

Insider Buying and Selling at Semrush

In other news, CMO Andrew Warden sold 7,000 shares of the stock in a transaction on Wednesday, August 27th. The stock was sold at an average price of $7.77, for a total transaction of $54,390.00. Following the completion of the transaction, the chief marketing officer directly owned 366,917 shares in the company, valued at approximately $2,850,945.09. This represents a 1.87% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Insiders own 55.61% of the company’s stock.

Institutional Investors Weigh In On Semrush

A number of institutional investors have recently made changes to their positions in the stock. Nuveen LLC purchased a new position in shares of Semrush during the 1st quarter worth approximately $10,762,000. Bank of America Corp DE increased its holdings in shares of Semrush by 871.8% in the 2nd quarter. Bank of America Corp DE now owns 940,144 shares of the company’s stock valued at $8,508,000 after acquiring an additional 843,406 shares during the last quarter. Balyasny Asset Management L.P. acquired a new stake in shares of Semrush during the 2nd quarter worth about $6,926,000. Topline Capital Management LLC purchased a new stake in Semrush during the third quarter worth approximately $3,923,000. Finally, Millennium Management LLC boosted its holdings in Semrush by 81.6% in the third quarter. Millennium Management LLC now owns 1,023,761 shares of the company’s stock valued at $7,248,000 after purchasing an additional 459,973 shares in the last quarter. 32.86% of the stock is currently 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.